Morgan Stanley Reiterates “Equal Weight” Rating for Advanced Micro Devices, Inc. (AMD)

Morgan Stanley restated their equal weight rating on shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) in a research note published on Monday, May 15th.

AMD has been the topic of several other reports. Canaccord Genuity increased their target price on shares of Advanced Micro Devices to $17.00 and gave the stock a buy rating in a report on Thursday, March 9th. Zacks Investment Research upgraded shares of Advanced Micro Devices from a hold rating to a buy rating and set a $15.00 price target on the stock in a report on Monday, May 1st. Credit Suisse Group restated a neutral rating and issued a $10.50 price target (up from $7.00) on shares of Advanced Micro Devices in a report on Thursday, February 2nd. Bank of America Corporation restated a buy rating and issued a $16.50 price target on shares of Advanced Micro Devices in a report on Friday, March 3rd. Finally, Jefferies Group LLC raised their price target on shares of Advanced Micro Devices to $16.00 and gave the company a buy rating in a report on Monday, March 20th. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Advanced Micro Devices has a consensus rating of Hold and an average target price of $12.53.

Advanced Micro Devices (AMD) traded down 0.52% during midday trading on Monday, reaching $11.44. 59,779,528 shares of the company traded hands. The stock’s market capitalization is $10.81 billion. Advanced Micro Devices has a one year low of $4.65 and a one year high of $15.55. The company has a 50 day moving average price of $11.37 and a 200-day moving average price of $12.06.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Monday, May 1st. The semiconductor manufacturer reported ($0.04) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.04). Advanced Micro Devices had a negative net margin of 10.42% and a negative return on equity of 76.29%. The company had revenue of $984 million for the quarter, compared to analysts’ expectations of $984.40 million. During the same period in the prior year, the business earned ($0.12) EPS. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. Analysts forecast that Advanced Micro Devices will post $0.07 EPS for the current fiscal year.

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In other news, SVP James Robert Anderson sold 20,000 shares of the business’s stock in a transaction dated Friday, March 24th. The shares were sold at an average price of $14.05, for a total transaction of $281,000.00. Following the transaction, the senior vice president now owns 340,334 shares of the company’s stock, valued at approximately $4,781,692.70. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Darla M. Smith sold 9,620 shares of the business’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $10.98, for a total transaction of $105,627.60. Following the transaction, the insider now directly owns 19,808 shares in the company, valued at approximately $217,491.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 478,356 shares of company stock worth $5,416,955. Corporate insiders own 1.60% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in AMD. Vanguard Group Inc. raised its stake in shares of Advanced Micro Devices by 21.9% in the first quarter. Vanguard Group Inc. now owns 87,294,800 shares of the semiconductor manufacturer’s stock valued at $1,270,140,000 after buying an additional 15,661,774 shares during the period. Wellington Management Group LLP raised its stake in shares of Advanced Micro Devices by 5,764.6% in the first quarter. Wellington Management Group LLP now owns 14,181,305 shares of the semiconductor manufacturer’s stock valued at $206,339,000 after buying an additional 13,939,494 shares during the period. Teachers Advisors LLC raised its stake in shares of Advanced Micro Devices by 14.2% in the fourth quarter. Teachers Advisors LLC now owns 12,308,204 shares of the semiconductor manufacturer’s stock valued at $139,575,000 after buying an additional 1,526,306 shares during the period. Renaissance Technologies LLC raised its stake in shares of Advanced Micro Devices by 253.2% in the fourth quarter. Renaissance Technologies LLC now owns 11,530,326 shares of the semiconductor manufacturer’s stock valued at $130,754,000 after buying an additional 8,265,725 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Advanced Micro Devices by 5.9% in the third quarter. Northern Trust Corp now owns 9,916,093 shares of the semiconductor manufacturer’s stock valued at $68,520,000 after buying an additional 552,084 shares during the period. 57.42% of the stock is currently owned by hedge funds and other institutional investors.

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.

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