Advanced Micro Devices, Inc. (AMD) Receives Outperform Rating from Wells Fargo & Company
Advanced Micro Devices, Inc. (NASDAQ:AMD)‘s stock had its “outperform” rating reissued by stock analysts at Wells Fargo & Company in a research report issued to clients and investors on Thursday.
Several other equities research analysts also recently weighed in on the stock. Morgan Stanley reissued an “equal weight” rating on shares of Advanced Micro Devices in a research note on Monday, May 15th. Goldman Sachs Group, Inc. (The) reissued a “sell” rating and issued a $10.60 target price on shares of Advanced Micro Devices in a research note on Monday, June 12th. Sanford C. Bernstein reissued a “sell” rating on shares of Advanced Micro Devices in a research note on Tuesday, April 25th. BMO Capital Markets reissued an “outperform” rating and issued a $15.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, May 17th. Finally, Mizuho reissued a “buy” rating and issued a $14.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, May 17th. Five analysts have rated the stock with a sell rating, sixteen have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $14.18.
Advanced Micro Devices (NASDAQ:AMD) opened at 12.83 on Thursday. The stock’s 50 day moving average is $13.59 and its 200 day moving average is $12.84. The firm’s market cap is $12.12 billion. Advanced Micro Devices has a one year low of $5.66 and a one year high of $15.65.
Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, July 25th. The semiconductor manufacturer reported $0.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.04. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.16 billion. Advanced Micro Devices had a negative net margin of 11.82% and a negative return on equity of 24.34%. Advanced Micro Devices’s revenue was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.05) earnings per share. On average, analysts predict that Advanced Micro Devices will post $0.10 earnings per share for the current fiscal year.
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In other news, CFO Devinder Kumar sold 100,634 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $10.85, for a total value of $1,091,878.90. Following the sale, the chief financial officer now directly owns 704,311 shares in the company, valued at approximately $7,641,774.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP James Robert Anderson sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $10.86, for a total transaction of $217,200.00. Following the completion of the sale, the senior vice president now owns 300,334 shares in the company, valued at $3,261,627.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,390,216 shares of company stock worth $21,024,000,018,073,800. 1.60% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Chevy Chase Trust Holdings Inc. purchased a new stake in Advanced Micro Devices during the first quarter worth $9,676,000. Charter Trust Co. purchased a new stake in Advanced Micro Devices during the first quarter worth $153,000. Exxonmobil Investment Management Inc. TX purchased a new stake in Advanced Micro Devices during the first quarter worth $2,493,000. Gulf International Bank UK Ltd purchased a new stake in Advanced Micro Devices during the first quarter worth $3,633,000. Finally, Koshinski Asset Management Inc. purchased a new stake in Advanced Micro Devices during the first quarter worth $206,000. Institutional investors and hedge funds own 57.34% of the company’s stock.
About Advanced Micro Devices
Advanced Micro Devices, Inc is a global semiconductor company. The Company is engaged in offering x86 microprocessors, as standalone devices or as incorporated into an accelerated processing unit (APU), chipsets, discrete graphics processing units (GPUs) and professional graphics, and server and embedded processors and semi-custom System-on-Chip (SoC) products and technology for game consoles.
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