Advanced Micro Devices (NASDAQ:AMD) Rating Lowered to Peer Perform at Wolfe Research

Advanced Micro Devices (NASDAQ:AMD) was downgraded by research analysts at Wolfe Research from an “outperform” rating to a “peer perform” rating in a note issued to investors on Thursday, MarketBeat reports.

AMD has been the subject of a number of other reports. Citigroup lowered their price target on Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Mizuho cut their target price on shares of Advanced Micro Devices from $180.00 to $160.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Benchmark reissued a “buy” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a report on Thursday, October 31st. Barclays dropped their price objective on Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Finally, Hsbc Global Res cut Advanced Micro Devices from a “strong-buy” rating to a “moderate sell” rating in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $178.61.

Advanced Micro Devices Trading Up 2.5 %

AMD opened at $121.46 on Thursday. Advanced Micro Devices has a fifty-two week low of $114.41 and a fifty-two week high of $227.30. The company has a market cap of $197.11 billion, a price-to-earnings ratio of 109.42, a price-to-earnings-growth ratio of 1.03 and a beta of 1.66. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78. The firm has a 50 day simple moving average of $130.47 and a 200 day simple moving average of $145.58.

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

Insiders Place Their Bets

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total value of $5,743,301.80. Following the sale, the executive vice president now owns 293,347 shares in the company, valued at approximately $41,558,469.49. This represents a 12.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lisa T. Su sold 80,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the completion of the transaction, the chief executive officer now directly owns 3,566,762 shares in the company, 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. Over the last three months, insiders have sold 197,036 shares of company stock valued at $28,165,821. 0.65% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AMD. Creative Capital Management Investments LLC lifted its holdings in 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 purchasing an additional 86 shares during the last quarter. ZRC Wealth Management LLC increased its position in 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. Global Wealth Strategies & Associates acquired a new stake in shares of Advanced Micro Devices during the fourth quarter worth $26,000. Retirement Wealth Solutions LLC bought a new stake in shares of Advanced Micro Devices in the fourth quarter valued at about $32,000. Finally, Abich Financial Wealth Management LLC grew its stake in shares of Advanced Micro Devices by 101.8% in the second quarter. Abich Financial Wealth Management LLC now owns 220 shares of the semiconductor manufacturer’s stock valued at $36,000 after acquiring an additional 111 shares in the last quarter. 71.34% of the stock is owned by institutional investors.

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.