Advanced Micro Devices (NASDAQ:AMD) Stock Rating Lowered by The Goldman Sachs Group

Advanced Micro Devices (NASDAQ:AMD) was downgraded by equities research analysts at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a note issued to investors on Friday, Marketbeat Ratings reports. They presently have a $129.00 price objective on the semiconductor manufacturer’s stock, down from their previous price objective of $175.00. The Goldman Sachs Group’s price objective indicates a potential upside of 11.17% from the stock’s current price.

A number of other brokerages also recently weighed in on AMD. StockNews.com raised shares of Advanced Micro Devices from a “sell” rating to a “hold” rating in a report on Monday, January 6th. Barclays reduced their price target on shares of Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $180.00 price target on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Bank of America downgraded shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and reduced their price target for the company from $180.00 to $155.00 in a report on Monday, December 9th. Finally, UBS Group reduced their price target on shares of Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $185.22.

Advanced Micro Devices Price Performance

NASDAQ AMD opened at $116.04 on Friday. 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 company has a fifty day simple moving average of $132.58 and a 200 day simple moving average of $146.64. The company has a market cap of $188.31 billion, a P/E ratio of 104.54, a P/E/G ratio of 1.88 and a beta of 1.66. Advanced Micro Devices has a 1 year low of $114.45 and a 1 year high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) 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 period in the prior year, the firm earned $0.53 EPS. Advanced Micro Devices’s quarterly revenue was up 17.6% compared to the same quarter last year. On average, sell-side analysts predict that Advanced Micro Devices will post 2.54 EPS for the current year.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Forrest Eugene Norrod sold 40,540 shares of Advanced Micro Devices stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the completion of the sale, the executive vice president now owns 293,347 shares in the company, valued at $41,558,469.49. The trade was a 12.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Lisa T. Su sold 80,000 shares of Advanced Micro Devices stock in a transaction that occurred 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 sale, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at approximately $513,150,048.94. This represents a 2.19 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 197,036 shares of company stock worth $28,165,821. 0.65% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Advanced Micro Devices

Institutional investors have recently modified their holdings of the business. Creative Capital Management Investments LLC grew its position in shares of Advanced Micro Devices by 124.6% during the 3rd quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 86 shares during the period. ZRC Wealth Management LLC grew its position in shares of Advanced Micro Devices by 90.4% during the 3rd quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 75 shares during the period. Fairway Wealth LLC bought a new position in Advanced Micro Devices during the 2nd quarter worth approximately $27,000. Global Wealth Strategies & Associates bought a new position in Advanced Micro Devices during the 4th quarter worth approximately $26,000. Finally, Abich Financial Wealth Management LLC boosted its stake in Advanced Micro Devices by 101.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 220 shares of the semiconductor manufacturer’s stock worth $36,000 after acquiring an additional 111 shares during the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

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.