Advanced Micro Devices (NASDAQ:AMD) Cut to “Hold” at Erste Group

Erste Group cut shares of Advanced Micro Devices (NASDAQ:AMD – Get Rating) from a buy rating to a hold rating in a research report sent to investors on Thursday, The Fly reports.

Several other equities analysts have also recently weighed in on the company. Sanford C. Bernstein upgraded Advanced Micro Devices from a market perform rating to an outperform rating and set a $150.00 price objective on the stock in a report on Tuesday, February 22nd. Craig Hallum lifted their price objective on Advanced Micro Devices from $150.00 to $160.00 and gave the company a buy rating in a report on Wednesday, February 2nd. Rosenblatt Securities lifted their price objective on Advanced Micro Devices from $180.00 to $200.00 and gave the company a buy rating in a report on Wednesday, February 2nd. Truist Financial cut their target price on Advanced Micro Devices from $144.00 to $111.00 and set a hold rating on the stock in a research note on Friday, April 8th. Finally, StockNews.com initiated coverage on Advanced Micro Devices in a research note on Thursday, March 31st. They issued a hold rating on the stock. Thirteen equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Buy and a consensus price target of $147.41.

AMD stock opened at $93.06 on Thursday. The company has a market cap of $111.61 billion, a P/E ratio of 36.07, a PEG ratio of 0.88 and a beta of 1.81. Advanced Micro Devices has a twelve month low of $72.50 and a twelve month high of $164.46. The business has a fifty day moving average of $112.52 and a 200-day moving average of $125.01.

Advanced Micro Devices (NASDAQ:AMD – Get Rating) last posted its earnings results on Tuesday, February 1st. The semiconductor manufacturer reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.14. Advanced Micro Devices had a return on equity of 44.25% and a net margin of 19.24%. The company had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.52 billion. During the same period in the previous year, the company earned $0.45 EPS. The company’s revenue for the quarter was up 48.8% compared to the same quarter last year. On average, analysts predict that Advanced Micro Devices will post 3.7 EPS for the current year.

In related news, CEO Lisa T. Su sold 100,000 shares of the company’s stock in a transaction on Tuesday, February 15th. The stock was sold at an average price of $120.00, for a total transaction of $12,000,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Paul Darren Grasby sold 9,852 shares of the company’s stock in a transaction on Wednesday, February 2nd. The stock was sold at an average price of $130.00, for a total value of $1,280,760.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 191,176 shares of company stock worth $23,266,902. Insiders own 1.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Financial Counselors Inc. bought a new position in shares of Advanced Micro Devices in the third quarter valued at approximately $297,000. Thoroughbred Financial Services LLC bought a new stake in Advanced Micro Devices during the third quarter worth about $228,000. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Advanced Micro Devices by 63.5% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 32,700 shares of the semiconductor manufacturer’s stock valued at $3,364,000 after acquiring an additional 12,700 shares during the last quarter. Emerald Advisers LLC purchased a new position in Advanced Micro Devices during the 3rd quarter valued at about $297,000. Finally, Destiny Wealth Partners LLC purchased a new position in shares of Advanced Micro Devices during the 3rd quarter worth approximately $190,000. 68.92% of the stock is owned by institutional investors and hedge funds.

Advanced Micro Devices Company Profile (Get Rating)

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, chipsets, discrete and integrated graphics processing units (GPUs), data center and professional GPUs, and development services; and server and embedded processors, and semi-custom System-on-Chip (SoC) products, development services, and technology for game consoles.

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