Advanced Micro Devices, Inc. (NASDAQ:AMD) Given a $18.00 Price Target by Bank of America Corporation Analysts

Bank of America Corporation set a $18.00 target price on Advanced Micro Devices, Inc. (NASDAQ:AMD) in a research report sent to investors on Wednesday. The brokerage currently has a buy rating on the semiconductor manufacturer’s stock.

Several other analysts have also commented on the company. Mizuho reaffirmed a buy rating and issued a $17.00 price target (up previously from $15.00) on shares of Advanced Micro Devices in a research note on Wednesday. Deutsche Bank AG reaffirmed a hold rating and issued a $12.00 price target (up previously from $10.00) on shares of Advanced Micro Devices in a research note on Wednesday. Jefferies Group LLC set a $19.00 price target on Advanced Micro Devices and gave the company a buy rating in a research note on Wednesday. BMO Capital Markets lowered Advanced Micro Devices from an outperform rating to a market perform rating and set a $15.00 price target on the stock. in a research note on Wednesday. Finally, Robert W. Baird began coverage on Advanced Micro Devices in a research report on Wednesday. They issued an outperform rating and a $20.00 price objective for the company. Five investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Hold and an average target price of $14.10.

Shares of Advanced Micro Devices (NASDAQ:AMD) traded down 1.20% during midday trading on Wednesday, reaching $13.95. The company’s stock had a trading volume of 66,763,754 shares. The stock has a 50 day moving average price of $13.28 and a 200-day moving average price of $12.67. The company’s market capitalization is $13.18 billion. Advanced Micro Devices has a 52-week low of $5.66 and a 52-week high of $15.65. Advanced Micro Devices also was the target of some unusual options trading on Wednesday. Investors bought 260,472 call options on the stock. 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 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.04. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.16 billion. Advanced Micro Devices had a negative return on equity of 24.34% and a negative net margin of 11.82%. Advanced Micro Devices’s quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.05) EPS. Equities research analysts expect that Advanced Micro Devices will post $0.10 EPS for the current year.

In other news, SVP James Robert Anderson sold 20,000 shares of the company’s stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $14.19, for a total transaction of $283,800.00. Following the completion of the transaction, the senior vice president now directly owns 442,363 shares of the company’s stock, valued at $6,277,130.97. 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 the company’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $15.42, for a total value 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. Insiders own 1.60% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. K.J. Harrison & Partners Inc purchased a new position in Advanced Micro Devices during the second quarter valued at $125,000. Nwam LLC boosted its position in Advanced Micro Devices by 31.6% in the second quarter. Nwam LLC now owns 15,617 shares of the semiconductor manufacturer’s stock valued at $195,000 after buying an additional 3,750 shares in the last quarter. Great West Life Assurance Co. Can boosted its position in Advanced Micro Devices by 1.8% in the second quarter. Great West Life Assurance Co. Can now owns 560,414 shares of the semiconductor manufacturer’s stock valued at $6,981,000 after buying an additional 9,853 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in Advanced Micro Devices by 6.9% in the second quarter. Janney Montgomery Scott LLC now owns 153,810 shares of the semiconductor manufacturer’s stock valued at $1,920,000 after buying an additional 9,898 shares in the last quarter. Finally, IBM Retirement Fund purchased a new position in Advanced Micro Devices during the second quarter valued at $153,000. 56.93% of the stock is owned by institutional investors.

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.