Advanced Micro Devices (NASDAQ:AMD – Get Free Report) was downgraded by equities researchers at Melius from a “buy” rating to a “hold” rating in a report released on Tuesday, MarketBeat reports. They presently have a $129.00 target price on the semiconductor manufacturer’s stock, down from their prior target price of $160.00. Melius’ target price would indicate a potential upside of 9.93% from the stock’s current price.
A number of other brokerages have also recently weighed in on AMD. Wells Fargo & Company lowered their price target on Advanced Micro Devices from $205.00 to $165.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Morgan Stanley lowered their target price on shares of Advanced Micro Devices from $169.00 to $158.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. HSBC reissued a “reduce” rating and set a $110.00 price target (down from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, January 8th. Wolfe Research cut shares of Advanced Micro Devices from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 16th. Finally, The Goldman Sachs Group downgraded Advanced Micro Devices from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $175.00 to $129.00 in a report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $171.86.
Get Our Latest Stock Report on Advanced Micro Devices
Advanced Micro Devices Price Performance
Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $6.71 billion. During the same period in the previous year, the business earned $0.53 earnings per share. The company’s quarterly revenue was up 17.6% on a year-over-year basis. As a group, equities research 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 Advanced Micro Devices 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 owns 293,347 shares in the company, valued at approximately $41,558,469.49. The trade was a 12.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lisa T. Su sold 80,000 shares of the stock in a transaction on 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 owns 3,566,762 shares of the company’s stock, valued at $513,150,048.94. The trade was a 2.19 % decrease in their ownership of the stock. 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. 0.65% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Advanced Micro Devices
A number of institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC boosted its holdings in 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 acquiring an additional 7,815,305 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Advanced Micro Devices by 42.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock worth $1,381,679,000 after purchasing an additional 2,497,056 shares during the period. Van ECK Associates Corp boosted its stake in shares of Advanced Micro Devices by 23.3% in the 4th quarter. Van ECK Associates Corp now owns 11,859,744 shares of the semiconductor manufacturer’s stock valued at $1,432,538,000 after purchasing an additional 2,238,866 shares during the last quarter. State Street Corp increased its position in shares of Advanced Micro Devices by 2.3% during the third quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after buying an additional 1,580,035 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Advanced Micro Devices by 8.7% during the third 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 worth $3,195,000,000 after buying an additional 1,565,083 shares during the last quarter. 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.
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