Advanced Micro Devices (NASDAQ:AMD) Stock Rating Lowered by Wall Street Zen

Advanced Micro Devices (NASDAQ:AMDGet Free Report) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Sunday.

A number of other research analysts have also recently issued reports on the company. Northland Securities reaffirmed a “market perform” rating and issued a $260.00 price target on shares of Advanced Micro Devices in a report on Monday, April 27th. Wells Fargo & Company increased their price objective on shares of Advanced Micro Devices from $505.00 to $615.00 and gave the stock an “overweight” rating in a report on Tuesday, June 30th. Roth Capital restated a “buy” rating and issued a $500.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, May 6th. Susquehanna boosted their target price on shares of Advanced Micro Devices from $375.00 to $450.00 and gave the stock a “positive” rating in a research note on Wednesday, May 6th. Finally, Benchmark upped their target price on shares of Advanced Micro Devices from $325.00 to $485.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $458.92.

Read Our Latest Report on Advanced Micro Devices

Advanced Micro Devices Price Performance

NASDAQ AMD traded up $11.17 during trading hours on Friday, reaching $557.89. 20,634,405 shares of the company’s stock were exchanged, compared to its average volume of 27,759,392. The firm has a fifty day moving average of $491.60 and a 200-day moving average of $318.92. Advanced Micro Devices has a one year low of $141.60 and a one year high of $584.73. The stock has a market cap of $909.70 billion, a PE ratio of 182.92, a price-to-earnings-growth ratio of 1.64 and a beta of 2.47. The company has a current ratio of 2.72, a quick ratio of 1.96 and a debt-to-equity ratio of 0.04.

Advanced Micro Devices (NASDAQ:AMDGet Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.08. The firm had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $9.90 billion. Advanced Micro Devices had a return on equity of 9.55% and a net margin of 13.37%.The business’s revenue for the quarter was up 37.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.96 EPS. On average, equities research analysts predict that Advanced Micro Devices will post 6.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Forrest Eugene Norrod sold 19,487 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $431.40, for a total value of $8,406,691.80. Following the transaction, the executive vice president owned 324,527 shares of the company’s stock, valued at approximately $140,000,947.80. This trade represents a 5.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark D. Papermaster sold 31,320 shares of Advanced Micro Devices stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $350.00, for a total transaction of $10,962,000.00. Following the sale, the executive vice president owned 1,236,037 shares of the company’s stock, valued at approximately $432,612,950. This represents a 2.47% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 374,739 shares of company stock worth $161,135,671. 0.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Joseph Group Capital Management bought a new stake in Advanced Micro Devices in the fourth quarter valued at about $25,000. Cornerstone Financial Management LLC bought a new position in Advanced Micro Devices during the fourth quarter worth about $27,000. Sarver Vrooman Wealth Advisors bought a new position in Advanced Micro Devices during the fourth quarter worth about $27,000. Basepoint Wealth LLC acquired a new position in shares of Advanced Micro Devices during the 4th quarter worth about $30,000. Finally, Graney & King LLC bought a new stake in shares of Advanced Micro Devices in the 1st quarter valued at about $31,000. 71.34% of the stock is currently owned by institutional investors.

Key Advanced Micro Devices News

Here are the key news stories impacting Advanced Micro Devices this week:

About Advanced Micro Devices

(Get Free Report)

Advanced Micro Devices, Inc (NASDAQ: AMD) is a global semiconductor company that designs and sells microprocessors, graphics processors, chipsets and adaptive computing solutions for a broad set of markets. The company’s product portfolio includes consumer and commercial CPUs under the Ryzen and Threadripper brands, data center processors under the EPYC brand, and Radeon graphics processing units for gaming and professional visualization. AMD also offers semi-custom system-on-chip (SoC) products for gaming consoles and other specialized applications, and provides supporting software and platform technologies for OEMs, cloud service providers and end users.

Founded in 1969, AMD has evolved from a supplier of logic chips into a diversified, fabless semiconductor designer.

Further Reading

Analyst Recommendations for Advanced Micro Devices (NASDAQ:AMD)

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