Advanced Micro Devices (NASDAQ:AMD) Receives New Coverage from Analysts at Loop Capital

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Loop Capital began coverage on shares of Advanced Micro Devices (NASDAQ:AMD) in a research note issued to investors on Monday, BenzingaRatingsTable reports. The firm issued a hold rating and a $32.00 price objective on the semiconductor manufacturer’s stock.

Several other brokerages have also issued reports on AMD. JPMorgan Chase & Co. boosted their price target on Advanced Micro Devices from $25.00 to $33.00 and gave the company a neutral rating in a research note on Wednesday, July 31st. MKM Partners boosted their price target on Advanced Micro Devices to $28.00 and gave the company a neutral rating in a research note on Wednesday, May 1st. Benchmark initiated coverage on Advanced Micro Devices in a research note on Thursday, August 1st. They issued a hold rating on the stock. Royal Bank of Canada reissued a buy rating and issued a $44.00 price target (up from $43.00) on shares of Advanced Micro Devices in a research note on Sunday, August 11th. Finally, Wells Fargo & Co reissued a buy rating on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $31.54.

Shares of AMD stock opened at $29.67 on Monday. The business’s 50 day simple moving average is $32.11 and its 200 day simple moving average is $28.02. Advanced Micro Devices has a one year low of $16.03 and a one year high of $35.55. The stock has a market capitalization of $34.86 billion, a PE ratio of 145.96, a PEG ratio of 2.73 and a beta of 3.06. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.08 and a quick ratio of 1.52.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.08 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.08. Advanced Micro Devices had a return on equity of 16.04% and a net margin of 3.25%. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the prior year, the business posted $0.14 earnings per share. The firm’s revenue was down 12.8% on a year-over-year basis. As a group, research analysts expect that Advanced Micro Devices will post 0.5 earnings per share for the current year.

In related news, CEO Lisa T. Su sold 429,497 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $33.53, for a total value of $14,401,034.41. Following the completion of the sale, the chief executive officer now directly owns 3,231,764 shares of the company’s stock, valued at approximately $108,361,046.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Devinder Kumar sold 127,735 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $28.30, for a total value of $3,614,900.50. Following the completion of the sale, the chief financial officer now directly owns 709,990 shares of the company’s stock, valued at $20,092,717. The disclosure for this sale can be found here. Insiders have sold 1,878,524 shares of company stock worth $60,911,813 over the last ninety days. 1.50% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Advanced Micro Devices by 4.1% in the 2nd quarter. Vanguard Group Inc. now owns 107,711,218 shares of the semiconductor manufacturer’s stock valued at $3,271,190,000 after buying an additional 4,205,071 shares during the last quarter. OppenheimerFunds Inc. raised its position in Advanced Micro Devices by 1.0% in the 1st quarter. OppenheimerFunds Inc. now owns 24,489,979 shares of the semiconductor manufacturer’s stock valued at $624,984,000 after buying an additional 254,425 shares during the last quarter. Artisan Partners Limited Partnership raised its position in Advanced Micro Devices by 66.9% in the 1st quarter. Artisan Partners Limited Partnership now owns 14,941,422 shares of the semiconductor manufacturer’s stock valued at $381,305,000 after buying an additional 5,991,132 shares during the last quarter. Geode Capital Management LLC raised its position in Advanced Micro Devices by 14.5% in the 4th quarter. Geode Capital Management LLC now owns 13,069,235 shares of the semiconductor manufacturer’s stock valued at $240,885,000 after buying an additional 1,651,507 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its position in Advanced Micro Devices by 5,801.3% in the 2nd quarter. Nuveen Asset Management LLC now owns 13,053,535 shares of the semiconductor manufacturer’s stock valued at $396,435,000 after buying an additional 12,832,339 shares during the last quarter. 60.38% of the stock is owned by institutional investors and hedge funds.

Advanced Micro Devices Company Profile

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. The company operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. Its 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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