Zacks Investment Research cut shares of Advanced Micro Devices (NASDAQ:AMD) from a buy rating to a hold rating in a report released on Monday morning.

According to Zacks, “AMD is benefiting from strong graphics processor unit (GPU) sales. AMD provided an encouraging first-quarter revenue guidance, primarily driven by robust performance of the company’s product portfolio comprising Ryzen CPU, EPYC and Radeon Vega GPUs. AMD’s release of Vega-based GPUs and increasing demand for its Polaris products in both gaming and blockchain industries were positives. Moreover, strong adoption of EPYC server processors is a growth driver. Additionally, better performance of the recently launched Radeon RX Vega family of GPUs aimed at gaming enthusiasts is anticipated to be beneficial for the company. Further, the company’s collaborations with Baidu, Amazon, Tencent, Microsoft and JD.com are other positive. Notably, AMD has outperformed the industry it belongs to in the last three months. However, stiff competition from the likes of NVIDIA remains a concern.”

Several other equities analysts have also commented on AMD. BNP Paribas raised shares of Advanced Micro Devices from a neutral rating to an outperform rating in a report on Thursday, October 12th. BMO Capital Markets reaffirmed a hold rating and set a $15.00 target price on shares of Advanced Micro Devices in a report on Wednesday, October 18th. Jefferies Group reaffirmed a buy rating and set a $19.00 target price on shares of Advanced Micro Devices in a report on Wednesday, October 25th. Loop Capital reaffirmed a hold rating and set a $13.00 target price (down previously from $14.00) on shares of Advanced Micro Devices in a report on Wednesday, October 25th. Finally, Credit Suisse Group increased their target price on shares of Advanced Micro Devices from $10.50 to $12.00 and gave the company a neutral rating in a report on Wednesday, October 25th. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $14.87.

Shares of Advanced Micro Devices (NASDAQ:AMD) opened at $11.60 on Monday. The company has a current ratio of 1.76, a quick ratio of 1.27 and a debt-to-equity ratio of 2.17. The firm has a market cap of $11,190.00, a price-to-earnings ratio of 386.67, a PEG ratio of 4.97 and a beta of 2.70. Advanced Micro Devices has a 52-week low of $9.70 and a 52-week high of $15.65.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, January 30th. The semiconductor manufacturer reported $0.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.04. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Advanced Micro Devices had a net margin of 0.81% and a return on equity of 16.76%. The business’s quarterly revenue was up 33.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.01) EPS. sell-side analysts expect that Advanced Micro Devices will post 0.3 earnings per share for the current year.

In other news, SVP Mark D. Papermaster sold 20,000 shares of Advanced Micro Devices stock in a transaction dated Friday, December 28th. The shares were sold at an average price of $10.51, for a total transaction of $210,200.00. Following the sale, the senior vice president now owns 945,189 shares of the company’s stock, valued at approximately $9,933,936.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Darla M. Smith sold 18,001 shares of Advanced Micro Devices stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $11.37, for a total transaction of $204,671.37. Following the sale, the chief accounting officer now directly owns 19,078 shares in the company, valued at approximately $216,916.86. The disclosure for this sale can be found here. In the last three months, insiders sold 1,294,119 shares of company stock worth $14,482,964. Insiders own 1.60% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in AMD. GSA Capital Partners LLP bought a new stake in shares of Advanced Micro Devices during the 2nd quarter valued at about $168,000. Nordea Investment Management AB boosted its stake in shares of Advanced Micro Devices by 4.6% during the 2nd quarter. Nordea Investment Management AB now owns 32,480 shares of the semiconductor manufacturer’s stock valued at $405,000 after purchasing an additional 1,438 shares in the last quarter. Voya Investment Management LLC boosted its stake in shares of Advanced Micro Devices by 2.5% during the 2nd quarter. Voya Investment Management LLC now owns 522,930 shares of the semiconductor manufacturer’s stock valued at $6,526,000 after purchasing an additional 12,526 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of Advanced Micro Devices by 4.7% during the 2nd quarter. HighTower Advisors LLC now owns 41,126 shares of the semiconductor manufacturer’s stock valued at $512,000 after purchasing an additional 1,856 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new stake in shares of Advanced Micro Devices during the 2nd quarter valued at about $1,048,000. 60.99% of the stock is currently owned by hedge funds and other institutional investors.

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Advanced Micro Devices Company Profile

Advanced Micro Devices, Inc is a global semiconductor company. The Company is engaged in offering x86 microprocessors, as standalone devices or as incorporated into an accelerated processing unit (APU), chipsets, discrete graphics processing units (GPUs) and professional graphics, and server and embedded processors and semi-custom System-on-Chip (SoC) products and technology for game consoles.

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