HSBC Reaffirms Reduce Rating for Advanced Micro Devices (NASDAQ:AMD)

Advanced Micro Devices (NASDAQ:AMD)‘s stock had its “reduce” rating reissued by HSBC in a research note issued on Wednesday, Marketbeat reports. They presently have a $110.00 price target on the semiconductor manufacturer’s stock, down from their previous price target of $200.00. HSBC’s target price indicates a potential downside of 9.72% from the stock’s previous close.

Several other research analysts have also recently commented on AMD. UBS Group decreased their target price on shares of Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $180.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Barclays decreased their price target on Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Benchmark restated a “buy” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research note on Thursday, October 31st. Finally, Mizuho reduced their price objective on shares of Advanced Micro Devices from $185.00 to $180.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $187.85.

Advanced Micro Devices Trading Down 4.3 %

Shares of NASDAQ AMD opened at $121.84 on Wednesday. Advanced Micro Devices has a 12-month low of $117.90 and a 12-month high of $227.30. The company has a market cap of $197.72 billion, a price-to-earnings ratio of 109.77, a price-to-earnings-growth ratio of 1.88 and a beta of 1.66. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. The stock’s 50 day simple moving average is $133.09 and its 200 day simple moving average is $147.05.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.92. The company had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.71 billion. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period last year, the business posted $0.53 earnings per share. Equities research analysts expect that Advanced Micro Devices will post 2.54 EPS for the current year.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction that occurred 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 owns 293,347 shares in the company, valued at $41,558,469.49. This trade represents a 12.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Lisa T. Su sold 80,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the completion of the sale, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at $513,150,048.94. The trade was a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 197,036 shares of company stock valued at $28,165,821 in the last three months. Corporate insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC grew its stake in shares of Advanced Micro Devices by 17,137.3% in the third quarter. International Assets Investment Management LLC now owns 7,860,909 shares of the semiconductor manufacturer’s stock worth $1,289,818,000 after acquiring an additional 7,815,305 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Advanced Micro Devices by 42.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock worth $1,381,679,000 after purchasing an additional 2,497,056 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Advanced Micro Devices during the 2nd quarter worth about $296,178,000. State Street Corp raised its position in shares of Advanced Micro Devices by 2.3% during the third quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock valued at $11,513,538,000 after buying an additional 1,580,035 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Advanced Micro Devices by 8.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,472,211 shares of the semiconductor manufacturer’s stock valued at $3,195,000,000 after buying an additional 1,565,083 shares during the period. 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.