Advanced Micro Devices (NASDAQ:AMD) Cut to “Hold” at Melius

Melius downgraded shares of Advanced Micro Devices (NASDAQ:AMD) from a buy rating to a hold rating in a report issued on Tuesday morning, MarketBeat.com reports. Melius currently has $129.00 target price on the semiconductor manufacturer’s stock, down from their prior target price of $160.00.

A number of other equities research analysts also recently commented on AMD. Wells Fargo & Company dropped their price objective on Advanced Micro Devices from $205.00 to $165.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Wolfe Research cut Advanced Micro Devices from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 16th. KeyCorp reduced their price objective on shares of Advanced Micro Devices from $220.00 to $150.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. Citigroup lowered their target price 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. Finally, HSBC reiterated a “reduce” rating and issued a $110.00 target price (down from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $171.04.

Advanced Micro Devices Price Performance

AMD opened at $118.86 on Tuesday. 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 stock has a market capitalization of $192.89 billion, a P/E ratio of 107.08, a price-to-earnings-growth ratio of 1.09 and a beta of 1.66. The company’s 50 day simple moving average is $126.74 and its 200-day simple moving average is $142.09. Advanced Micro Devices has a one year low of $112.80 and a one year high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.92. The business had revenue of $6.82 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.53 earnings per share. Sell-side analysts anticipate that Advanced Micro Devices will post 2.54 earnings per share for the current fiscal year.

Insider Transactions at Advanced Micro Devices

In other 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 transaction of $5,743,301.80. Following the sale, the executive vice president now directly owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. This represents a 12.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Lisa T. Su sold 76,496 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total value of $10,912,919.36. Following the completion of the transaction, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at approximately $508,834,266.92. This trade represents a 2.10 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 197,036 shares of company stock valued at $28,165,821. 0.73% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Advanced Micro Devices

Hedge funds and other institutional investors have recently modified their holdings of the business. Creative Capital Management Investments LLC lifted 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 valued at $25,000 after purchasing an additional 86 shares during the last quarter. ZRC Wealth Management LLC increased its holdings in shares of Advanced Micro Devices by 90.4% during the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 75 shares in the last quarter. Global Wealth Strategies & Associates bought a new position in shares of Advanced Micro Devices in the 4th quarter valued at $26,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Advanced Micro Devices during the 4th quarter valued at $32,000. Finally, Compass Financial Services Inc acquired a new stake in shares of Advanced Micro Devices during the 4th quarter valued at $39,000. Institutional investors 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.