Equities research analysts at Sanford C. Bernstein initiated coverage on shares of Advanced Micro Devices Inc. (NASDAQ:AMD) in a report released on Wednesday. The firm set an “underperform” rating and a $3.00 price target on the semiconductor manufacturer’s stock. Sanford C. Bernstein’s price objective points to a potential downside of 52.90% from the company’s previous close.

Several other equities research analysts have also recently weighed in on AMD. Susquehanna began coverage on shares of Advanced Micro Devices in a research report on Tuesday. They issued a “neutral” rating and a $6.50 price target for the company. Jefferies Group reaffirmed a “buy” rating and issued a $9.00 price target on shares of Advanced Micro Devices in a research report on Monday. Vetr raised shares of Advanced Micro Devices from a “buy” rating to a “strong-buy” rating and set a $7.76 price target for the company in a research report on Monday. MKM Partners reaffirmed a “buy” rating and issued a $8.00 price target on shares of Advanced Micro Devices in a research report on Friday, September 16th. Finally, Deutsche Bank AG upped their price target on shares of Advanced Micro Devices from $4.00 to $5.00 and gave the stock a “hold” rating in a research report on Wednesday, September 14th. Six research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Advanced Micro Devices has a consensus rating of “Hold” and a consensus price target of $5.52.

Analyst Recommendations for Advanced Micro Devices (NASDAQ:AMD)

Shares of Advanced Micro Devices (NASDAQ:AMD) opened at 6.37 on Wednesday. The stock’s market cap is $5.07 billion. The company has a 50-day moving average of $6.79 and a 200 day moving average of $4.75. Advanced Micro Devices has a one year low of $1.65 and a one year high of $8.00.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data on Thursday, July 21st. The semiconductor manufacturer reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.03. The company earned $1.03 billion during the quarter, compared to analysts’ expectations of $951.89 million. On average, analysts predict that Advanced Micro Devices will post ($0.20) earnings per share for the current year.

Several large investors have recently modified their holdings of the stock. Neuberger Berman Group LLC acquired a new stake in shares of Advanced Micro Devices during the second quarter worth approximately $116,000. Gilder Gagnon Howe & Co. LLC boosted its stake in shares of 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. Courier Capital Corp boosted its stake in shares of 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 during the period. Calvert Investment Management Inc. acquired a new stake in shares of Advanced Micro Devices during the second quarter worth approximately $173,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Advanced Micro Devices during the second quarter worth approximately $179,000. Institutional investors and hedge funds own 41.45% of the company’s stock.

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.

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