Advanced Micro Devices Inc. (AMD) Cut to Buy at Vetr Inc.
Advanced Micro Devices Inc. (NASDAQ:AMD) was downgraded by research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a note issued to investors on Monday. They presently have a $7.51 price objective on the semiconductor manufacturer’s stock. Vetr‘s target price would indicate a potential upside of 8.68% from the stock’s previous close.
A number of other brokerages have also recently issued reports on AMD. Canaccord Genuity reissued a “buy” rating on shares of Advanced Micro Devices in a report on Tuesday, August 23rd. Zacks Investment Research raised Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $8.50 price target on the stock in a report on Monday, September 5th. 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. Wells Fargo & Co. reaffirmed an “outperform” rating on shares of Advanced Micro Devices in a report on Wednesday, September 7th. 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. Six equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $5.51.
Advanced Micro Devices (NASDAQ:AMD) opened at 6.91 on Monday. Advanced Micro Devices has a 1-year low of $1.75 and a 1-year high of $8.00. The firm’s market capitalization is $5.50 billion. The company has a 50 day moving average price of $6.79 and a 200-day moving average price of $4.93.
Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data on Thursday, July 21st. The semiconductor manufacturer reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $951.89 million. On average, analysts forecast that Advanced Micro Devices will post ($0.20) EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in AMD. FMR LLC boosted its position in shares of 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 last quarter. Teachers Advisors Inc. raised its stake in Advanced Micro Devices by 752.7% in the second quarter. Teachers Advisors Inc. now owns 8,332,968 shares of the semiconductor manufacturer’s stock worth $42,831,000 after buying an additional 7,355,716 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Advanced Micro Devices during the first quarter worth approximately $15,658,000. TIAA CREF Investment Management LLC raised its stake in Advanced Micro Devices by 183.6% in the second quarter. TIAA CREF Investment Management LLC now owns 5,693,260 shares of the semiconductor manufacturer’s stock worth $29,263,000 after buying an additional 3,686,043 shares during the last quarter. Finally, Myriad Asset Management Ltd. acquired a new stake in Advanced Micro Devices during the second quarter worth approximately $15,093,000. 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.
To view Vetr’s full report, visit Vetr’s official website.
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