Melius Downgrades Advanced Micro Devices (NASDAQ:AMD) to Hold

Advanced Micro Devices (NASDAQ:AMD) was downgraded by analysts at Melius from a “buy” rating to a “hold” rating in a report released on Tuesday, Marketbeat reports. They currently have a $129.00 price objective on the semiconductor manufacturer’s stock, down from their prior price objective of $160.00. Melius’ target price points to a potential upside of 9.93% from the company’s current price.

A number of other equities analysts have also weighed in on the company. TD Cowen lowered their target price on Advanced Micro Devices from $185.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Barclays decreased their price objective on Advanced Micro Devices from $170.00 to $140.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Wolfe Research downgraded shares of Advanced Micro Devices from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 16th. KeyCorp reduced their target price on shares of Advanced Micro Devices from $220.00 to $150.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. Finally, Roth Mkm reiterated a “buy” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a research note on Friday, October 11th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and a consensus target price of $171.86.

Advanced Micro Devices Stock Up 2.8 %

Shares of NASDAQ:AMD opened at $117.35 on Tuesday. Advanced Micro Devices has a 12-month low of $112.80 and a 12-month high of $227.30. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. The firm has a market cap of $190.44 billion, a P/E ratio of 105.72, a P/E/G ratio of 1.09 and a beta of 1.66. The business has a fifty day simple moving average of $127.14 and a 200 day simple moving average of $142.27.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter in the prior year, the firm posted $0.53 earnings per share. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. Analysts predict that Advanced Micro Devices will post 2.54 earnings per share for the current year.

Insider Transactions at Advanced Micro Devices

In related news, CEO Lisa T. Su sold 76,496 shares of Advanced Micro Devices stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total transaction of $10,912,919.36. Following the transaction, the chief executive officer now owns 3,566,762 shares in the company, valued at approximately $508,834,266.92. The trade was a 2.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, the executive vice president now owns 293,347 shares in the company, valued at approximately $41,558,469.49. The trade was a 12.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 197,036 shares of company stock valued at $28,165,821 in the last quarter. 0.65% of the stock is owned by insiders.

Hedge Funds Weigh In On Advanced Micro Devices

Several institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC grew its holdings 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 valued at $1,289,818,000 after purchasing an additional 7,815,305 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Advanced Micro Devices by 42.2% in the third quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock valued at $1,381,679,000 after buying an additional 2,497,056 shares in the last quarter. Van ECK Associates Corp increased its stake in Advanced Micro Devices by 23.3% during the 4th quarter. Van ECK Associates Corp now owns 11,859,744 shares of the semiconductor manufacturer’s stock worth $1,432,538,000 after buying an additional 2,238,866 shares during the period. State Street Corp increased its holdings in Advanced Micro Devices by 2.3% during the 3rd quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after purchasing an additional 1,580,035 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Advanced Micro Devices by 8.7% in the 3rd 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 purchasing an additional 1,565,083 shares in the last quarter. 71.34% of the stock is owned by hedge funds and other 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.