Advanced Micro Devices (NASDAQ:AMD) Receives New Coverage from Analysts at Loop Capital

Loop Capital began coverage on shares of Advanced Micro Devices (NASDAQ:AMD) in a research report sent to investors on Monday, BenzingaRatingsTable reports. The firm issued a hold rating and a $32.00 price objective on the semiconductor manufacturer’s stock.

Several other brokerages also recently commented on AMD. ValuEngine upgraded Advanced Micro Devices from a hold rating to a buy rating in a research note on Thursday, August 8th. Morgan Stanley raised their target price on Advanced Micro Devices from $28.00 to $30.00 and gave the stock an equal weight rating in a research note on Wednesday, July 31st. Nomura raised their target price on Advanced Micro Devices from $33.00 to $37.00 and gave the stock a buy rating in a research note on Tuesday, July 9th. Citigroup set a $8.00 target price on Advanced Micro Devices and gave the stock a sell rating in a research note on Wednesday, July 31st. Finally, Deutsche Bank restated a hold rating and issued a $29.00 target price (up previously from $25.00) on shares of Advanced Micro Devices in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and thirteen have given a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $31.54.

Shares of NASDAQ AMD opened at $29.67 on Monday. Advanced Micro Devices has a 52 week low of $16.03 and a 52 week high of $35.55. The business has a 50-day simple moving average of $32.11 and a two-hundred day simple moving average of $28.02. The company has a quick ratio of 1.52, a current ratio of 2.08 and a debt-to-equity ratio of 0.54. The company has a market cap of $34.86 billion, a P/E ratio of 145.96, a P/E/G ratio of 2.73 and a beta of 3.06.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08. Advanced Micro Devices had a return on equity of 16.04% and a net margin of 3.25%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the company earned $0.14 EPS. The firm’s revenue was down 12.8% compared to the same quarter last year. Equities research analysts anticipate that Advanced Micro Devices will post 0.5 EPS for the current year.

In related news, insider Mark D. Papermaster sold 272,023 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $32.96, for a total transaction of $8,965,878.08. Following the transaction, the insider now directly owns 1,607,303 shares in the company, valued at approximately $52,976,706.88. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Devinder Kumar sold 127,735 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $28.30, for a total value of $3,614,900.50. Following the transaction, the chief financial officer now owns 709,990 shares in the company, valued at $20,092,717. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,878,524 shares of company stock worth $60,911,813. 1.50% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of AMD. Nuveen Asset Management LLC grew its position in shares of Advanced Micro Devices by 5,801.3% in the 2nd quarter. Nuveen Asset Management LLC now owns 13,053,535 shares of the semiconductor manufacturer’s stock worth $396,435,000 after buying an additional 12,832,339 shares during the last quarter. Artisan Partners Limited Partnership grew its position in shares of Advanced Micro Devices by 66.9% in the 1st quarter. Artisan Partners Limited Partnership now owns 14,941,422 shares of the semiconductor manufacturer’s stock worth $381,305,000 after buying an additional 5,991,132 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Advanced Micro Devices by 4.1% in the 2nd quarter. Vanguard Group Inc. now owns 107,711,218 shares of the semiconductor manufacturer’s stock worth $3,271,190,000 after buying an additional 4,205,071 shares during the last quarter. Frontier Capital Management Co. LLC grew its position in shares of Advanced Micro Devices by 613.2% in the 1st quarter. Frontier Capital Management Co. LLC now owns 2,658,453 shares of the semiconductor manufacturer’s stock worth $67,844,000 after buying an additional 2,285,726 shares during the last quarter. Finally, Scout Investments Inc. bought a new stake in shares of Advanced Micro Devices in the 2nd quarter worth approximately $55,709,000. Institutional investors and hedge funds own 60.38% of the company’s stock.

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.

Featured Story: Trading Ex-Dividend

Analyst Recommendations for Advanced Micro Devices (NASDAQ:AMD)

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