Advanced Micro Devices Given Neutral Rating at Zacks (AMD)

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Advanced Micro Devices (NYSE:AMD)‘s stock had its “neutral” rating reaffirmed by Zacks in a report released on Wednesday. They currently have a $4.25 target price on the stock. Zacks‘s price objective indicates a potential upside of 5.99% from the stock’s previous close.

Zacks’ analyst wrote, “AMD is the second largest producer of microprocessors, GPUs and chipsets in the world. Its first-quarter earnings were above the Zacks Consensus Estimate by a couple of cents driven by strong demand for semi-custom gaming APUs. Also, the company provided an encouraging forward sales guidance. The company’s new products, strength in graphics, increased game console wins, manufacturing process advancements and position in China remain positives. At the same time, Intel remains a strong competitor with superior strategy, technological prowess and the clout that may be expected of the market leader. While AMD may be able to carve out its own niche, its relatively low cash position and significant leverage indicate that this will not be easy. We are therefore reiterating our Neutral recommendation on AMD shares.”

A number of other analysts have also recently weighed in on AMD. Analysts at Ned Davis Research upgraded shares of Advanced Micro Devices from a “sell” rating to a “neutral” rating in a research note on Monday, May 12th. Separately, analysts at Argus reiterated a “hold” rating on shares of Advanced Micro Devices in a research note on Tuesday, April 22nd. Finally, analysts at Credit Suisse reiterated an “underperform” rating on shares of Advanced Micro Devices in a research note on Monday, April 21st. They now have a $3.00 price target on the stock. Five analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company’s stock. Advanced Micro Devices currently has an average rating of “Hold” and an average price target of $4.92.

Advanced Micro Devices (NYSE:AMD) opened at 4.02 on Wednesday. Advanced Micro Devices has a 52 week low of $3.04 and a 52 week high of $4.65. The stock has a 50-day moving average of $3.99 and a 200-day moving average of $3.79. The company has a market cap of $3.063 billion and a price-to-earnings ratio of 83.54. Advanced Micro Devices also was the target of a large decrease in short interest in April. As of April 30th, there was short interest totalling 114,641,198 shares, a decrease of 5.0% from the April 15th total of 120,635,807 shares. Approximately 18.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 36,489,991 shares, the short-interest ratio is presently 3.1 days.

Advanced Micro Devices (NYSE:AMD) last issued its quarterly earnings data on Thursday, April 17th. The company reported $0.02 EPS for the quarter. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the company posted ($0.13) earnings per share. The company’s quarterly revenue was up 28.4% on a year-over-year basis. On average, analysts predict that Advanced Micro Devices will post $0.19 earnings per share for the current fiscal year.

Advanced Micro Devices, Inc (NYSE:AMD) is a global semiconductor company with facilities around the world.

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