Wolfe Research Downgrades Advanced Micro Devices (NASDAQ:AMD) to Peer Perform

Wolfe Research lowered shares of Advanced Micro Devices (NASDAQ:AMD) from an outperform rating to a peer perform rating in a research report released on Thursday, Marketbeat.com reports.

AMD has been the topic of a number of other research reports. Benchmark reaffirmed a “buy” rating and set a $200.00 price target on shares of Advanced Micro Devices in a research report on Thursday, October 31st. Citigroup dropped their price objective on Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. The Goldman Sachs Group downgraded shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $175.00 to $129.00 in a report on Friday, January 10th. Piper Sandler reaffirmed an “overweight” rating and set a $180.00 target price (down previously from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Finally, HSBC reiterated a “reduce” rating and issued a $110.00 price objective (down previously from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $178.61.

Advanced Micro Devices Price Performance

Shares of AMD opened at $121.46 on Thursday. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. The business’s fifty day moving average is $129.94 and its 200 day moving average is $145.32. Advanced Micro Devices has a 12-month low of $114.41 and a 12-month high of $227.30. The stock has a market cap of $197.11 billion, a P/E ratio of 109.42, a P/E/G ratio of 1.03 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, meeting the consensus estimate of $0.92. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The company had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter in the prior year, the company posted $0.53 earnings per share. The firm’s revenue for the quarter was up 17.6% on a year-over-year basis. Sell-side 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, 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 value of $11,509,600.00. Following the transaction, the chief executive officer now owns 3,566,762 shares in the company, valued at $513,150,048.94. This represents a 2.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the business’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 sale, the executive vice president now owns 293,347 shares of the company’s stock, valued at $41,558,469.49. This trade represents a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 197,036 shares of company stock valued at $28,165,821 over the last ninety days. Insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

Institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp increased its position in Advanced Micro Devices by 2.3% in the third quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after purchasing an additional 1,580,035 shares during the last quarter. Geode Capital Management LLC boosted its stake in Advanced Micro Devices by 1.3% during the third quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock worth $5,597,337,000 after buying an additional 441,924 shares during the period. Fisher Asset Management LLC raised its stake in shares of Advanced Micro Devices by 2.8% in the third quarter. Fisher Asset Management LLC now owns 23,795,236 shares of the semiconductor manufacturer’s stock valued at $3,904,323,000 after acquiring an additional 644,039 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Advanced Micro Devices by 8.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,472,211 shares of the semiconductor manufacturer’s stock worth $3,195,000,000 after purchasing an additional 1,565,083 shares during the period. Finally, Legal & General Group Plc boosted its position in shares of Advanced Micro Devices by 1.4% during the second quarter. Legal & General Group Plc now owns 13,310,158 shares of the semiconductor manufacturer’s stock valued at $2,159,039,000 after buying an additional 188,580 shares during the period. 71.34% of the stock is owned by institutional investors.

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.