Advanced Micro Devices (NASDAQ:AMD) Trading Down 9% on Analyst Downgrade

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price traded down 9% on Wednesday after KeyCorp lowered their price target on the stock from $270.00 to $230.00. KeyCorp currently has an overweight rating on the stock. Advanced Micro Devices traded as low as $144.08 and last traded at $144.11. 36,661,192 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 71,790,758 shares. The stock had previously closed at $158.38.

AMD has been the topic of several other reports. Barclays lifted their target price on shares of Advanced Micro Devices from $200.00 to $235.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. Roth Mkm upped their price objective on shares of Advanced Micro Devices from $125.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. New Street Research upgraded shares of Advanced Micro Devices from a “neutral” rating to a “buy” rating and set a $215.00 price objective on the stock in a research note on Wednesday, January 24th. Melius upgraded shares of Advanced Micro Devices from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. Finally, Cantor Fitzgerald dropped their price objective on shares of Advanced Micro Devices from $190.00 to $170.00 and set an “overweight” rating on the stock in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $183.97.

Insider Activity

In related news, CEO Lisa T. Su sold 125,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $195.13, for a total transaction of $24,391,250.00. Following the transaction, the chief executive officer now directly owns 3,222,230 shares in the company, valued at $628,753,739.90. The sale was disclosed in a filing with the SEC, which is available through this link. In other Advanced Micro Devices news, insider Victor Peng sold 100,000 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $175.11, for a total value of $17,511,000.00. Following the transaction, the insider now directly owns 241,266 shares in the company, valued at $42,248,089.26. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Lisa T. Su sold 125,000 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $195.13, for a total transaction of $24,391,250.00. Following the completion of the transaction, the chief executive officer now owns 3,222,230 shares in the company, valued at $628,753,739.90. The disclosure for this sale can be found here. Insiders have sold 341,143 shares of company stock worth $62,580,844 over the last ninety days. Insiders own 0.65% of the company’s stock.

Institutional Trading of Advanced Micro Devices

Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Advanced Micro Devices during the fourth quarter worth $3,426,529,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in Advanced Micro Devices by 813.3% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,647,457 shares of the semiconductor manufacturer’s stock worth $685,089,000 after buying an additional 4,138,612 shares during the last quarter. International Assets Investment Management LLC raised its stake in Advanced Micro Devices by 15,896.5% during the fourth quarter. International Assets Investment Management LLC now owns 3,737,433 shares of the semiconductor manufacturer’s stock worth $550,935,000 after buying an additional 3,714,069 shares during the last quarter. Capital World Investors raised its stake in Advanced Micro Devices by 176.9% during the fourth quarter. Capital World Investors now owns 4,668,542 shares of the semiconductor manufacturer’s stock worth $688,190,000 after buying an additional 2,982,704 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Advanced Micro Devices by 10.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,675,684 shares of the semiconductor manufacturer’s stock worth $4,079,674,000 after buying an additional 2,553,392 shares during the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

Advanced Micro Devices Price Performance

The company has a quick ratio of 1.86, a current ratio of 2.51 and a debt-to-equity ratio of 0.03. The firm has a market cap of $232.90 billion, a P/E ratio of 277.14, a P/E/G ratio of 2.44 and a beta of 1.64. The business’s 50 day moving average is $177.04 and its two-hundred day moving average is $151.59.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.01. Advanced Micro Devices had a net margin of 3.77% and a return on equity of 5.73%. The firm had revenue of $5.47 billion during the quarter, compared to the consensus estimate of $5.48 billion. During the same period in the previous year, the firm posted $0.43 earnings per share. The business’s revenue was up 2.2% compared to the same quarter last year. As a group, analysts anticipate that Advanced Micro Devices, Inc. will post 2.64 earnings per share for the current year.

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.