Bank of America Cuts Advanced Micro Devices (AMD) Price Target to $15.00

Advanced Micro Devices (NASDAQ:AMD) had its target price decreased by Bank of America from $18.00 to $15.00 in a research report report published on Friday morning, Marketbeat.com reports. Bank of America currently has a buy rating on the semiconductor manufacturer’s stock.

A number of other equities research analysts have also recently commented on AMD. BidaskClub upgraded Advanced Micro Devices from a sell rating to a hold rating in a research report on Thursday, December 21st. Susquehanna Bancshares lowered their price objective on Advanced Micro Devices from $15.00 to $13.00 and set a neutral rating on the stock in a report on Thursday, January 18th. Vetr cut Advanced Micro Devices from a strong-buy rating to a buy rating and set a $13.85 price objective on the stock. in a report on Friday, January 19th. MKM Partners lifted their price objective on Advanced Micro Devices from $13.00 to $14.50 and gave the stock a buy rating in a report on Monday, January 29th. Finally, Zacks Investment Research upgraded Advanced Micro Devices from a hold rating to a buy rating and set a $15.00 price objective on the stock in a report on Wednesday, January 31st. Seven equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $14.58.

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NASDAQ:AMD opened at $10.04 on Friday. Advanced Micro Devices has a 52 week low of $9.04 and a 52 week high of $15.65. The company has a debt-to-equity ratio of 2.17, a quick ratio of 1.27 and a current ratio of 1.76. The stock has a market cap of $9,681.63, a PE ratio of 125.50, a price-to-earnings-growth ratio of 4.06 and a beta of 2.86.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $0.08 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.04. Advanced Micro Devices had a return on equity of 16.76% and a net margin of 0.81%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period last year, the firm earned ($0.01) EPS. The company’s quarterly revenue was up 33.8% on a year-over-year basis. analysts expect that Advanced Micro Devices will post 0.32 EPS for the current fiscal year.

In other news, SVP Forrest Eugene Norrod sold 62,500 shares of Advanced Micro Devices stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $11.58, for a total transaction of $723,750.00. Following the sale, the senior vice president now owns 718,772 shares of the company’s stock, valued at approximately $8,323,379.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Devinder Kumar sold 67,976 shares of Advanced Micro Devices stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $13.43, for a total transaction of $912,917.68. The disclosure for this sale can be found here. Insiders sold a total of 792,824 shares of company stock worth $9,514,713 over the last three months. Corporate insiders own 1.80% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. OppenheimerFunds Inc. raised its position in shares of Advanced Micro Devices by 10.1% during the 4th quarter. OppenheimerFunds Inc. now owns 22,076,133 shares of the semiconductor manufacturer’s stock valued at $226,943,000 after buying an additional 2,022,320 shares during the period. TIAA CREF Investment Management LLC raised its position in shares of Advanced Micro Devices by 23.1% during the 4th quarter. TIAA CREF Investment Management LLC now owns 12,246,187 shares of the semiconductor manufacturer’s stock valued at $125,891,000 after buying an additional 2,295,080 shares during the period. Geode Capital Management LLC raised its position in shares of Advanced Micro Devices by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 9,486,698 shares of the semiconductor manufacturer’s stock valued at $97,337,000 after buying an additional 386,063 shares during the period. Teachers Advisors LLC raised its position in shares of Advanced Micro Devices by 40.4% during the 4th quarter. Teachers Advisors LLC now owns 9,142,340 shares of the semiconductor manufacturer’s stock valued at $93,983,000 after buying an additional 2,629,584 shares during the period. Finally, CI Investments Inc. raised its position in shares of Advanced Micro Devices by 17.3% during the 4th quarter. CI Investments Inc. now owns 8,593,176 shares of the semiconductor manufacturer’s stock valued at $88,338,000 after buying an additional 1,270,283 shares during the period. 62.44% of the stock is currently owned by hedge funds and other institutional investors.

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Advanced Micro Devices Company Profile

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.

Analyst Recommendations for Advanced Micro Devices (NASDAQ:AMD)

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