Zacks Investment Research downgraded shares of Advanced Micro Devices Inc. (NASDAQ:AMD) from a buy rating to a hold rating in a report published 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.”

A number of other research firms have also commented on AMD. Credit Suisse Group AG raised their price target on Advanced Micro Devices from $3.50 to $5.50 and gave the stock an underperform rating in a report on Friday, July 22nd. Mizuho raised their price target on 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 reaffirmed a buy rating and issued a $6.75 price target (up from $5.50) on shares of Advanced Micro Devices in a report on Friday, July 22nd. Vetr raised Advanced Micro Devices from a sell rating to a hold rating and set a $5.08 price target for the company in a report on Monday, July 25th. Finally, JPMorgan Chase & Co. reaffirmed a hold rating and issued a $6.00 price target on shares of Advanced Micro Devices in a report on Tuesday, July 26th. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and seven have given a buy rating to the company. Advanced Micro Devices presently has a consensus rating of Hold and an average target price of $6.12.

Analyst Recommendations for Advanced Micro Devices (NASDAQ:AMD)

Advanced Micro Devices (NASDAQ:AMD) traded up 3.67% during trading on Friday, hitting $9.03. The stock had a trading volume of 34,788,012 shares. The company has a 50-day moving average of $6.93 and a 200-day moving average of $5.90. Advanced Micro Devices has a 52 week low of $1.75 and a 52 week high of $9.22. The stock’s market capitalization is $8.37 billion.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Thursday, October 20th. The semiconductor manufacturer reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.02. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period last year, the company posted ($0.17) earnings per share. Advanced Micro Devices’s revenue for the quarter was up 23.2% on a year-over-year basis. On average, equities analysts expect that Advanced Micro Devices will post ($0.15) earnings per share for the current fiscal year.

In related news, SVP Mark D. Papermaster sold 271,454 shares of the stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $6.61, for a total value of $1,794,310.94. Following the completion of the transaction, the senior vice president now owns 1,032,492 shares of the company’s stock, valued at approximately $6,824,772.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Lisa T. Su sold 665,414 shares of the stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $6.61, for a total transaction of $4,398,386.54. Following the completion of the transaction, the chief executive officer now directly owns 2,687,640 shares of the company’s stock, valued at approximately $17,765,300.40. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Fund Advisors increased its position in shares of Advanced Micro Devices by 4.2% in the second quarter. BlackRock Fund Advisors now owns 34,592,453 shares of the semiconductor manufacturer’s stock worth $177,805,000 after buying an additional 1,401,568 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Advanced Micro Devices by 11.4% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 21,541,918 shares of the semiconductor manufacturer’s stock worth $148,855,000 after buying an additional 2,203,878 shares during the period. Teachers Advisors LLC raised its stake in Advanced Micro Devices by 29.4% in the third quarter. Teachers Advisors LLC now owns 10,781,898 shares of the semiconductor manufacturer’s stock worth $74,503,000 after buying an additional 2,448,930 shares during the period. FMR LLC raised its stake in Advanced Micro Devices by 524.7% in the second quarter. FMR LLC now owns 10,765,800 shares of the semiconductor manufacturer’s stock worth $55,336,000 after buying an additional 9,042,500 shares during the period. Finally, Northern Trust Corp raised its stake in Advanced Micro Devices by 5.9% in the third quarter. Northern Trust Corp now owns 9,916,093 shares of the semiconductor manufacturer’s stock worth $68,520,000 after buying an additional 552,084 shares during the period. 45.63% of the stock is owned by hedge funds and other institutional investors.

Advanced Micro Devices Company Profile

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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