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

Advanced Micro Devices (NASDAQ:AMD) was downgraded by research analysts at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a report issued on Friday,Briefing.com Automated Import reports. They currently 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 target price suggests a potential upside of 5.88% from the company’s current price.

AMD has been the subject of a number of other reports. Hsbc Global Res downgraded Advanced Micro Devices from a “strong-buy” rating to a “moderate sell” rating in a research note on Wednesday. Piper Sandler restated an “overweight” rating and issued a $180.00 price objective (down previously from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Evercore ISI lifted their target price on shares of Advanced Micro Devices from $193.00 to $198.00 and gave the company an “outperform” rating 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 dropped their price target for the stock from $180.00 to $155.00 in a research note on Monday, December 9th. Finally, TD Cowen reduced their price objective on shares of Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $185.96.

Advanced Micro Devices Trading Down 4.3 %

Advanced Micro Devices stock opened at $121.84 on Friday. Advanced Micro Devices has a 52 week low of $117.90 and a 52 week high of $227.30. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50. The firm has a market capitalization of $197.72 billion, a price-to-earnings ratio of 109.77, a P/E/G ratio of 1.88 and a beta of 1.66. The company has a 50 day moving average price of $133.09 and a 200 day moving average price of $147.05.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, meeting the consensus estimate of $0.92. The company had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.71 billion. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The business’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.53 EPS. Research analysts forecast that Advanced Micro Devices will post 2.54 EPS for the current year.

Insider Activity

In other news, CEO Lisa T. Su sold 80,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at $513,150,048.94. This represents a 2.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $5,743,301.80. Following the completion of the sale, 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 quarter, insiders have sold 197,036 shares of company stock worth $28,165,821. Corporate insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Watts Gwilliam & Co. LLC lifted its holdings in Advanced Micro Devices by 151.6% in the fourth quarter. Watts Gwilliam & Co. LLC now owns 19,279 shares of the semiconductor manufacturer’s stock valued at $2,455,000 after buying an additional 11,616 shares during the period. Park National Corp OH grew its stake in shares of Advanced Micro Devices by 87.1% during the fourth quarter. Park National Corp OH now owns 2,683 shares of the semiconductor manufacturer’s stock worth $324,000 after purchasing an additional 1,249 shares during the period. Norway Savings Bank boosted its holdings in Advanced Micro Devices by 2.9% during the fourth quarter. Norway Savings Bank now owns 12,612 shares of the semiconductor manufacturer’s stock worth $1,523,000 after buying an additional 358 shares during the last quarter. Bank of New Hampshire grew its position in shares of Advanced Micro Devices by 1.5% during the 4th quarter. Bank of New Hampshire now owns 9,802 shares of the semiconductor manufacturer’s stock worth $1,184,000 after buying an additional 148 shares during the period. Finally, Canandaigua National Bank & Trust Co. raised its position in shares of Advanced Micro Devices by 72.5% in the 4th quarter. Canandaigua National Bank & Trust Co. now owns 5,712 shares of the semiconductor manufacturer’s stock valued at $690,000 after acquiring an additional 2,400 shares during the period. 71.34% of the stock is owned by institutional investors and hedge funds.

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.