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 research note issued to investors on Tuesday, Marketbeat.com reports. Melius currently has $129.00 price objective on the semiconductor manufacturer’s stock, down from their prior price objective of $160.00.

AMD has been the topic of several other reports. StockNews.com cut Advanced Micro Devices from a “hold” rating to a “sell” rating in a report on Tuesday, January 14th. Barclays reduced their price objective on shares of Advanced Micro Devices from $170.00 to $140.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Bank of America downgraded shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $180.00 to $155.00 in a research note on Monday, December 9th. Morgan Stanley cut their price target on shares of Advanced Micro Devices from $169.00 to $158.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price objective on shares of Advanced Micro Devices in a research report on Monday, October 28th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $171.04.

Advanced Micro Devices Price Performance

AMD stock opened at $118.86 on Tuesday. The company has a market capitalization of $192.89 billion, a P/E ratio of 107.08, a PEG ratio of 1.09 and a beta of 1.66. The company has a fifty day moving average price of $126.74 and a 200-day moving average price of $142.09. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50. Advanced Micro Devices has a 52-week low of $112.80 and a 52-week high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (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 business had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same period last year, the company earned $0.53 EPS. Advanced Micro Devices’s revenue for the quarter was up 17.6% compared to the same quarter last year. As a group, equities analysts expect that Advanced Micro Devices will post 2.54 EPS for the current year.

Insider Transactions at Advanced Micro Devices

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of the business’s stock in a transaction dated 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 in the company, 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 Securities & Exchange Commission, which can be accessed through this link. Also, CEO Lisa T. Su sold 80,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total transaction 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 approximately $513,150,048.94. This trade represents a 2.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 197,036 shares of company stock valued at $28,165,821 over the last ninety days. 0.73% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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