Advanced Micro Devices (NASDAQ:AMD) Stock Rating Lowered by Bank of America

Advanced Micro Devices (NASDAQ:AMD) was downgraded by equities researchers at Bank of America from a “buy” rating to a “neutral” rating in a note issued to investors on Monday, Marketbeat reports. They currently have a $155.00 price target on the semiconductor manufacturer’s stock, down from their previous price target of $180.00. Bank of America‘s target price would suggest a potential upside of 21.34% from the company’s previous close.

A number of other equities analysts have also issued reports on AMD. Citigroup cut their target price on Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Morgan Stanley cut their price target on shares of Advanced Micro Devices from $178.00 to $169.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 30th. UBS Group decreased their price objective 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. Roth Mkm reissued a “buy” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research report on Friday, October 11th. Finally, Edward Jones assumed coverage on shares of Advanced Micro Devices in a research report on Tuesday, August 20th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $192.36.

Advanced Micro Devices Stock Performance

NASDAQ:AMD opened at $127.74 on Monday. The firm’s fifty day simple moving average is $149.48 and its 200 day simple moving average is $153.01. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. Advanced Micro Devices has a twelve month low of $121.82 and a twelve month high of $227.30. The firm has a market capitalization of $207.30 billion, a price-to-earnings ratio of 115.08, a PEG ratio of 1.91 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, hitting the consensus estimate of $0.92. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The firm had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same period in the previous year, the company posted $0.53 EPS. Advanced Micro Devices’s revenue for the quarter was up 17.6% on a year-over-year basis. As a group, equities research analysts expect that Advanced Micro Devices will post 2.54 earnings per share for the current fiscal year.

Insider Activity

In other Advanced Micro Devices news, CEO Lisa T. Su sold 76,496 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was 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 $508,834,266.92. This trade represents a 2.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the business’s 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 completion of the sale, the executive vice president now owns 293,347 shares of the company’s stock, valued at $41,558,469.49. The trade was a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 197,036 shares of company stock worth $28,165,821 in the last three months. 0.65% of the stock is owned by insiders.

Institutional Investors Weigh In On Advanced Micro Devices

Several hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. raised its stake in shares of Advanced Micro Devices by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 9,656,965 shares of the semiconductor manufacturer’s stock valued at $1,584,515,000 after purchasing an additional 177,700 shares in the last quarter. Swiss National Bank raised its stake in shares of Advanced Micro Devices by 0.3% in the 3rd quarter. Swiss National Bank now owns 4,797,575 shares of the semiconductor manufacturer’s stock valued at $787,186,000 after buying an additional 12,500 shares in the last quarter. Shum Financial Group Inc. bought a new position in shares of Advanced Micro Devices during the 3rd quarter worth about $858,000. State Street Corp boosted its position in shares of 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 valued at $11,513,538,000 after acquiring an additional 1,580,035 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Advanced Micro Devices by 1.3% in the third quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock valued at $5,597,337,000 after acquiring an additional 441,924 shares during the period. 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.