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

Advanced Micro Devices (NASDAQ:AMD) was downgraded by stock analysts at Citigroup from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

A number of other brokerages also recently commented on AMD. The Goldman Sachs Group downgraded shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and lowered their price target for the company from $175.00 to $129.00 in a report on Friday, January 10th. Morgan Stanley reduced their price target on shares of Advanced Micro Devices from $158.00 to $147.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Cantor Fitzgerald reissued an “overweight” rating and set a $180.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price objective on shares of Advanced Micro Devices in a report on Tuesday. Finally, Wedbush reaffirmed an “outperform” rating and issued a $150.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Advanced Micro Devices presently has an average rating of “Moderate Buy” and a consensus price target of $161.30.

Advanced Micro Devices Stock Performance

Shares of Advanced Micro Devices stock opened at $110.16 on Wednesday. The firm has a market capitalization of $178.77 billion, a P/E ratio of 99.24, a P/E/G ratio of 1.03 and a beta of 1.65. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. Advanced Micro Devices has a 12 month low of $106.50 and a 12 month high of $227.30. The business has a fifty day simple moving average of $124.53 and a two-hundred day simple moving average of $140.39.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $0.88 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.19). Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. On average, equities analysts forecast that Advanced Micro Devices will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Advanced Micro Devices news, CEO Lisa T. Su sold 76,496 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total transaction of $10,912,919.36. Following the sale, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at approximately $508,834,266.92. This represents a 2.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

A number of hedge funds and other institutional investors have recently bought and sold shares of AMD. Vestmark Advisory Solutions Inc. lifted its holdings in shares of Advanced Micro Devices by 51.1% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 24,572 shares of the semiconductor manufacturer’s stock worth $2,968,000 after purchasing an additional 8,315 shares during the last quarter. Ethos Financial Group LLC grew its stake in Advanced Micro Devices by 36.8% during the 4th quarter. Ethos Financial Group LLC now owns 2,045 shares of the semiconductor manufacturer’s stock worth $247,000 after buying an additional 550 shares during the last quarter. Promus Capital LLC acquired a new stake in Advanced Micro Devices in the fourth quarter worth $74,000. Arizona State Retirement System lifted its stake in Advanced Micro Devices by 1.3% in the fourth quarter. Arizona State Retirement System now owns 469,457 shares of the semiconductor manufacturer’s stock valued at $56,706,000 after buying an additional 6,085 shares during the last quarter. Finally, Vantage Financial Partners LLC bought a new position in shares of Advanced Micro Devices during the fourth quarter worth about $277,000. 71.34% of the stock is currently owned by institutional investors and hedge funds.

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.