Advanced Micro Devices (NASDAQ:AMD) Lowered to Hold at ValuEngine

ValuEngine lowered shares of Advanced Micro Devices (NASDAQ:AMD) from a buy rating to a hold rating in a research report released on Thursday morning, ValuEngine reports.

Several other research firms also recently commented on AMD. Zacks Investment Research raised shares of Advanced Micro Devices from a sell rating to a hold rating in a research note on Tuesday, April 16th. Craig Hallum downgraded shares of Advanced Micro Devices from a buy rating to a hold rating and set a $33.00 price target on the stock. in a research note on Wednesday. Barclays raised their price target on shares of Advanced Micro Devices from $26.00 to $28.00 and gave the stock an equal weight rating in a research note on Wednesday, May 1st. MKM Partners raised their price target on shares of Advanced Micro Devices to $28.00 and gave the stock a neutral rating in a research note on Wednesday, May 1st. Finally, Wedbush downgraded shares of Advanced Micro Devices from an equal weight rating to a hold rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and twelve have issued a buy rating to the stock. Advanced Micro Devices has a consensus rating of Hold and a consensus target price of $31.08.

Shares of NASDAQ AMD traded down $0.42 during midday trading on Thursday, reaching $29.44. The stock had a trading volume of 58,758,380 shares, compared to its average volume of 73,912,742. The business’s 50-day simple moving average is $31.72. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.08 and a quick ratio of 1.54. The company has a market cap of $36.63 billion, a P/E ratio of 84.11, a price-to-earnings-growth ratio of 2.72 and a beta of 3.08. Advanced Micro Devices has a 12-month low of $16.03 and a 12-month high of $34.86.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $0.08 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.08. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. Advanced Micro Devices had a net margin of 4.46% and a return on equity of 25.23%. Advanced Micro Devices’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.14 earnings per share. Sell-side analysts predict that Advanced Micro Devices will post 0.54 earnings per share for the current fiscal year.

In related news, CFO Devinder Kumar sold 127,735 shares of Advanced Micro Devices stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $32.05, for a total value of $4,093,906.75. Following the completion of the sale, the chief financial officer now directly owns 709,990 shares in the company, valued at approximately $22,755,179.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Forrest Eugene Norrod sold 50,000 shares of Advanced Micro Devices stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $34.12, for a total transaction of $1,706,000.00. Following the completion of the sale, the senior vice president now owns 809,171 shares of the company’s stock, valued at $27,608,914.52. The disclosure for this sale can be found here. Insiders sold a total of 1,045,137 shares of company stock valued at $31,793,994 over the last quarter. 1.50% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. G&S Capital LLC acquired a new stake in Advanced Micro Devices during the 1st quarter valued at approximately $78,000. Oregon Public Employees Retirement Fund lifted its stake in Advanced Micro Devices by 30.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 259,473 shares of the semiconductor manufacturer’s stock valued at $7,880,000 after acquiring an additional 60,448 shares during the period. Perkins Capital Management Inc. lifted its stake in Advanced Micro Devices by 7.0% during the 1st quarter. Perkins Capital Management Inc. now owns 15,250 shares of the semiconductor manufacturer’s stock valued at $389,000 after acquiring an additional 1,000 shares during the period. Nepsis Inc. acquired a new stake in Advanced Micro Devices during the 1st quarter valued at approximately $7,182,000. Finally, Altman Advisors Inc. lifted its stake in Advanced Micro Devices by 112.7% during the 2nd quarter. Altman Advisors Inc. now owns 48,821 shares of the semiconductor manufacturer’s stock valued at $1,483,000 after acquiring an additional 25,863 shares during the period. Institutional investors own 60.98% of the company’s stock.

About Advanced Micro Devices

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. The company operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. Its products include x86 microprocessors as an accelerated processing unit (APU), chipsets, discrete and integrated graphics processing units (GPUs), and professional GPUs; and server and embedded processors, and semi-custom System-on-Chip (SoC) products and technology for game consoles.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Advanced Micro Devices (NASDAQ:AMD)

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