Advanced Micro Devices’ (AMD) Underweight Rating Reiterated at Morgan Stanley

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Advanced Micro Devices (NASDAQ:AMD)‘s stock had its “underweight” rating reaffirmed by stock analysts at Morgan Stanley in a note issued to investors on Wednesday, September 19th, Marketbeat.com reports. They presently have a $28.00 price target on the semiconductor manufacturer’s stock, up from their previous price target of $11.00. Morgan Stanley’s price target suggests a potential upside of 6.30% from the company’s previous close.

Other analysts have also recently issued research reports about the company. Wells Fargo & Co raised their price objective on Advanced Micro Devices from $20.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday, September 10th. FBN Securities began coverage on Advanced Micro Devices in a research report on Thursday, September 13th. They issued an “outperform” rating for the company. BMO Capital Markets reissued a “hold” rating and issued a $14.00 price objective on shares of Advanced Micro Devices in a research report on Thursday, July 26th. JPMorgan Chase & Co. lifted their price objective on Advanced Micro Devices to $15.50 and gave the company a “neutral” rating in a research note on Thursday, July 26th. Finally, Bank of America lifted their price objective on Advanced Micro Devices to $25.00 and gave the company an “average” rating in a research note on Monday, August 6th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Advanced Micro Devices currently has a consensus rating of “Hold” and a consensus price target of $23.58.

NASDAQ:AMD traded up $1.04 during midday trading on Wednesday, hitting $26.34. The stock had a trading volume of 110,848,406 shares, compared to its average volume of 79,244,445. Advanced Micro Devices has a one year low of $9.04 and a one year high of $34.14. The stock has a market cap of $30.11 billion, a P/E ratio of 329.25, a price-to-earnings-growth ratio of 6.00 and a beta of 3.10. The company has a quick ratio of 1.26, a current ratio of 1.66 and a debt-to-equity ratio of 1.33.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Wednesday, July 25th. The semiconductor manufacturer reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.01. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Advanced Micro Devices had a return on equity of 52.84% and a net margin of 5.04%. The business’s revenue for the quarter was up 52.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.02 EPS. On average, sell-side analysts anticipate that Advanced Micro Devices will post 0.37 EPS for the current fiscal year.

In other news, insider Mark D. Papermaster sold 70,000 shares of Advanced Micro Devices stock in a transaction that occurred on Monday, July 16th. The shares were sold at an average price of $16.62, for a total transaction of $1,163,400.00. Following the sale, the insider now owns 1,127,949 shares of the company’s stock, valued at approximately $18,746,512.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Mark D. Papermaster sold 20,066 shares of Advanced Micro Devices stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $19.14, for a total transaction of $384,063.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,822,900 shares of company stock worth $486,042,396. Insiders own 1.80% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. OppenheimerFunds Inc. increased its position in shares of Advanced Micro Devices by 36.1% during the first quarter. OppenheimerFunds Inc. now owns 30,042,756 shares of the semiconductor manufacturer’s stock worth $301,930,000 after acquiring an additional 7,966,623 shares during the period. Northern Trust Corp increased its position in shares of Advanced Micro Devices by 0.3% during the second quarter. Northern Trust Corp now owns 9,048,989 shares of the semiconductor manufacturer’s stock worth $135,645,000 after acquiring an additional 27,328 shares during the period. CI Investments Inc. increased its position in shares of Advanced Micro Devices by 1.4% during the first quarter. CI Investments Inc. now owns 8,715,076 shares of the semiconductor manufacturer’s stock worth $87,587,000 after acquiring an additional 121,900 shares during the period. Renaissance Technologies LLC increased its position in shares of Advanced Micro Devices by 541.5% during the second quarter. Renaissance Technologies LLC now owns 7,427,326 shares of the semiconductor manufacturer’s stock worth $111,336,000 after acquiring an additional 6,269,500 shares during the period. Finally, Eagle Asset Management Inc. increased its position in shares of Advanced Micro Devices by 84.8% during the second quarter. Eagle Asset Management Inc. now owns 6,769,440 shares of the semiconductor manufacturer’s stock worth $101,473,000 after acquiring an additional 3,105,441 shares during the period. 65.96% of the stock is currently owned by institutional investors.

Advanced Micro Devices Company Profile

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.

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Analyst Recommendations for Advanced Micro Devices (NASDAQ:AMD)

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