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 report report published on Monday.

AMD has been the topic of a number of other reports. Canaccord Genuity upped their target price on shares of Advanced Micro Devices to $17.00 and gave the stock a buy rating in a research note 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 objective on the stock in a research note on Monday, May 1st. Credit Suisse Group AG reiterated a neutral rating and set a $10.50 price objective (up from $7.00) on shares of Advanced Micro Devices in a research note on Thursday, February 2nd. Bank of America Corp reiterated a buy rating and set a $16.50 price objective on shares of Advanced Micro Devices in a research note on Friday, March 3rd. Finally, Jefferies Group LLC increased their price objective on shares of Advanced Micro Devices to $16.00 and gave the company a buy rating in a research note on Monday, March 20th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $12.28.

Shares of Advanced Micro Devices (NASDAQ:AMD) opened at 11.275 on Monday. The company has a 50 day moving average price of $12.45 and a 200 day moving average price of $11.49. The company’s market capitalization is $10.66 billion. Advanced Micro Devices has a 1-year low of $3.81 and a 1-year high of $15.55. Advanced Micro Devices also was the target of unusually large options trading activity on Tuesday. Stock investors bought 25,829 put options on the company. This represents an increase of 386% compared to the typical daily volume of 5,311 put options.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Monday, May 1st. The semiconductor manufacturer reported ($0.04) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.04). The company had revenue of $984 million during the quarter, compared to the consensus estimate of $984.40 million. Advanced Micro Devices’s revenue was up 18.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.12) earnings per share. Equities analysts predict that Advanced Micro Devices will post $0.07 EPS for the current fiscal year.

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In related news, Director Bruce L. Claflin sold 20,000 shares of the business’s stock in a transaction dated Monday, April 10th. The shares were sold at an average price of $13.33, for a total transaction of $266,600.00. Following the transaction, the director now directly owns 638,902 shares in the company, valued at $8,516,563.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Development Co Pjsc Mubadala sold 45,000,000 shares of the business’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $13.63, for a total transaction of $613,350,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,262,175 shares of company stock worth $616,243,639. Company insiders own 1.00% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Advanced Micro Devices by 11.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,595 shares of the semiconductor manufacturer’s stock worth $177,000 after buying an additional 2,598 shares during the last quarter. Zweig DiMenna Associates LLC acquired a new position in Advanced Micro Devices during the third quarter worth $7,532,000. Profund Advisors LLC raised its position in Advanced Micro Devices by 57.1% in the third quarter. Profund Advisors LLC now owns 201,574 shares of the semiconductor manufacturer’s stock worth $1,393,000 after buying an additional 73,299 shares during the last quarter. Riverhead Capital Management LLC acquired a new position in Advanced Micro Devices during the third quarter worth $138,000. Finally, Principal Financial Group Inc. raised its position in Advanced Micro Devices by 18.5% in the third quarter. Principal Financial Group Inc. now owns 2,844,611 shares of the semiconductor manufacturer’s stock worth $19,657,000 after buying an additional 443,392 shares during the last quarter. Hedge funds and other institutional investors own 54.77% of the company’s stock.

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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