Advanced Micro Devices, Inc. (NASDAQ:AMD) Receives Outperform Rating from Wells Fargo & Company

Advanced Micro Devices, Inc. (NASDAQ:AMD)‘s stock had its “outperform” rating reaffirmed by Wells Fargo & Company in a research report issued on Thursday.

Other equities research analysts also recently issued reports about the company. Sanford C. Bernstein reiterated a “sell” rating on shares of Advanced Micro Devices in a report on Tuesday, April 25th. Zacks Investment Research downgraded Advanced Micro Devices from a “buy” rating to a “hold” rating in a report on Friday, April 28th. Macquarie downgraded Advanced Micro Devices from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $16.00 to $10.00 in a report on Tuesday, May 2nd. Stifel Nicolaus reiterated a “hold” rating and set a $11.00 target price (up from $8.00) on shares of Advanced Micro Devices in a report on Tuesday, May 2nd. Finally, Mizuho raised their target price on Advanced Micro Devices from $13.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday, May 2nd. Five equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Advanced Micro Devices currently has a consensus rating of “Hold” and an average price target of $14.18.

Advanced Micro Devices (NASDAQ:AMD) opened at 12.83 on Thursday. The stock’s 50 day moving average is $13.59 and its 200 day moving average is $12.84. Advanced Micro Devices has a 12-month low of $5.66 and a 12-month high of $15.65. The stock’s market capitalization is $12.12 billion.

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

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In other news, Director Mubadala Investment Co Pjsc sold 40,000,000 shares of Advanced Micro Devices stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $525,600,000.00, for a total value of $21,024,000,000,000,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP James Robert Anderson sold 20,000 shares of Advanced Micro Devices stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $10.86, for a total value of $217,200.00. Following the completion of the transaction, the senior vice president now owns 300,334 shares of the company’s stock, valued at approximately $3,261,627.24. The disclosure for this sale can be found here. Insiders have sold a total of 41,390,216 shares of company stock worth $21,024,000,018,073,800 over the last 90 days. 1.60% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position 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 last quarter. Wellington Management Group LLP raised its position 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 last quarter. Old Mutual Global Investors UK Ltd. purchased a new position in shares of Advanced Micro Devices during the first quarter valued at approximately $129,039,000. MARSHALL WACE ASIA Ltd purchased a new position in shares of Advanced Micro Devices during the first quarter valued at approximately $63,654,000. Finally, Marshall Wace North America L.P. purchased a new position in shares of Advanced Micro Devices during the first quarter valued at approximately $63,654,000. Institutional investors own 57.34% of the company’s stock.

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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