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

The Goldman Sachs Group downgraded shares of Advanced Micro Devices (NASDAQ:AMD) from a buy rating to a neutral rating in a report released on Friday, MarketBeat Ratings reports. The firm currently has $129.00 target price on the semiconductor manufacturer’s stock, down from their previous target price of $175.00.

A number of other analysts also recently commented on the company. Hsbc Global Res downgraded Advanced Micro Devices from a “strong-buy” rating to a “moderate sell” rating in a research report on Wednesday. TD Cowen decreased their price objective on shares of Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Rosenblatt Securities restated a “buy” rating and set a $250.00 target price on shares of Advanced Micro Devices in a report on Monday, October 28th. UBS Group reduced their price target on shares of Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Finally, Piper Sandler reissued an “overweight” rating and set a $180.00 price objective (down from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Advanced Micro Devices presently has an average rating of “Moderate Buy” and a consensus price target of $185.22.

Advanced Micro Devices Stock Performance

NASDAQ:AMD opened at $116.04 on Friday. The firm’s fifty day simple moving average is $132.58 and its 200-day simple moving average is $146.74. 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 stock has a market cap of $188.31 billion, a PE ratio of 104.54, a price-to-earnings-growth ratio of 1.88 and a beta of 1.66. Advanced Micro Devices has a fifty-two week low of $114.45 and a fifty-two week high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share 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 company had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same period in the prior year, the business posted $0.53 earnings per share. The firm’s revenue for the quarter was up 17.6% compared to the same quarter last year. Analysts expect that Advanced Micro Devices will post 2.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Forrest Eugene Norrod sold 40,540 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. The trade was a 12.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Lisa T. Su sold 80,000 shares of Advanced Micro Devices 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 sale, the chief executive officer now directly owns 3,566,762 shares in the company, valued at $513,150,048.94. This trade represents a 2.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 197,036 shares of company stock worth $28,165,821 over the last quarter. 0.65% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Andra AP fonden acquired a new stake in Advanced Micro Devices in the second quarter valued at $2,855,000. Johnson Investment Counsel Inc. raised its stake in Advanced Micro Devices by 6.4% during the second quarter. Johnson Investment Counsel Inc. now owns 10,251 shares of the semiconductor manufacturer’s stock valued at $1,663,000 after buying an additional 620 shares in the last quarter. PFG Advisors raised its stake in Advanced Micro Devices by 4.4% during the second quarter. PFG Advisors now owns 6,852 shares of the semiconductor manufacturer’s stock valued at $1,111,000 after buying an additional 291 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in shares of Advanced Micro Devices by 9.8% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 140,373 shares of the semiconductor manufacturer’s stock worth $22,770,000 after acquiring an additional 12,483 shares in the last quarter. Finally, Meeder Advisory Services Inc. raised its position in shares of Advanced Micro Devices by 34.8% during the 2nd quarter. Meeder Advisory Services Inc. now owns 28,404 shares of the semiconductor manufacturer’s stock valued at $4,607,000 after acquiring an additional 7,334 shares in the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Company Profile

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.