Advanced Micro Devices (NASDAQ:AMD) Downgraded by Wedbush to “Hold”

Wedbush cut shares of Advanced Micro Devices (NASDAQ:AMD) from an equal weight rating to a hold rating in a research report sent to investors on Wednesday.

Several other equities analysts have also issued reports on the company. Wells Fargo & Co upped their target price on Advanced Micro Devices from $30.00 to $38.00 and gave the company an outperform rating in a report on Wednesday, May 1st. Bank of America upped their target price on Advanced Micro Devices from $35.00 to $40.00 and gave the company a buy rating in a report on Monday, June 10th. JPMorgan Chase & Co. upped their target price on Advanced Micro Devices from $25.00 to $33.00 and gave the company a neutral rating in a report on Wednesday. Zacks Investment Research raised Advanced Micro Devices from a sell rating to a hold rating in a report on Tuesday, April 16th. Finally, ValuEngine raised Advanced Micro Devices from a hold rating to a buy rating in a report on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and twelve have issued a buy rating to the company. Advanced Micro Devices presently has an average rating of Hold and an average price target of $31.08.

Shares of AMD stock traded down $0.42 during trading on Wednesday, hitting $29.44. The company’s stock had a trading volume of 60,209,593 shares, compared to its average volume of 55,749,428. The company has a market cap of $32.41 billion, a P/E ratio of 84.11, a PEG ratio of 2.36 and a beta of 3.06. The company has a current ratio of 2.08, a quick ratio of 1.54 and a debt-to-equity ratio of 0.54. The business’s fifty day moving average is $31.72. Advanced Micro Devices has a 52 week low of $16.03 and a 52 week high of $34.86.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. Advanced Micro Devices had a return on equity of 16.04% and a net margin of 3.25%. Advanced Micro Devices’s quarterly revenue was down 12.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.14 earnings per share. On average, sell-side analysts expect that Advanced Micro Devices will post 0.5 EPS for the current fiscal year.

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

Several hedge funds have recently modified their holdings of AMD. Joseph P. Lucia & Associates LLC purchased a new stake in shares of Advanced Micro Devices in the first quarter worth $25,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Advanced Micro Devices in the first quarter worth $26,000. Peddock Capital Advisors LLC raised its position in shares of Advanced Micro Devices by 151.5% in the first quarter. Peddock Capital Advisors LLC now owns 1,021 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 615 shares in the last quarter. Advisory Alpha LLC purchased a new stake in shares of Advanced Micro Devices in the first quarter worth $26,000. Finally, Berman Capital Advisors LLC raised its position in shares of Advanced Micro Devices by 99.4% in the first quarter. Berman Capital Advisors LLC now owns 1,077 shares of the semiconductor manufacturer’s stock worth $27,000 after buying an additional 537 shares in the last quarter. Institutional investors own 60.98% of the company’s stock.

Advanced Micro Devices Company Profile

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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Analyst Recommendations for Advanced Micro Devices (NASDAQ:AMD)

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