Advanced Micro Devices, Inc. (AMD) Stock Rating Reaffirmed by Canaccord Genuity

Advanced Micro Devices, Inc. (NASDAQ:AMD)‘s stock had its “buy” rating reissued by analysts at Canaccord Genuity in a research note issued on Monday, July 17th. They currently have a $20.00 price objective on the semiconductor manufacturer’s stock. Canaccord Genuity’s target price indicates a potential upside of 52.44% from the company’s previous close.

AMD has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a report on Monday, May 1st. Jefferies Group LLC raised 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. Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of Advanced Micro Devices in a research note on Friday, May 19th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $15.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, May 17th. Finally, Mizuho raised their price target on shares of Advanced Micro Devices from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, May 2nd. Five research analysts have rated the stock with a sell rating, sixteen have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $14.18.

Advanced Micro Devices (NASDAQ:AMD) opened at 13.12 on Monday. Advanced Micro Devices has a 1-year low of $5.66 and a 1-year high of $15.65. The company has a 50 day moving average price of $13.36 and a 200 day moving average price of $12.73. The firm’s market cap is $12.40 billion.

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

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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, Director Mubadala Investment Co Pjsc sold 40,000,000 shares of the 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 transaction of $21,024,000,000,000,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 40,589,751 shares of company stock worth $21,024,000,007,258,100 in the last 90 days. Company insiders own 1.60% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in AMD. Meeder Asset Management Inc. purchased a new stake in Advanced Micro Devices during the first quarter valued at about $100,000. Intellectus Partners LLC purchased a new stake in Advanced Micro Devices during the first quarter valued at about $116,000. K.J. Harrison & Partners Inc bought a new stake in shares of Advanced Micro Devices during the second quarter worth about $125,000. ING Groep NV bought a new stake in shares of Advanced Micro Devices during the first quarter worth about $127,000. Finally, Global X Management Co. LLC bought a new stake in shares of Advanced Micro Devices during the second quarter worth about $143,000. 57.28% of the stock is owned by institutional investors.

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.