Advanced Micro Devices Inc. (NASDAQ:AMD) was upgraded by equities research analysts at Sanford C. Bernstein from an “underperform” rating to a “market perform” rating in a research note issued to investors on Tuesday. The firm currently has a $5.00 price objective on the semiconductor manufacturer’s stock, up from their previous price objective of $3.00. Sanford C. Bernstein’s price target suggests a potential downside of 20.51% from the company’s previous close.

A number of other analysts also recently issued reports on the stock. Canaccord Genuity restated a “buy” rating and set a $8.50 price target on shares of Advanced Micro Devices in a report on Monday, September 12th. Vetr downgraded shares of 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. MKM Partners raised their price target on shares of Advanced Micro Devices from $5.00 to $6.30 and gave the stock a “buy” rating in a report on Tuesday, July 19th. BMO Capital Markets restated a “hold” rating on shares of Advanced Micro Devices in a report on Sunday, July 10th. Finally, Mizuho restated a “neutral” rating and set 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 issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $5.52.

Advanced Micro Devices (NASDAQ:AMD) opened at 6.29 on Tuesday. The stock’s 50 day moving average price is $6.78 and its 200-day moving average price is $4.74. Advanced Micro Devices has a 12 month low of $1.65 and a 12 month high of $8.00. The firm’s market capitalization is $5.00 billion.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Thursday, July 21st. The semiconductor manufacturer reported ($0.05) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.03. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $951.89 million. Equities analysts forecast that Advanced Micro Devices will post ($0.20) earnings per share for the current year.

Hedge funds have recently modified their holdings of the stock. Mason Street Advisors LLC purchased a new stake in shares of Advanced Micro Devices during the second quarter valued at $1,507,000. Calvert Investment Management Inc. purchased a new stake in shares of Advanced Micro Devices during the second quarter valued at $173,000. Amalgamated Bank increased its stake in shares of Advanced Micro Devices by 13.3% in the second quarter. Amalgamated Bank now owns 80,094 shares of the semiconductor manufacturer’s stock valued at $527,000 after buying an additional 9,401 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Advanced Micro Devices by 14.3% in the second quarter. Legal & General Group Plc now owns 820,549 shares of the semiconductor manufacturer’s stock valued at $4,210,000 after buying an additional 102,881 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY increased its stake in shares of Advanced Micro Devices by 5.0% in the second quarter. Metropolitan Life Insurance Co. NY now owns 1,055,319 shares of the semiconductor manufacturer’s stock valued at $5,424,000 after buying an additional 50,344 shares during the last quarter. 41.45% of the stock is currently owned by institutional investors and hedge funds.

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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