HSBC Reaffirms “Reduce” Rating for Advanced Micro Devices (NASDAQ:AMD)

HSBC restated their reduce rating on shares of Advanced Micro Devices (NASDAQ:AMD) in a report published on Wednesday, Marketbeat reports. HSBC currently has a $110.00 price target on the semiconductor manufacturer’s stock, down from their previous price target of $200.00.

Several other research analysts also recently commented on the stock. UBS Group reduced their price objective on shares of Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price target on shares of Advanced Micro Devices in a report on Monday, October 28th. TD Cowen decreased their price objective on Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Evercore ISI increased their price objective on Advanced Micro Devices from $193.00 to $198.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Bank of America lowered Advanced Micro Devices from a “buy” rating to a “neutral” rating and reduced their target price for the company from $180.00 to $155.00 in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and a consensus target price of $187.85.

Advanced Micro Devices Stock Performance

NASDAQ:AMD opened at $121.84 on Wednesday. Advanced Micro Devices has a 1 year low of $117.90 and a 1 year high of $227.30. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78. The business has a fifty day simple moving average of $133.54 and a two-hundred day simple moving average of $147.22. The company has a market capitalization of $197.72 billion, a P/E ratio of 109.77, a P/E/G ratio of 1.88 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.92. The business had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.71 billion. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.53 EPS. On average, analysts expect that Advanced Micro Devices will post 2.54 earnings per share for the current year.

Insider Activity

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’s 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 completion of the transaction, the executive vice president now owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. This trade represents a 12.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Lisa T. Su sold 80,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the completion of the sale, the chief executive officer now directly owns 3,566,762 shares in the company, valued at $513,150,048.94. This represents a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 197,036 shares of company stock valued at $28,165,821. Corporate insiders own 0.65% of the company’s stock.

Institutional Trading of Advanced Micro Devices

A number of hedge funds have recently made changes to their positions in AMD. Creative Capital Management Investments LLC grew its stake in shares of Advanced Micro Devices by 124.6% in the third quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 86 shares during the last quarter. ZRC Wealth Management LLC increased its stake in Advanced Micro Devices by 90.4% during the 3rd quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 75 shares in the last quarter. Global Wealth Strategies & Associates purchased a new position in Advanced Micro Devices in the fourth quarter worth about $26,000. Fairway Wealth LLC bought a new position in shares of Advanced Micro Devices in the second quarter worth approximately $27,000. Finally, Abich Financial Wealth Management LLC grew its holdings in shares of Advanced Micro Devices by 101.8% during the second quarter. Abich Financial Wealth Management LLC now owns 220 shares of the semiconductor manufacturer’s stock valued at $36,000 after buying an additional 111 shares during the last quarter. 71.34% of the stock is owned by institutional investors.

Advanced Micro Devices Company Profile

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.