Analysts Set Advanced Micro Devices, Inc. (NASDAQ:AMD) Price Target at $13.03

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) have earned an average recommendation of “Hold” from the thirty-two analysts that are presently covering the stock, Marketbeat reports. Five analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $12.98.

A number of equities research analysts recently commented on the stock. Morgan Stanley reiterated an “equal weight” rating on shares of Advanced Micro Devices in a report on Monday, May 15th. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and set a $10.60 price target on shares of Advanced Micro Devices in a report on Monday, June 12th. Sanford C. Bernstein reiterated a “sell” rating on shares of Advanced Micro Devices in a report on Tuesday, April 25th. Wells Fargo & Company reiterated an “outperform” rating and set a $15.00 price target on shares of Advanced Micro Devices in a report on Friday, June 30th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $15.00 price target on shares of Advanced Micro Devices in a report on Wednesday, May 17th.

Advanced Micro Devices (NASDAQ:AMD) traded up 2.02% during trading on Friday, hitting $14.16. 70,919,029 shares of the stock traded hands. The stock’s market cap is $13.38 billion. Advanced Micro Devices has a 12 month low of $5.45 and a 12 month high of $15.55. The company has a 50-day moving average price of $12.86 and a 200-day moving average price of $12.56.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Monday, May 1st. The semiconductor manufacturer reported ($0.04) EPS for the quarter, meeting the Zacks’ 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 during the quarter, compared to analyst estimates of $984.40 million. During the same period in the prior year, the business posted ($0.12) EPS. The firm’s revenue was up 18.3% compared to the same quarter last year. Equities research analysts expect that Advanced Micro Devices will post $0.07 EPS for the current year.

In other news, CEO Lisa T. Su sold 87,500 shares of the stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $10.24, for a total value of $896,000.00. Following the transaction, the chief executive officer now owns 1,429,540 shares in the company, valued at approximately $14,638,489.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Darla M. Smith sold 9,620 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $10.98, for a total transaction of $105,627.60. Following the completion of the transaction, the insider now owns 19,808 shares in the company, valued at approximately $217,491.84. The disclosure for this sale can be found here. Insiders sold a total of 618,478 shares of company stock worth $7,151,477 in the last quarter. Company insiders own 1.60% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Meeder Asset Management Inc. acquired a new position in shares of Advanced Micro Devices during the first quarter valued at $100,000. Intellectus Partners LLC acquired a new position in shares of Advanced Micro Devices during the first quarter valued at $116,000. ING Groep NV acquired a new position in shares of Advanced Micro Devices during the first quarter valued at $127,000. Bluestein R H & Co. acquired a new position in shares of Advanced Micro Devices during the first quarter valued at $146,000. Finally, Harbor Advisors LLC acquired a new position in shares of Advanced Micro Devices during the first quarter valued at $146,000. Hedge funds and other institutional investors own 56.93% of the company’s stock.

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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.

Analyst Recommendations for Advanced Micro Devices (NASDAQ:AMD)

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