Advanced Micro Devices (NASDAQ:AMD) Shares Down 0.6% After Analyst Downgrade

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price was down 0.6% on Monday after KeyCorp lowered their price target on the stock from $220.00 to $150.00. KeyCorp currently has an overweight rating on the stock. Advanced Micro Devices traded as low as $114.41 and last traded at $115.38. Approximately 15,717,378 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 39,672,891 shares. The stock had previously closed at $116.04.

Other research analysts have also recently issued reports about the stock. Mizuho dropped their target price on shares of Advanced Micro Devices from $180.00 to $160.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Citigroup dropped their price objective on Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Benchmark reissued a “buy” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research report on Thursday, October 31st. Piper Sandler restated an “overweight” rating and issued a $180.00 target price (down from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Finally, TD Cowen cut their price target on Advanced Micro Devices from $185.00 to $150.00 and set a “buy” rating for the company in a research note on Monday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $179.68.

Insiders Place Their Bets

In other Advanced Micro Devices news, CEO Lisa T. Su sold 76,496 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $142.66, for a total value of $10,912,919.36. Following the completion of the sale, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at $508,834,266.92. This represents a 2.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the transaction, the executive vice president now owns 293,347 shares in the company, valued at $41,558,469.49. The trade was a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 197,036 shares of company stock valued at $28,165,821 in the last quarter. Corporate insiders own 0.73% of the company’s stock.

Institutional Trading of Advanced Micro Devices

Institutional investors have recently added to or reduced their stakes in the business. State Street Corp increased its stake in shares of Advanced Micro Devices by 2.3% in the third quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after buying an additional 1,580,035 shares during the period. Geode Capital Management LLC increased its position in shares of Advanced Micro Devices by 1.3% in the third quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock valued at $5,597,337,000 after acquiring an additional 441,924 shares during the period. Fisher Asset Management LLC raised its stake in shares of Advanced Micro Devices by 2.8% during the third quarter. Fisher Asset Management LLC now owns 23,795,236 shares of the semiconductor manufacturer’s stock valued at $3,904,323,000 after acquiring an additional 644,039 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Advanced Micro Devices by 8.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,472,211 shares of the semiconductor manufacturer’s stock worth $3,195,000,000 after purchasing an additional 1,565,083 shares during the period. Finally, Legal & General Group Plc grew its stake in shares of Advanced Micro Devices by 1.4% in the second quarter. Legal & General Group Plc now owns 13,310,158 shares of the semiconductor manufacturer’s stock worth $2,159,039,000 after purchasing an additional 188,580 shares during the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Micro Devices Stock Down 1.0 %

The company has a 50 day moving average of $131.60 and a 200-day moving average of $145.95. The company has a market capitalization of $188.39 billion, a P/E ratio of 104.59, a PEG ratio of 1.88 and a beta of 1.66. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78.

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

About Advanced Micro Devices

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.