Benchmark Begins Coverage on Advanced Micro Devices (NASDAQ:AMD)

Benchmark assumed coverage on shares of Advanced Micro Devices (NASDAQ:AMD) in a research report released on Thursday morning, BenzingaRatingsTable reports. The brokerage issued a hold rating on the semiconductor manufacturer’s stock.

AMD has been the subject of a number of other reports. JPMorgan Chase & Co. upped their target price on Advanced Micro Devices from $25.00 to $33.00 and gave the company a neutral rating in a research report on Wednesday. Bank of America upped their target price on Advanced Micro Devices from $35.00 to $40.00 and gave the company a buy rating in a research report on Monday, June 10th. Mizuho downgraded Advanced Micro Devices from a buy rating to a neutral rating and upped their target price for the company from $33.00 to $37.00 in a research report on Thursday, July 18th. They noted that the move was a valuation call. Atlantic Securities initiated coverage on Advanced Micro Devices in a research report on Monday, July 22nd. They set a neutral rating and a $28.00 target price for the company. Finally, Cowen reiterated an outperform rating and set a $40.00 target price (up from $36.00) on shares of Advanced Micro Devices in a research report on Thursday, July 18th. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of Hold and an average target price of $31.08.

NASDAQ AMD traded down $0.42 on Thursday, reaching $29.44. The stock had a trading volume of 60,209,593 shares, compared to its average volume of 55,749,428. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.54 and a current ratio of 2.08. The stock’s fifty day moving average is $31.72. Advanced Micro Devices has a 1-year low of $16.03 and a 1-year high of $34.86. The stock has a market capitalization of $32.41 billion, a P/E ratio of 84.11, a P/E/G ratio of 2.36 and a beta of 3.06.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $0.08 EPS for the quarter, meeting analysts’ consensus estimates of $0.08. Advanced Micro Devices had a return on equity of 16.04% and a net margin of 3.25%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period in the prior year, the firm posted $0.14 EPS. The company’s revenue for the quarter was down 12.8% on a year-over-year basis. Analysts forecast that Advanced Micro Devices will post 0.5 EPS for the current fiscal year.

In other Advanced Micro Devices news, SVP Paul Darren Grasby sold 6,000 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $28.39, for a total value of $170,340.00. Following the completion of the transaction, the senior vice president now owns 22,979 shares of the company’s stock, valued at approximately $652,373.81. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Darla M. Smith sold 27,000 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $29.45, for a total value of $795,150.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,045,137 shares of company stock valued at $31,793,994. 1.50% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of AMD. Joseph P. Lucia & Associates LLC acquired a new stake in shares of Advanced Micro Devices in the first quarter valued at about $25,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Advanced Micro Devices in the first quarter valued at about $26,000. Advisory Alpha LLC acquired a new stake in shares of Advanced Micro Devices in the first quarter valued at about $26,000. Peddock Capital Advisors LLC increased its stake in shares of Advanced Micro Devices by 151.5% in the first quarter. Peddock Capital Advisors LLC now owns 1,021 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 615 shares during the period. Finally, Berman Capital Advisors LLC increased its stake in shares of Advanced Micro Devices by 99.4% in the first quarter. Berman Capital Advisors LLC now owns 1,077 shares of the semiconductor manufacturer’s stock valued at $27,000 after buying an additional 537 shares during the period. 60.98% of the stock is owned by institutional investors and hedge funds.

Advanced Micro Devices Company Profile

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. The company operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. Its products include x86 microprocessors as an accelerated processing unit (APU), chipsets, discrete and integrated graphics processing units (GPUs), and professional GPUs; and server and embedded processors, and semi-custom System-on-Chip (SoC) products and technology for game consoles.

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Analyst Recommendations for Advanced Micro Devices (NASDAQ:AMD)

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