Bank of America Corporation Reaffirms Buy Rating for Advanced Micro Devices, Inc. (AMD)

Advanced Micro Devices, Inc. (NASDAQ:AMD)‘s stock had its “buy” rating reiterated by research analysts at Bank of America Corporation in a research report issued to clients and investors on Tuesday. They currently have a $18.00 target price on the semiconductor manufacturer’s stock. Bank of America Corporation’s target price would suggest a potential upside of 62.16% from the stock’s previous close.

A number of other analysts have also commented on the company. Jefferies Group LLC reissued a “buy” rating and set a $19.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, October 25th. BNP Paribas upgraded Advanced Micro Devices from a “neutral” rating to an “outperform” rating in a research report on Thursday, October 12th. TheStreet upgraded Advanced Micro Devices from a “d” rating to a “c-” rating in a report on Tuesday, October 24th. Morgan Stanley reiterated an “equal weight” rating and issued a $6.00 target price on shares of Advanced Micro Devices in a report on Thursday, August 31st. Finally, Barclays PLC downgraded Advanced Micro Devices from an “equal weight” rating to an “underweight” rating and set a $9.00 target price for the company. in a report on Tuesday, July 18th. Six research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Advanced Micro Devices presently has an average rating of “Hold” and an average price target of $14.05.

Shares of Advanced Micro Devices (AMD) traded down $0.02 during midday trading on Tuesday, hitting $11.10. The company had a trading volume of 23,905,786 shares, compared to its average volume of 68,735,438. The company has a current ratio of 1.70, a quick ratio of 1.20 and a debt-to-equity ratio of 2.61. Advanced Micro Devices has a 52 week low of $6.79 and a 52 week high of $15.65.

TRADEMARK VIOLATION WARNING: This news story was originally posted by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this news story on another website, it was copied illegally and republished in violation of US & international trademark and copyright laws. The correct version of this news story can be accessed at https://sportsperspectives.com/2017/11/15/bank-of-america-corporation-reaffirms-buy-rating-for-advanced-micro-devices-inc-amd.html.

In other Advanced Micro Devices news, CEO Lisa T. Su sold 325,000 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $12.46, for a total value of $4,049,500.00. Following the transaction, the chief executive officer now directly owns 2,037,139 shares in the company, valued at approximately $25,382,751.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Lisa T. Su sold 125,000 shares of the company’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $12.18, for a total value of $1,522,500.00. Following the completion of the transaction, the chief executive officer now owns 2,037,139 shares in the company, valued at $24,812,353.02. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,312,587 shares of company stock worth $16,030,861. 1.60% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in AMD. Baillie Gifford & Co. bought a new position in Advanced Micro Devices in the 2nd quarter worth about $184,767,000. Vanguard Group Inc. increased its stake in Advanced Micro Devices by 6.6% in the 2nd quarter. Vanguard Group Inc. now owns 93,092,619 shares of the semiconductor manufacturer’s stock worth $1,161,796,000 after acquiring an additional 5,797,819 shares during the last quarter. CI Investments Inc. boosted its holdings in shares of Advanced Micro Devices by 312.3% in the 3rd quarter. CI Investments Inc. now owns 7,322,893 shares of the semiconductor manufacturer’s stock worth $93,367,000 after purchasing an additional 5,546,993 shares in the last quarter. American Century Companies Inc. purchased a new position in shares of Advanced Micro Devices in the 3rd quarter worth about $49,674,000. Finally, Janus Henderson Group PLC boosted its holdings in shares of Advanced Micro Devices by 3,815.8% in the 2nd quarter. Janus Henderson Group PLC now owns 3,833,805 shares of the semiconductor manufacturer’s stock worth $47,845,000 after purchasing an additional 3,735,900 shares in the last quarter. Institutional investors and hedge funds own 58.63% 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)

Receive News & Ratings for Advanced Micro Devices Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advanced Micro Devices Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply