Advanced Micro Devices (NASDAQ:AMD) Downgraded to Neutral Rating 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 research note issued to investors on Monday,Briefing.com Automated Import reports. They presently have a $155.00 price objective on the semiconductor manufacturer’s stock, down from their previous price objective of $180.00. Bank of America‘s target price suggests a potential upside of 11.84% from the stock’s current price.

Several other equities analysts also recently commented on AMD. Roth Mkm reiterated a “buy” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a research note on Friday, October 11th. Barclays cut their price target on Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price objective on shares of Advanced Micro Devices in a report on Monday, October 28th. Piper Sandler reiterated an “overweight” rating and issued a $180.00 target price (down previously from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Finally, Benchmark reissued a “buy” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $192.36.

Advanced Micro Devices Stock Performance

Shares of AMD stock opened at $138.59 on Monday. Advanced Micro Devices has a 12 month low of $119.56 and a 12 month high of $227.30. The firm has a market capitalization of $224.91 billion, a PE ratio of 124.86, a price-to-earnings-growth ratio of 1.91 and a beta of 1.66. The firm has a fifty day simple moving average of $150.14 and a two-hundred day simple moving average of $153.22. 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 (NASDAQ:AMD) last announced its earnings results 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 for the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter in the previous year, the firm earned $0.53 earnings per share. Advanced Micro Devices’s quarterly revenue was up 17.6% on a year-over-year basis. Analysts forecast that Advanced Micro Devices will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, 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 completion of the sale, the chief executive officer now directly 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction that occurred 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. This represents a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 197,036 shares of company stock valued at $28,165,821 in the last quarter. 0.65% of the stock is owned by insiders.

Institutional Investors Weigh In On Advanced Micro Devices

A number of hedge funds have recently made changes to their positions in AMD. Creative Capital Management Investments LLC raised its holdings in Advanced Micro Devices by 124.6% in the third quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 86 shares in the last quarter. ZRC Wealth Management LLC raised its stake in shares of Advanced Micro Devices by 90.4% during the 3rd quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 75 shares in the last quarter. Morton Brown Family Wealth LLC raised its stake in shares of Advanced Micro Devices by 94.4% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock worth $27,000 after acquiring an additional 85 shares in the last quarter. Fairway Wealth LLC purchased a new stake in Advanced Micro Devices during the second quarter valued at approximately $27,000. Finally, Ridgewood Investments LLC acquired a new stake in Advanced Micro Devices in the second quarter valued at approximately $35,000. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

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.