Advanced Micro Devices (NASDAQ:AMD) Lowered to Neutral Rating by The Goldman Sachs Group

Advanced Micro Devices (NASDAQ:AMD) was downgraded by equities research analysts at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports. They presently have a $129.00 target price on the semiconductor manufacturer’s stock, down from their prior target price of $175.00. The Goldman Sachs Group’s price objective would indicate a potential upside of 5.88% from the stock’s previous close.

AMD has been the topic of a number of other research reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $180.00 target price on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and set a $180.00 price objective (down previously from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. Hsbc Global Res lowered shares of Advanced Micro Devices from a “strong-buy” rating to a “moderate sell” rating in a report on Wednesday. HSBC reissued a “reduce” rating and issued a $110.00 price objective (down previously from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday. Finally, Mizuho decreased their target price on shares of Advanced Micro Devices from $185.00 to $180.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, six have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and an average target price of $185.96.

Advanced Micro Devices Price Performance

Advanced Micro Devices stock opened at $121.84 on Friday. The stock has a market capitalization of $197.72 billion, a PE ratio of 109.77, a price-to-earnings-growth ratio of 1.88 and a beta of 1.66. The business has a 50 day simple moving average of $133.09 and a 200-day simple moving average of $147.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78. Advanced Micro Devices has a 12 month low of $117.90 and a 12 month high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results 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 firm 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 revenue for the quarter was up 17.6% compared to the same quarter last year. Equities analysts predict that Advanced Micro Devices will post 2.54 earnings per share for the current year.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total value of $5,743,301.80. Following the sale, the executive vice president now owns 293,347 shares in the company, valued at approximately $41,558,469.49. This trade represents a 12.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Lisa T. Su sold 76,496 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $142.66, for a total value of $10,912,919.36. Following the completion of the transaction, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at $508,834,266.92. This trade represents a 2.10 % 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 over the last quarter. Insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Creative Capital Management Investments LLC raised its holdings in shares of Advanced Micro Devices by 124.6% in the 3rd 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 increased its holdings in shares of Advanced Micro Devices by 90.4% in the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 75 shares in the last quarter. Global Wealth Strategies & Associates bought a new stake in shares of Advanced Micro Devices during the 4th quarter worth $26,000. Fairway Wealth LLC acquired a new position in shares of Advanced Micro Devices in the 2nd quarter worth $27,000. Finally, Abich Financial Wealth Management LLC grew its holdings in shares of Advanced Micro Devices by 101.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 220 shares of the semiconductor manufacturer’s stock worth $36,000 after acquiring an additional 111 shares during the last quarter. 71.34% of the stock is owned by 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.