Melius Research Reiterates “Hold” Rating for Advanced Micro Devices (NASDAQ:AMD)

Advanced Micro Devices (NASDAQ:AMD)‘s stock had its “hold” rating reissued by analysts at Melius Research in a research note issued on Tuesday,Benzinga reports. They currently have a $129.00 price target on the semiconductor manufacturer’s stock, down from their previous price target of $160.00. Melius Research’s price objective indicates a potential upside of 12.31% from the company’s previous close.

Several other brokerages have also recently issued reports on AMD. Evercore ISI boosted their price target on Advanced Micro Devices from $193.00 to $198.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group lowered Advanced Micro Devices from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $175.00 to $129.00 in a report on Friday, January 10th. KeyCorp lowered their price objective on Advanced Micro Devices from $220.00 to $150.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. Morgan Stanley decreased their price target on Advanced Micro Devices from $169.00 to $158.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Finally, Citigroup reduced their target price on Advanced Micro Devices from $200.00 to $175.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $173.07.

Advanced Micro Devices Stock Down 0.1 %

Advanced Micro Devices stock traded down $0.15 during midday trading on Tuesday, reaching $114.86. The company’s stock had a trading volume of 22,626,927 shares, compared to its average volume of 38,239,895. Advanced Micro Devices has a fifty-two week low of $112.80 and a fifty-two week high of $227.30. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. The company has a market cap of $186.39 billion, a P/E ratio of 103.46, a P/E/G ratio of 1.09 and a beta of 1.66. The business has a 50-day simple moving average of $127.65 and a 200-day simple moving average of $142.74.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, hitting 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 business 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. The business’s revenue was up 17.6% compared to the same quarter last year. On average, research analysts expect that Advanced Micro Devices will post 2.54 earnings per share for the current fiscal year.

Insider Activity at Advanced Micro Devices

In related news, CEO Lisa T. Su sold 80,000 shares of Advanced Micro Devices 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 approximately $513,150,048.94. The trade was a 2.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction, the executive vice president now directly owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. This represents a 12.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 197,036 shares of company stock valued at $28,165,821. Insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its stake in 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 acquiring an additional 177,700 shares during the period. Swiss National Bank increased its stake 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 valued at $787,186,000 after acquiring an additional 12,500 shares during the period. Shum Financial Group Inc. bought a new stake in Advanced Micro Devices in the third quarter valued at about $858,000. State Street Corp increased 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 acquiring an additional 1,580,035 shares during the period. 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. Institutional investors and hedge funds 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.