Merrill Lynch cut shares of Advanced Micro Devices (NYSE:AMD) from a buy rating to a neutral rating in a research note issued to investors on Friday, Analyst Ratings Net reports.
Several other analysts have also recently commented on the stock. Analysts at Citigroup Inc. reiterated a neutral rating on shares of Advanced Micro Devices in a research note to investors on Friday. They now have a $4.50 price target on the stock, down previously from $5.00. Separately, analysts at Credit Suisse downgraded shares of Advanced Micro Devices from a neutral rating to an underperform rating in a research note to investors on Friday. They now have a $3.00 price target on the stock. Finally, analysts at Bank of America Corp. downgraded shares of Advanced Micro Devices from a buy rating to a neutral rating in a research note to investors on Friday. They now have a $4.50 price target on the stock, down previously from $6.00. Seven investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $4.51.
Advanced Micro Devices (NYSE:AMD) traded down 5.64% during mid-day trading on Friday, hitting $3.18. 92,410,088 shares of the company’s stock traded hands. Advanced Micro Devices has a 52-week low of $1.81 and a 52-week high of $4.65. The stock’s 50-day moving average is $3.64 and its 200-day moving average is $3.4. The company’s market cap is $2.407 billion.
Advanced Micro Devices (NYSE:AMD) last issued its quarterly earnings data on Thursday, October 17th. The company reported $0.04 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.02 by $0.02. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the previous year, the company posted ($0.20) earnings per share. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. On average, analysts predict that Advanced Micro Devices will post $-0.12 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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