Advanced Micro Devices (NASDAQ:AMD) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Advanced Micro Devices (NASDAQ:AMD) from a buy rating to a hold rating in a report released on Saturday morning.

Several other equities research analysts have also recently weighed in on AMD. Barclays cut Advanced Micro Devices from an “overweight” rating to an “underweight” rating in a research note on Friday, June 12th. Citigroup upgraded shares of Advanced Micro Devices from a “market perform” rating to a “buy” rating in a research note on Wednesday, July 22nd. Rosenblatt Securities raised their price objective on shares of Advanced Micro Devices from $665.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. KeyCorp set a $650.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, August 5th. Finally, Argus upped their target price on shares of Advanced Micro Devices from $450.00 to $625.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $546.87.

Advanced Micro Devices Stock Performance

Shares of AMD stock opened at $506.00 on Friday. The company has a market cap of $826.03 billion, a P/E ratio of 130.08 and a beta of 2.48. The firm has a fifty day moving average price of $512.08 and a 200 day moving average price of $370.08. The company has a current ratio of 2.61, a quick ratio of 1.91 and a debt-to-equity ratio of 0.03. Advanced Micro Devices has a 12 month low of $149.22 and a 12 month high of $584.73.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, August 4th. The semiconductor manufacturer reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.04. The company had revenue of $11.54 billion during the quarter, compared to the consensus estimate of $11.31 billion. Advanced Micro Devices had a return on equity of 12.30% and a net margin of 15.58%.Advanced Micro Devices’s revenue for the quarter was up 50.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.48 EPS. Sell-side analysts predict that Advanced Micro Devices will post 6.44 earnings per share for the current fiscal year.

Insider Activity at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 6,000 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $536.33, for a total value of $3,217,980.00. Following the completion of the sale, the executive vice president directly owned 1,233,687 shares of the company’s stock, valued at approximately $661,663,348.71. This represents a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lisa T. Su sold 125,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $460.69, for a total transaction of $57,586,250.00. Following the transaction, the chief executive officer owned 2,896,899 shares in the company, valued at approximately $1,334,572,400.31. This trade represents a 4.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 161,077 shares of company stock valued at $74,732,145 over the last 90 days. 0.50% of the stock is owned by insiders.

Institutional Trading of Advanced Micro Devices

Institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Advanced Micro Devices in the fourth quarter valued at about $4,929,312,000. Bank of America Corp DE purchased a new position in shares of Advanced Micro Devices during the second quarter worth about $7,022,226,000. Jennison Associates LLC grew its holdings in shares of Advanced Micro Devices by 181.6% during the fourth quarter. Jennison Associates LLC now owns 10,910,310 shares of the semiconductor manufacturer’s stock worth $2,336,552,000 after buying an additional 7,035,991 shares during the last quarter. Cardano Risk Management B.V. acquired a new position in Advanced Micro Devices in the 4th quarter valued at about $1,000,783,000. Finally, BlackRock Inc. raised its stake in Advanced Micro Devices by 3.1% during the 2nd quarter. BlackRock Inc. now owns 150,301,510 shares of the semiconductor manufacturer’s stock valued at $87,311,650,000 after acquiring an additional 4,535,126 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices News Summary

Here are the key news stories impacting Advanced Micro Devices this week:

• Positive Sentiment: AMD priced a record $4.75 billion senior-notes offering in four tranches maturing from 2029 through 2036. Management plans to use the capital for general corporate purposes, including expanding its AI and data-center businesses. The offering gives AMD additional financial flexibility without issuing shares, although it will increase interest expense. AMD Rises on $4.75 Billion Debt Offering
• Positive Sentiment: Analysts continue to see upside based on accelerating demand for AMD’s AI data-center processors, record data-center revenue, and potential growth in server CPUs. Reported analyst price targets reach as high as $700, supporting the bullish case despite the stock’s large year-to-date advance. AMD Stock Is Up 136% YTD. Why Wall Street Still Sees More Upside
• Positive Sentiment: A quarterly SEC filing disclosed sizable equity stakes in SpaceX and Nutanix. The investments broaden AMD’s strategic exposure to space technology and enterprise infrastructure, though the filing did not establish a direct near-term revenue impact. AMD Filing Reveals Unexpected SpaceX and Nutanix Bet

About Advanced Micro Devices

Advanced Micro Devices, Inc (NASDAQ: AMD) is a global semiconductor company that designs and sells microprocessors, graphics processors, chipsets and adaptive computing solutions for a broad set of markets. The company’s product portfolio includes consumer and commercial CPUs under the Ryzen and Threadripper brands, data center processors under the EPYC brand, and Radeon graphics processing units for gaming and professional visualization. AMD also offers semi-custom system-on-chip (SoC) products for gaming consoles and other specialized applications, and provides supporting software and platform technologies for OEMs, cloud service providers and end users.

Founded in 1969, AMD has evolved from a supplier of logic chips into a diversified, fabless semiconductor designer.