Advanced Micro Devices (NASDAQ:AMD) Downgraded by The Goldman Sachs Group to Neutral

The Goldman Sachs Group lowered shares of Advanced Micro Devices (NASDAQ:AMD) from a buy rating to a neutral rating in a report issued on Friday morning, Marketbeat reports. They currently have $129.00 target price on the semiconductor manufacturer’s stock, down from their previous target price of $175.00.

Other analysts have also issued research reports about the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $180.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. Morgan Stanley cut their price objective on Advanced Micro Devices from $169.00 to $158.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. TD Cowen lowered their target price on Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Barclays cut their price target on shares of Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Finally, Citigroup lowered their price objective on shares of Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Advanced Micro Devices currently has an average rating of “Moderate Buy” and an average target price of $185.22.

Advanced Micro Devices Price Performance

AMD stock opened at $116.04 on Friday. Advanced Micro Devices has a 52-week low of $114.45 and a 52-week high of $227.30. The business has a fifty day moving average of $132.58 and a two-hundred day moving average of $146.74. The stock has a market cap of $188.31 billion, a price-to-earnings ratio of 104.54, 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 (NASDAQ:AMD) last posted its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter in the prior year, the company posted $0.53 earnings per share. Advanced Micro Devices’s revenue for the quarter was up 17.6% compared to the same quarter last year. As a group, research analysts anticipate that Advanced Micro Devices will post 2.54 earnings per share for the current year.

Insider Transactions at Advanced Micro Devices

In other news, CEO Lisa T. Su sold 76,496 shares of Advanced Micro Devices stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total value of $10,912,919.36. Following the transaction, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at $508,834,266.92. The trade was a 2.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction on Tuesday, November 5th. The stock was 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 approximately $41,558,469.49. This represents a 12.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 197,036 shares of company stock worth $28,165,821. Corporate insiders own 0.65% of the company’s stock.

Institutional Trading of Advanced Micro Devices

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMD. Charles Schwab Investment Management Inc. increased its holdings in shares of Advanced Micro Devices by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 9,656,965 shares of the semiconductor manufacturer’s stock valued at $1,584,515,000 after purchasing an additional 177,700 shares during the period. Swiss National Bank increased its stake in Advanced Micro Devices by 0.3% in the 3rd quarter. Swiss National Bank now owns 4,797,575 shares of the semiconductor manufacturer’s stock valued at $787,186,000 after buying an additional 12,500 shares during the period. Shum Financial Group Inc. purchased a new position in Advanced Micro Devices during the 3rd quarter worth $858,000. State Street Corp lifted its stake in shares of Advanced Micro Devices by 2.3% in the 3rd quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after acquiring an additional 1,580,035 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Advanced Micro Devices by 1.3% in the third quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock valued at $5,597,337,000 after acquiring an additional 441,924 shares in the last quarter. 71.34% of the stock is owned by hedge funds and other 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.