Advanced Micro Devices, Inc. (AMD) Upgraded at Zacks Investment Research

Advanced Micro Devices, Inc. (NASDAQ:AMD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday, July 4th. The firm presently has a $14.00 price target on the semiconductor manufacturer’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 0.36% from the company’s current price.

According to Zacks, “AMD is benefiting from strong graphics processor unit (GPU) sales. The company's improving position in key markets driven by the introduction of several APUs and GPUs is positive for the stock. We believe that increasing adoption of the company's products like Radeon and FirePro server GPUs will drive the top-line growth going forward. Moreover, the recently released Ryzen is expected to drive market share going ahead. Estimates have been stable lately ahead of the company's Q2 earnings release. The company has a mixed records of earnings surprises in the recent quarters. However, increased costs related to product introductions are likely to impact the company’s near-term profitability. We note that loss widened on a sequential basis in the quarter. Additionally, increasing competition from the likes of NVDIA remains a concern. We note that AMD has underperformed the broader market on a year-to-date basis.”

AMD has been the topic of a number of other research reports. Canaccord Genuity reaffirmed a “buy” rating and set a $17.00 price target on shares of Advanced Micro Devices in a report on Friday, May 19th. 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. Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of Advanced Micro Devices in a report on Friday, May 19th. BMO Capital Markets reaffirmed an “outperform” rating and set a $15.00 price target on shares of Advanced Micro Devices in a report on Wednesday, May 17th. Finally, Mizuho raised their price target on shares of Advanced Micro Devices from $13.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday, May 2nd. Five investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $14.10.

Advanced Micro Devices (NASDAQ:AMD) traded down 1.20% on Tuesday, reaching $13.95. 66,763,754 shares of the company’s stock traded hands. Advanced Micro Devices has a 52-week low of $5.66 and a 52-week high of $15.65. The company’s 50 day moving average is $13.28 and its 200-day moving average is $12.67. The stock’s market cap is $13.18 billion. Advanced Micro Devices also was the recipient of some unusual options trading activity on Wednesday. Investors purchased 260,472 call options on the company. This is an increase of approximately 204% compared to the average volume of 85,736 call options.

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

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In other Advanced Micro Devices news, SVP James Robert Anderson sold 160,122 shares of Advanced Micro Devices stock in a transaction on Monday, June 19th. The shares were sold at an average price of $12.48, for a total transaction of $1,998,322.56. Following the completion of the transaction, the senior vice president now directly owns 622,485 shares of the company’s stock, valued at $7,768,612.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Forrest Eugene Norrod sold 62,500 shares of Advanced Micro Devices stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $15.42, for a total transaction of $963,750.00. Following the transaction, the senior vice president now directly owns 600,301 shares of the company’s stock, valued at $9,256,641.42. The disclosure for this sale can be found here. Over the last three months, insiders sold 680,978 shares of company stock valued at $8,115,227. 1.60% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of AMD. North Star Asset Management Inc. raised its position in Advanced Micro Devices by 1.5% in the first quarter. North Star Asset Management Inc. now owns 15,330 shares of the semiconductor manufacturer’s stock valued at $223,000 after buying an additional 233 shares during the last quarter. Pier Capital LLC raised its position in Advanced Micro Devices by 1.0% in the first quarter. Pier Capital LLC now owns 49,311 shares of the semiconductor manufacturer’s stock valued at $717,000 after buying an additional 474 shares during the last quarter. Louisiana State Employees Retirement System raised its position in Advanced Micro Devices by 1.5% in the second quarter. Louisiana State Employees Retirement System now owns 48,100 shares of the semiconductor manufacturer’s stock valued at $600,000 after buying an additional 700 shares during the last quarter. Concert Wealth Management Inc. raised its position in Advanced Micro Devices by 4.8% in the first quarter. Concert Wealth Management Inc. now owns 16,560 shares of the semiconductor manufacturer’s stock valued at $188,000 after buying an additional 760 shares during the last quarter. Finally, Amalgamated Bank raised its position in Advanced Micro Devices by 0.8% in the first quarter. Amalgamated Bank now owns 105,562 shares of the semiconductor manufacturer’s stock valued at $1,536,000 after buying an additional 885 shares during the last quarter. 56.93% of the stock is owned by institutional investors.

About Advanced Micro Devices

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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