Advanced Micro Devices’ (AMD) Reduce Rating Reaffirmed at HSBC

Advanced Micro Devices (NASDAQ:AMD)‘s stock had its “reduce” rating reiterated by equities researchers at HSBC in a research note issued on Wednesday, MarketBeat reports. They currently have a $110.00 price target on the semiconductor manufacturer’s stock, down from their prior price target of $200.00. HSBC’s target price points to a potential downside of 9.72% from the stock’s current price.

AMD has been the topic of a number of other reports. Cantor Fitzgerald restated an “overweight” rating and issued a $180.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. Piper Sandler reissued an “overweight” rating and issued a $180.00 target price (down from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, October 30th. StockNews.com raised Advanced Micro Devices from a “sell” rating to a “hold” rating in a report on Monday. UBS Group reduced their price objective on Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Finally, Morgan Stanley lowered their target price on Advanced Micro Devices from $169.00 to $158.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and a consensus target price of $187.85.

Advanced Micro Devices Stock Performance

NASDAQ:AMD opened at $121.84 on Wednesday. The firm has a market capitalization of $197.72 billion, a PE ratio of 109.77, a price-to-earnings-growth ratio of 1.88 and a beta of 1.66. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. Advanced Micro Devices has a 12-month low of $117.90 and a 12-month high of $227.30. The firm 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 quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.92. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The firm had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same period in the prior year, the company posted $0.53 earnings per share. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. Research analysts anticipate that Advanced Micro Devices will post 2.54 earnings per share for the current fiscal year.

Insider Activity at Advanced Micro Devices

In other news, EVP Forrest Eugene Norrod sold 40,540 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 293,347 shares in the company, valued at $41,558,469.49. The trade was a 12.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Lisa T. Su sold 80,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 3,566,762 shares in the company, valued at approximately $513,150,048.94. The trade was a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 197,036 shares of company stock valued at $28,165,821. Corporate insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

A number of institutional investors have recently bought and sold shares of the business. Christopher J. Hasenberg Inc increased its holdings in shares of Advanced Micro Devices by 12.0% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 560 shares of the semiconductor manufacturer’s stock worth $97,000 after acquiring an additional 60 shares during the last quarter. Wealth Effects LLC increased its holdings in shares of Advanced Micro Devices by 0.7% in the third quarter. Wealth Effects LLC now owns 9,419 shares of the semiconductor manufacturer’s stock valued at $1,545,000 after purchasing an additional 65 shares during the last quarter. Jacobsen Capital Management raised its position in shares of Advanced Micro Devices by 2.1% in the third quarter. Jacobsen Capital Management now owns 3,378 shares of the semiconductor manufacturer’s stock valued at $554,000 after purchasing an additional 70 shares during the period. Sigma Investment Counselors Inc. lifted its stake in shares of Advanced Micro Devices by 5.3% during the 3rd quarter. Sigma Investment Counselors Inc. now owns 1,482 shares of the semiconductor manufacturer’s stock worth $243,000 after buying an additional 74 shares during the last quarter. Finally, Bedell Frazier Investment Counselling LLC boosted its holdings in shares of Advanced Micro Devices by 4.3% during the 3rd quarter. Bedell Frazier Investment Counselling LLC now owns 1,780 shares of the semiconductor manufacturer’s stock worth $292,000 after buying an additional 74 shares during the period. Institutional investors and hedge funds own 71.34% of the company’s stock.

About Advanced Micro Devices

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.