Advanced Micro Devices' (AMD) "Reduce" Rating Reiterated at HSBC

HSBC reissued their reduce rating on shares of Advanced Micro Devices (NASDAQ:AMD - Free Report) in a research report report published on Wednesday morning, MarketBeat.com reports. The firm currently has a $110.00 target price on the semiconductor manufacturer's stock, down from their prior target price of $200.00.

AMD has been the topic of a number of other reports. Citigroup cut their price objective on Advanced Micro Devices from $210.00 to $200.00 and set a "buy" rating on the stock in a report on Wednesday, October 30th. Piper Sandler reiterated an "overweight" rating and set a $180.00 price objective (down from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Bank of America lowered shares of Advanced Micro Devices from a "buy" rating to a "neutral" rating and reduced their target price for the company from $180.00 to $155.00 in a report on Monday, December 9th. TD Cowen lowered their price target on Advanced Micro Devices from $210.00 to $185.00 and set a "buy" rating for the company in a report on Wednesday, October 30th. Finally, StockNews.com upgraded Advanced Micro Devices from a "sell" rating to a "hold" rating in a research note on Monday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Advanced Micro Devices presently has a consensus rating of "Moderate Buy" and a consensus target price of $187.86.

Advanced Micro Devices Trading Down 4.3 %

Shares of NASDAQ AMD traded down $5.49 on Wednesday, reaching $121.84. 46,478,023 shares of the company traded hands, compared to its average volume of 40,794,836. The company has a 50 day moving average of $133.54 and a 200 day moving average of $147.22. 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 has a fifty-two week low of $117.90 and a fifty-two week high of $227.30. The stock has a market capitalization of $197.72 billion, a PE ratio of 109.77, a P/E/G ratio of 1.88 and a beta of 1.66.

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

Insider Buying and Selling

In other news, CEO Lisa T. Su sold 80,000 shares of the business's stock in a transaction on 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 transaction, 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 ownership of the stock. The sale was disclosed in a legal 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 dated 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 completion of the sale, the executive vice president now directly owns 293,347 shares in the company, valued at approximately $41,558,469.49. This trade represents a 12.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 197,036 shares of company stock worth $28,165,821 over the last quarter. 0.65% of the stock is owned by company insiders.

Institutional Investors Weigh In On Advanced Micro Devices

Hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its stake in Advanced Micro Devices by 1.9% during the 3rd 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 in the last quarter. Swiss National Bank raised its stake in shares of Advanced Micro Devices by 0.3% during the third quarter. Swiss National Bank now owns 4,797,575 shares of the semiconductor manufacturer's stock valued at $787,186,000 after purchasing an additional 12,500 shares in the last quarter. Shum Financial Group Inc. bought a new stake in shares of Advanced Micro Devices during the third quarter valued at about $858,000. Geode Capital Management LLC lifted its holdings 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 worth $5,597,337,000 after purchasing an additional 441,924 shares during the period. Finally, State Street Corp grew its position in Advanced Micro Devices by 2.3% in 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 in the last quarter. Institutional investors own 71.34% of the company's stock.

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.