Advanced Micro Devices (NASDAQ:AMD) Cut to Neutral at 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 research note published on Friday morning, Marketbeat reports. The Goldman Sachs Group currently has $129.00 price objective on the semiconductor manufacturer’s stock, down from their prior price objective of $175.00.

Other research analysts have also recently issued reports about the stock. 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 research report on Wednesday, October 30th. Benchmark reaffirmed a “buy” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a research report on Thursday, October 31st. Citigroup lowered their price objective on shares of 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. Barclays decreased their price target on shares of Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Finally, Rosenblatt Securities restated a “buy” rating and set a $250.00 target price on shares of Advanced Micro Devices in a research note on Monday, October 28th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $185.22.

Advanced Micro Devices Price Performance

Advanced Micro Devices stock opened at $116.04 on Friday. Advanced Micro Devices has a 12 month low of $114.45 and a 12 month high of $227.30. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. The business’s 50 day simple moving average is $132.58 and its 200 day simple moving average is $146.57. The company has a market cap of $188.31 billion, a price-to-earnings ratio of 104.54, a PEG ratio of 1.88 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, meeting 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 company had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same quarter last year, the company earned $0.53 earnings per share. The firm’s quarterly revenue was up 17.6% on a year-over-year basis. Sell-side analysts forecast that Advanced Micro Devices will post 2.54 EPS for the current year.

Insider Buying and Selling

In other news, EVP Forrest Eugene Norrod sold 40,540 shares of Advanced Micro Devices stock in a transaction dated 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 transaction, the executive vice president now owns 293,347 shares in the company, valued at $41,558,469.49. The trade was a 12.14 % decrease in their position. 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 dated Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total value of $11,509,600.00. Following the completion of the sale, the chief executive officer now directly owns 3,566,762 shares in the company, valued at $513,150,048.94. This represents a 2.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 197,036 shares of company stock worth $28,165,821 in the last 90 days. 0.73% of the stock is owned by company insiders.

Institutional Trading of Advanced Micro Devices

Hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its position 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 buying an additional 177,700 shares in the last quarter. Swiss National Bank grew its holdings in shares of Advanced Micro Devices by 0.3% during the 3rd quarter. Swiss National Bank now owns 4,797,575 shares of the semiconductor manufacturer’s stock worth $787,186,000 after purchasing an additional 12,500 shares in the last quarter. Shum Financial Group Inc. bought a new position in shares of Advanced Micro Devices in the third quarter worth $858,000. State Street Corp raised its stake in Advanced Micro Devices by 2.3% in the third quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock valued at $11,513,538,000 after purchasing an additional 1,580,035 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Advanced Micro Devices by 1.3% during the third quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock worth $5,597,337,000 after purchasing an additional 441,924 shares during the period. Institutional investors and hedge funds 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.