Advanced Micro Devices (NASDAQ:AMD) Lowered to "Hold" Rating by Melius

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) was downgraded by equities research analysts at Melius from a "buy" rating to a "hold" rating in a research note issued to investors on Tuesday, Marketbeat.com 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' price objective would suggest a potential upside of 9.93% from the stock's current price.

Several other brokerages have also issued reports on AMD. KeyCorp reduced their price target on shares of Advanced Micro Devices from $220.00 to $150.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 14th. StockNews.com lowered shares of Advanced Micro Devices from a "hold" rating to a "sell" rating in a report on Tuesday, January 14th. Hsbc Global Res downgraded shares of Advanced Micro Devices from a "strong-buy" rating to a "moderate sell" rating in a research note on Wednesday, January 8th. The Goldman Sachs Group lowered shares of Advanced Micro Devices from a "buy" rating to a "neutral" rating and cut their price target for the company from $175.00 to $129.00 in a research report on Friday, January 10th. Finally, UBS Group lowered their target price on Advanced Micro Devices from $210.00 to $205.00 and set a "buy" rating for the company in a research note on Wednesday, October 30th. Two research 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 given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $171.86.

Advanced Micro Devices Price Performance

Shares of AMD traded up $3.18 during midday trading on Tuesday, hitting $117.35. 39,165,720 shares of the company traded hands, compared to its average volume of 39,320,879. Advanced Micro Devices has a one year low of $112.80 and a one year high of $227.30. The firm has a market cap of $190.44 billion, a P/E ratio of 105.72, a PEG ratio of 1.09 and a beta of 1.66. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78. The stock has a 50-day moving average of $127.14 and a 200-day moving average of $142.27.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, hitting the consensus estimate of $0.92. The firm had revenue of $6.82 billion for the quarter, compared to analysts' expectations of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The business's quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 earnings per share. As a group, sell-side analysts predict that Advanced Micro Devices will post 2.54 EPS for the current fiscal year.

Insider Activity

In related news, CEO Lisa T. Su sold 80,000 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now directly 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction 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 completion of 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 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 ninety days. Insiders own 0.65% of the company's stock.

Hedge Funds Weigh In On Advanced Micro Devices

A number of hedge funds have recently modified their holdings of the business. Creative Capital Management Investments LLC boosted 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 valued at $25,000 after purchasing an additional 86 shares in the last quarter. ZRC Wealth Management LLC grew its position in 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 purchasing an additional 75 shares during the last quarter. Global Wealth Strategies & Associates acquired a new position in Advanced Micro Devices in the fourth quarter valued at $26,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Advanced Micro Devices in the fourth quarter valued at about $32,000. Finally, Compass Financial Services Inc acquired a new stake in shares of Advanced Micro Devices during the fourth quarter worth about $39,000. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

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.