Benchmark Initiates Coverage on Advanced Micro Devices (AMD)

Benchmark assumed coverage on shares of Advanced Micro Devices (NASDAQ:AMD) in a report issued on Tuesday, Marketbeat Ratings reports. The brokerage issued a hold rating on the semiconductor manufacturer’s stock. The analysts noted that the move was a valuation call.

A number of other research analysts have also recently issued reports on AMD. Bank of America lifted their price target on Advanced Micro Devices from $17.00 to $20.00 and gave the company a buy rating in a report on Monday. BidaskClub cut Advanced Micro Devices from a strong-buy rating to a buy rating in a report on Tuesday, June 19th. Susquehanna Bancshares raised Advanced Micro Devices from a negative rating to a neutral rating and set a $13.87 price target for the company in a report on Wednesday, May 16th. Stifel Nicolaus lifted their price target on Advanced Micro Devices from $14.00 to $17.00 and gave the company a buy rating in a report on Friday, June 1st. Finally, UBS Group began coverage on Advanced Micro Devices in a report on Wednesday, April 4th. They issued a neutral rating and a $11.00 price target for the company. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and sixteen have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $15.32.

Advanced Micro Devices stock opened at $15.31 on Tuesday. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.62 and a quick ratio of 1.20. Advanced Micro Devices has a 12-month low of $9.04 and a 12-month high of $17.34. The stock has a market capitalization of $14.51 billion, a P/E ratio of 191.38, a price-to-earnings-growth ratio of 5.32 and a beta of 2.80.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Wednesday, April 25th. The semiconductor manufacturer reported $0.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.02. Advanced Micro Devices had a return on equity of 41.01% and a net margin of 3.29%. The business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.55 billion. sell-side analysts predict that Advanced Micro Devices will post 0.36 EPS for the current fiscal year.

In other news, CAO Darla M. Smith sold 13,243 shares of the company’s stock in a transaction dated Wednesday, May 30th. The stock was sold at an average price of $13.77, for a total value of $182,356.11. Following the completion of the sale, the chief accounting officer now directly owns 19,389 shares of the company’s stock, valued at approximately $266,986.53. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Lisa T. Su sold 300,000 shares of the company’s stock in a transaction dated Thursday, June 7th. The shares were sold at an average price of $15.38, for a total value of $4,614,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,041,341 shares of company stock valued at $15,570,139 over the last three months. Company insiders own 1.80% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Suntrust Banks Inc. grew its position in shares of Advanced Micro Devices by 479.7% in the 1st quarter. Suntrust Banks Inc. now owns 89,356 shares of the semiconductor manufacturer’s stock valued at $897,000 after purchasing an additional 73,941 shares during the period. Amalgamated Bank grew its position in shares of Advanced Micro Devices by 6.4% in the 1st quarter. Amalgamated Bank now owns 192,859 shares of the semiconductor manufacturer’s stock valued at $1,938,000 after purchasing an additional 11,519 shares during the period. WINTON GROUP Ltd grew its position in shares of Advanced Micro Devices by 13.5% in the 1st quarter. WINTON GROUP Ltd now owns 50,433 shares of the semiconductor manufacturer’s stock valued at $507,000 after purchasing an additional 5,995 shares during the period. CIBC World Markets Inc. grew its position in shares of Advanced Micro Devices by 45.2% in the 1st quarter. CIBC World Markets Inc. now owns 232,058 shares of the semiconductor manufacturer’s stock valued at $2,332,000 after purchasing an additional 72,208 shares during the period. Finally, Moors & Cabot Inc. grew its position in shares of Advanced Micro Devices by 42.9% in the 1st quarter. Moors & Cabot Inc. now owns 27,500 shares of the semiconductor manufacturer’s stock valued at $276,000 after purchasing an additional 8,250 shares during the period. 63.54% of the stock is owned by institutional investors.

About Advanced Micro Devices

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. The company's products include x86 microprocessors as an accelerated processing unit (APU), chipsets, discrete and integrated graphics processing units (GPUs), and professional GPUs; 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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