Advanced Micro Devices Inc. (NASDAQ:AMD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

According to Zacks, “Advanced Micro is the second-largest producer of microprocessors, GPUs and chipsets in the world. The company reported break-even in the third quarter as compared with loss reported in the year-ago quarter. Revenue growth was also impressive. However, management's weak fourth quarter guidance was disappointing. Nevertheless, the result reflected Advance Micro's improving position in key markets driven by the introduction of several APUs and GPUs. Additionally, upcoming new products like Zen will drive top-line growth in the long run. Moreover, partnerships with the likes of Alibaba  for the supply of Radeon Pro GPUs for its cloud services will boost its competitive prowess. Notably the company trails NVIDIA as the second-largest manufacturer of graphics chips for high-end computing market.”

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. reissued a “hold” rating and set a $6.00 price objective on shares of Advanced Micro Devices in a report on Tuesday, July 26th. Vetr raised shares of Advanced Micro Devices from a “strong sell” rating to a “hold” rating and set a $5.74 price objective on the stock in a report on Monday, September 12th. Mizuho increased their price objective on shares of Advanced Micro Devices from $4.50 to $5.50 and gave the stock a “neutral” rating in a report on Friday, July 22nd. Jefferies Group reissued a “buy” rating and set a $9.00 price objective on shares of Advanced Micro Devices in a report on Monday, September 19th. Finally, Barclays PLC raised shares of Advanced Micro Devices from an “underweight” rating to an “equal weight” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $6.09.

Analyst Recommendations for Advanced Micro Devices (NASDAQ:AMD)

Advanced Micro Devices (NASDAQ:AMD) opened at 6.79 on Friday. The stock’s market capitalization is $6.29 billion. The stock has a 50 day moving average of $6.82 and a 200 day moving average of $5.83. Advanced Micro Devices has a 52-week low of $1.75 and a 52-week high of $8.00.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Thursday, October 20th. The semiconductor manufacturer reported $0.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.02. The firm earned $1.31 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the company posted ($0.17) EPS. The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. On average, equities research analysts forecast that Advanced Micro Devices will post ($0.15) EPS for the current year.

In other news, CFO Devinder Kumar sold 312,469 shares of Advanced Micro Devices stock in a transaction on Friday, November 4th. The stock was sold at an average price of $6.62, for a total transaction of $2,068,544.78. Following the completion of the sale, the chief financial officer now owns 478,890 shares of the company’s stock, valued at $3,170,251.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Mark D. Papermaster sold 271,454 shares of Advanced Micro Devices stock in a transaction on Friday, November 4th. The stock was sold at an average price of $6.61, for a total value of $1,794,310.94. Following the sale, the senior vice president now directly owns 1,032,492 shares of the company’s stock, valued at approximately $6,824,772.12. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Courier Capital Corp increased its stake in Advanced Micro Devices by 0.8% in the second quarter. Courier Capital Corp now owns 25,200 shares of the semiconductor manufacturer’s stock worth $130,000 after buying an additional 200 shares in the last quarter. Neuberger Berman Group LLC increased its stake in Advanced Micro Devices by 3.6% in the third quarter. Neuberger Berman Group LLC now owns 23,391 shares of the semiconductor manufacturer’s stock worth $162,000 after buying an additional 804 shares in the last quarter. State Treasurer State of Michigan increased its position in Advanced Micro Devices by 0.6% in the second quarter. State Treasurer State of Michigan now owns 257,900 shares of the semiconductor manufacturer’s stock worth $1,326,000 after buying an additional 1,500 shares during the period. Gilder Gagnon Howe & Co. LLC increased its position in Advanced Micro Devices by 7.7% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 25,072 shares of the semiconductor manufacturer’s stock worth $129,000 after buying an additional 1,800 shares during the period. Finally, ProShare Advisors LLC increased its position in Advanced Micro Devices by 1.3% in the second quarter. ProShare Advisors LLC now owns 179,034 shares of the semiconductor manufacturer’s stock worth $920,000 after buying an additional 2,331 shares during the period. 44.28% of the stock is owned by institutional investors.

About Advanced Micro Devices

Advanced Micro Devices, Inc is a global semiconductor company. The Company is engaged in offering x86 microprocessors, as a standalone central processing unit (CPU) or as incorporated into an accelerated processing unit (APU), chipsets, and discrete graphics processing units (GPUs) for the consumer, commercial and professional graphics markets, and server and embedded CPUs, GPUs and APUs, and semi-custom System-on-Chip (SoC) products and technology for game consoles.

5 Day Chart for NASDAQ:AMD

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