Advanced Micro Devices (NASDAQ: AMD) was demoted by Zacks Investment Research for a rating of" buy "to a rating of" suspense "in a research report issued on Friday, November 10.
According to Zacks," AMD is benefiting from the strong sales of the graphics processing unit (GPU). This was evident from the fact that third quarter revenues were the highest since 2011, driven mainly by the strong performance of the company's product portfolio comprising Ryzen, EPYC and Radeon Vega. In addition, it is expected that the company's collaborations with Baidu, Amazon, Tencent, Microsoft and JD.com will drive the vanguard line in the future. AMD has outperformed the industry to which it belongs. However, the administration's guidance for a sequential decrease in revenues does not augur well for investors in the short term. In addition, the higher costs badociated with the introduction of products are likely to affect the short-term profitability of the company. In addition, increasing competition from the likes of NVIDIA remains a concern. We also believe that the departure of Raja Koduri, chief architect of the Radeon Group, is a short-term windfall for the company. "
Several other badysts also commented recently on AMD Canaccord Genuity reiterated a" buy "rating and issued a price target of $ 20.00 on shares of Advanced Micro Devices in a research report on Monday, July 17. Barclays eliminated Advanced Micro Devices from an "equal weight" rating to an "underweight" rating and set a target price $ 9.00 for the company in a report on Tuesday, July 18. Rosenblatt Securities reissued a "buy" rating and issued a target price of $ 20.00 on shares of Advanced Micro Devices in a report on Tuesday, July 18. Summit Redstone reaffirmed a "suspension" rating of Advanced Micro Devices shares in a report on Saturday, July 22. Finally, MKM members reaffirmed a "neutral" rating and set a target price of $ 13.00 for the shares of Advanced Micro Devices in a report on Friday, July 21. Six badysts have rated the shares with a sale rating, sixteen have badigned a hold rating, ten have granted a purchase rating and one has badigned a strong purchase rating to the company's stock. The stock has an average "Hold" rating and a consensus price target of $ 14.05.
Advanced Micro Devices shares (NASDAQ: AMD) fell $ 0.38 during the Friday afternoon session, reaching $ 11.17. The company's shares had a trading volume of 65,273,531 shares, compared to its average volume of 67,483,227. The company has a quick ratio of 1.20, a current ratio of 1.70 and a debt-to-equity ratio of 2.61. Advanced Micro Devices has a minimum of 52 weeks of $ 8.26 and a maximum of 52 weeks of $ 15.65.
In related news, SVP James Robert Anderson sold 20,000 shares of the company's stock in a transaction that took place on Friday, September 22. The stock was sold at an average price of $ 13.26, for a total value of $ 265,200.00. After the completion of the sale, the senior vice president now directly owns 513,773 shares in the company, valued at $ 6,812,629.98. The sale was disclosed in a filing with the SEC, which is available at this link. In addition, SVP Forrest Eugene Norrod sold 62,500 shares of the company in a transaction that took place on Friday, September 8. The shares were sold at an average price of $ 12.27, for a total value of $ 766,875.00. After the completion of the sale, the senior vice president now owns 731,461 shares of the company's stock, valued at $ 8,975,026.47. The disclosure of this sale can be found here. In the last three months, insiders have sold 1,161,264 shares of the company's stock worth $ 14,093,169. The company's experts own 1.60% of the company's shares.
Several hedge funds have recently modified their holdings of AMD. Vanguard Group Inc. raised its stake in Advanced Micro Devices by 6.6% during the second quarter. Vanguard Group Inc. now owns 93,092,619 shares of the semiconductor maker's stock worth $ 1,161,796,000 after buying 5,797,819 additional shares during the last quarter. Baillie Gifford & Co. purchased a new stake in Advanced Micro Devices during the second quarter with a value of $ 184,767,000. CI Investments Inc. raised its stake in Advanced Micro Devices by 312.3% during the third quarter. CI Investments Inc. now owns 7,322,893 shares of the semiconductor manufacturer's stock worth $ 93,367,000 after buying 5,546,993 additional shares during the last quarter. Legal & General Group Plc raised its stake in Advanced Micro Devices by 2.9% during the third quarter. Legal & General Group Plc now owns 4,041,764 shares of the semiconductor maker's stock worth $ 51,531,000 after buying 114,073 additional shares during the last quarter. Finally, American Century Companies Inc. purchased a new stake in Advanced Micro Devices during the third quarter with a value of $ 49,674,000. Institutional investors and hedge funds hold 59.47% of the company's shares.
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Advanced Micro Devices Company Profile
Advanced Micro Devices, Inc. is a global semiconductor company. The company is dedicated to offering x86 microprocessors, as stand-alone devices or embedded in an accelerated processing unit (APU), chipsets, discrete graphics processing (GPU) units and professional graphics, and server and embedded processors and semi-systems -personalized. Products and chip technology (SoC) for videogame consoles.
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