Advanced Micro Devices’ (AMD) Buy Rating Reaffirmed at MKM Partners
MKM Partners reissued their buy rating on shares of Advanced Micro Devices Inc. (NASDAQ:AMD) in a research note published on Friday morning. They currently have a $8.00 price objective on the semiconductor manufacturer’s stock.
Several other equities analysts have also recently weighed in on the company. Sanford C. Bernstein cut Advanced Micro Devices from a market perform rating to an underperform rating and set a $3.00 price objective for the company. in a research report on Friday, July 8th. Canaccord Genuity reaffirmed a buy rating and issued a $8.50 price target on shares of Advanced Micro Devices in a report on Monday, September 12th. Vetr cut Advanced Micro Devices from a sell rating to a strong sell rating and set a $6.54 price target for the company. in a report on Monday, August 22nd. BMO Capital Markets reaffirmed a hold rating on shares of Advanced Micro Devices in a report on Sunday, July 10th. Finally, Mizuho reaffirmed a neutral rating and issued a $7.00 price target (up previously from $5.50) on shares of Advanced Micro Devices in a report on Thursday, September 1st. Six analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Hold and an average target price of $5.52.
Advanced Micro Devices (NASDAQ:AMD) opened at 6.29 on Friday. The firm’s market cap is $5.00 billion. Advanced Micro Devices has a 52-week low of $1.65 and a 52-week high of $8.00. The company’s 50-day moving average price is $6.78 and its 200-day moving average price is $4.74.
Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Thursday, July 21st. The semiconductor manufacturer reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.03. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $951.89 million. Analysts predict that Advanced Micro Devices will post ($0.20) EPS for the current year.
Large investors have recently added to or reduced their stakes in the stock. Emerald Acquisition Ltd. acquired a new stake in Advanced Micro Devices during the second quarter worth $14,815,000. Arizona State Retirement System increased its stake in Advanced Micro Devices by 4.1% in the first quarter. Arizona State Retirement System now owns 326,833 shares of the semiconductor manufacturer’s stock worth $931,000 after buying an additional 12,800 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Advanced Micro Devices during the first quarter worth $15,658,000. Societe Generale acquired a new stake in Advanced Micro Devices during the second quarter worth $937,000. Finally, BlackRock Group LTD increased its stake in Advanced Micro Devices by 24.2% in the first quarter. BlackRock Group LTD now owns 449,771 shares of the semiconductor manufacturer’s stock worth $1,282,000 after buying an additional 87,752 shares during the last quarter. Institutional investors own 41.45% 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 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.
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