Advanced Micro Devices (NASDAQ:AMD) Stock Price Down 5.1% on Analyst Downgrade

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) were down 5.1% during trading on Friday after Mizuho lowered their price target on the stock from $180.00 to $160.00. Mizuho currently has an outperform rating on the stock. Advanced Micro Devices traded as low as $114.45 and last traded at $115.65. Approximately 27,582,787 shares traded hands during mid-day trading, a decline of 28% from the average daily volume of 38,317,762 shares. The stock had previously closed at $121.84.

A number of other analysts have also commented on the company. Piper Sandler reissued an “overweight” rating and set a $180.00 price target (down from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. The Goldman Sachs Group lowered shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $175.00 to $129.00 in a report on Friday. Bank of America downgraded shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and dropped their price target for the company from $180.00 to $155.00 in a research note on Monday, December 9th. TD Cowen cut their price target on shares of Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Finally, HSBC restated a “reduce” rating and issued a $110.00 price objective (down from $200.00) on shares of Advanced Micro Devices in a report on Wednesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Advanced Micro Devices has an average rating of “Moderate Buy” and a consensus target price of $185.22.

Insiders Place Their Bets

In related news, CEO Lisa T. Su sold 76,496 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $508,834,266.92. This represents a 2.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Forrest Eugene Norrod sold 40,540 shares of Advanced Micro Devices 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 completion of the transaction, the executive vice president now owns 293,347 shares of the company’s stock, valued at $41,558,469.49. This represents a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 197,036 shares of company stock valued at $28,165,821 over the last ninety days. 0.65% of the stock is currently owned by insiders.

Institutional Trading of Advanced Micro Devices

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Creative Capital Management Investments LLC increased its holdings in shares of Advanced Micro Devices by 124.6% in the third quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 86 shares during the period. ZRC Wealth Management LLC increased its stake in Advanced Micro Devices by 90.4% in the 3rd quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 75 shares during the last quarter. Global Wealth Strategies & Associates bought a new position in Advanced Micro Devices in the 4th quarter worth about $26,000. Fairway Wealth LLC purchased a new stake in shares of Advanced Micro Devices in the 2nd quarter valued at about $27,000. Finally, Abich Financial Wealth Management LLC boosted its position in shares of Advanced Micro Devices by 101.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 220 shares of the semiconductor manufacturer’s stock valued at $36,000 after acquiring an additional 111 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors.

Advanced Micro Devices Stock Down 4.8 %

The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78. The company has a fifty day moving average price of $132.58 and a 200 day moving average price of $146.64. The company has a market cap of $188.31 billion, a PE ratio of 104.54, a price-to-earnings-growth ratio of 1.88 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, hitting analysts’ consensus estimates of $0.92. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The business had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter in the previous year, the company earned $0.53 EPS. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. As a group, 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.