Advanced Micro Devices, Inc. (AMD) Upgraded to “Outperform” by BNP Paribas

Advanced Micro Devices, Inc. (NASDAQ:AMD) was upgraded by investment analysts at BNP Paribas from a “neutral” rating to an “outperform” rating in a report issued on Thursday.

Several other research firms also recently weighed in on AMD. Pacific Crest reissued an “equal weight” rating on shares of Advanced Micro Devices in a research report on Tuesday, June 20th. Canaccord Genuity upped their price objective on Advanced Micro Devices from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, June 21st. Jefferies Group LLC reaffirmed a “buy” rating and issued a $12.50 price objective (down previously from $16.00) on shares of Advanced Micro Devices in a research report on Wednesday, June 21st. Wells Fargo & Company reiterated an “outperform” rating and issued a $15.00 target price on shares of Advanced Micro Devices in a report on Wednesday, June 21st. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $11.00 target price on shares of Advanced Micro Devices in a report on Wednesday, June 21st. Five equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $13.93.

Shares of Advanced Micro Devices (NASDAQ:AMD) traded up 2.31% during midday trading on Thursday, hitting $14.20. 69,389,844 shares of the stock were exchanged. Advanced Micro Devices has a 52-week low of $6.22 and a 52-week high of $15.65. The stock’s market cap is $13.44 billion. The firm’s 50 day moving average price is $12.86 and its 200-day moving average price is $12.73.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, July 25th. The semiconductor manufacturer reported $0.02 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.04. Advanced Micro Devices had a negative return on equity of 24.34% and a negative net margin of 11.82%. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the firm earned ($0.05) EPS. The firm’s revenue was up 19.0% compared to the same quarter last year. On average, equities research analysts expect that Advanced Micro Devices will post $0.10 earnings per share for the current fiscal year.

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In other news, Director Mubadala Investment Co Pjsc sold 40,000,000 shares of the stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $525,600,000.00, for a total value of $21,024,000,000,000,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Darla M. Smith sold 11,810 shares of the stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $12.17, for a total value of $143,727.70. Following the completion of the transaction, the chief accounting officer now directly owns 31,291 shares in the company, valued at $380,811.47. The disclosure for this sale can be found here. Insiders sold 42,157,502 shares of company stock worth $21,024,000,027,762,700 over the last three months. Corporate insiders own 1.60% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Coldstream Capital Management Inc. grew its holdings in Advanced Micro Devices by 0.3% during the second quarter. Coldstream Capital Management Inc. now owns 20,735 shares of the semiconductor manufacturer’s stock worth $259,000 after acquiring an additional 60 shares during the period. Wealthfront Inc. grew its holdings in Advanced Micro Devices by 0.5% during the second quarter. Wealthfront Inc. now owns 20,050 shares of the semiconductor manufacturer’s stock worth $250,000 after acquiring an additional 104 shares during the period. North Star Asset Management Inc. grew its holdings in Advanced Micro Devices by 1.5% during the first quarter. North Star Asset Management Inc. now owns 15,330 shares of the semiconductor manufacturer’s stock worth $223,000 after acquiring an additional 233 shares during the period. Neuberger Berman Group LLC grew its holdings in Advanced Micro Devices by 0.4% during the second quarter. Neuberger Berman Group LLC now owns 70,113 shares of the semiconductor manufacturer’s stock worth $875,000 after acquiring an additional 272 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Advanced Micro Devices by 0.6% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 57,571 shares of the semiconductor manufacturer’s stock worth $718,000 after acquiring an additional 348 shares during the period. 59.11% 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 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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