Advanced Micro Devices (NASDAQ:AMD) Stock Rating Lowered by Melius

Advanced Micro Devices (NASDAQ:AMD) was downgraded by stock analysts at Melius from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. They currently have a $129.00 price objective on the semiconductor manufacturer’s stock, down from their previous price objective of $160.00. Melius’ price target would indicate a potential upside of 12.12% from the company’s current price.

A number of other brokerages have also recently weighed in on AMD. The Goldman Sachs Group cut shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $175.00 to $129.00 in a report on Friday, January 10th. Citigroup decreased their price objective on shares of Advanced Micro Devices from $200.00 to $175.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Wolfe Research cut Advanced Micro Devices from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 16th. HSBC reiterated a “reduce” rating and issued a $110.00 target price (down previously from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, January 8th. Finally, Bank of America downgraded shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and cut their target price for the stock from $180.00 to $155.00 in a research report on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.64.

Advanced Micro Devices Stock Down 6.3 %

Advanced Micro Devices stock opened at $115.05 on Tuesday. The firm has a market capitalization of $186.71 billion, a P/E ratio of 103.65, a P/E/G ratio of 1.09 and a beta of 1.66. The company has a 50-day simple moving average of $128.12 and a 200-day simple moving average of $143.21. Advanced Micro Devices has a one year low of $112.80 and a one year high of $227.30. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, hitting the consensus estimate of $0.92. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The business had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter in the prior year, the company posted $0.53 earnings per share. The company’s quarterly revenue was up 17.6% compared to the same quarter last year. As a group, equities analysts expect that Advanced Micro Devices will post 2.54 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Lisa T. Su sold 76,496 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $142.66, for a total value of $10,912,919.36. Following the completion of the sale, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at $508,834,266.92. This trade represents a 2.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Forrest Eugene Norrod sold 40,540 shares of Advanced Micro Devices stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the transaction, the executive vice president now directly owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. This trade represents a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 197,036 shares of company stock valued at $28,165,821. Company insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

Hedge funds have recently bought and sold shares of the stock. Creative Capital Management Investments LLC raised its stake in Advanced Micro Devices by 124.6% in the 3rd quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 86 shares in the last quarter. ZRC Wealth Management LLC raised its position in shares of Advanced Micro Devices by 90.4% in the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 75 shares in the last quarter. Global Wealth Strategies & Associates bought a new stake in shares of Advanced Micro Devices in the fourth quarter valued at approximately $26,000. Retirement Wealth Solutions LLC bought a new position in Advanced Micro Devices during the 4th quarter worth $32,000. Finally, FSA Wealth Management LLC bought a new stake in shares of Advanced Micro Devices during the 3rd quarter valued at $41,000. 71.34% of the stock is currently owned by institutional investors and hedge funds.

About Advanced Micro Devices

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates through Data Center, Client, Gaming, and Embedded segments. The company offers x86 microprocessors and graphics processing units (GPUs) as an accelerated processing unit, chipsets, data center, and professional GPUs; and embedded processors, and semi-custom system-on-chip (SoC) products, microprocessor and SoC development services and technology, data processing unites, field programmable gate arrays (FPGA), and adaptive SoC products.