Advanced Micro Devices (NASDAQ:AMD) Cut to “Hold” at Craig Hallum

Craig Hallum downgraded shares of Advanced Micro Devices (NASDAQ:AMD) from a buy rating to a hold rating in a research report sent to investors on Wednesday, Briefing.com Automated Import reports. They currently have $66.00 price objective on the semiconductor manufacturer’s stock, up from their prior price objective of $60.00.

AMD has been the subject of a number of other reports. Loop Capital raised their price target on Advanced Micro Devices from $54.00 to $60.00 and gave the company a buy rating in a report on Friday, May 1st. Cowen lifted their target price on Advanced Micro Devices from $60.00 to $65.00 and gave the company an outperform rating in a research note on Tuesday, July 14th. Nomura lifted their target price on Advanced Micro Devices from $58.00 to $64.00 and gave the company a buy rating in a research note on Wednesday, April 29th. BidaskClub cut Advanced Micro Devices from a buy rating to a hold rating in a research note on Tuesday, June 9th. Finally, Barclays lifted their target price on Advanced Micro Devices from $50.00 to $55.00 and gave the company an equal weight rating in a research note on Monday, July 20th. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and twenty have issued a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $68.97.

Shares of Advanced Micro Devices stock opened at $77.43 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.68 and a current ratio of 2.10. The firm’s 50-day simple moving average is $56.61 and its 200-day simple moving average is $51.94. Advanced Micro Devices has a twelve month low of $27.43 and a twelve month high of $78.96. The firm has a market cap of $91.81 billion, a P/E ratio of 146.10, a price-to-earnings-growth ratio of 2.05 and a beta of 2.14.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, July 28th. The semiconductor manufacturer reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.06. Advanced Micro Devices had a net margin of 7.96% and a return on equity of 28.66%. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the previous year, the business earned $0.08 EPS. The firm’s revenue was up 26.1% on a year-over-year basis. On average, equities analysts forecast that Advanced Micro Devices will post 0.83 earnings per share for the current fiscal year.

In related news, EVP Mark D. Papermaster sold 43,000 shares of Advanced Micro Devices stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $52.90, for a total value of $2,274,700.00. Following the sale, the executive vice president now owns 1,378,280 shares of the company’s stock, valued at $72,911,012. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Forrest Eugene Norrod sold 75,000 shares of Advanced Micro Devices stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $55.25, for a total value of $4,143,750.00. Following the completion of the sale, the senior vice president now directly owns 752,100 shares in the company, valued at approximately $41,553,525. The disclosure for this sale can be found here. In the last ninety days, insiders sold 461,000 shares of company stock worth $25,381,930. 1.50% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Optimum Investment Advisors lifted its position in shares of Advanced Micro Devices by 1,250.0% in the first quarter. Optimum Investment Advisors now owns 540 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 500 shares during the last quarter. Harwood Advisory Group LLC bought a new stake in Advanced Micro Devices in the 1st quarter valued at $26,000. Whittier Trust Co. lifted its holdings in Advanced Micro Devices by 58.2% during the 2nd quarter. Whittier Trust Co. now owns 503 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 185 shares during the last quarter. Prestige Wealth Management Group LLC lifted its holdings in Advanced Micro Devices by 202.5% during the 1st quarter. Prestige Wealth Management Group LLC now owns 605 shares of the semiconductor manufacturer’s stock valued at $27,000 after purchasing an additional 405 shares during the last quarter. Finally, CX Institutional lifted its holdings in Advanced Micro Devices by 102.6% during the 1st quarter. CX Institutional now owns 616 shares of the semiconductor manufacturer’s stock valued at $28,000 after purchasing an additional 312 shares during the last quarter. 69.37% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Micro Devices Company Profile

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. The company operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. Its products include x86 microprocessors as an accelerated processing unit (APU), chipsets, discrete and integrated graphics processing units (GPUs), and professional GPUs; and server and embedded processors, and semi-custom System-on-Chip (SoC) products and technology for game consoles.

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Analyst Recommendations for Advanced Micro Devices (NASDAQ:AMD)

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