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

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price was down 0.6% on Monday after Wells Fargo & Company lowered their price target on the stock from $205.00 to $165.00. Wells Fargo & Company 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.

Several other equities analysts have also recently issued reports on AMD. HSBC reissued a “reduce” rating and issued a $110.00 price objective (down previously from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, January 8th. Piper Sandler restated an “overweight” rating and issued a $180.00 price objective (down previously from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. Evercore ISI lifted their target price on shares of Advanced Micro Devices from $193.00 to $198.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Benchmark reissued a “buy” rating and set a $200.00 price target on shares of Advanced Micro Devices in a report on Thursday, October 31st. Finally, Bank of America downgraded shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $180.00 to $155.00 in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $182.44.

Insider Activity at Advanced Micro Devices

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total value of $5,743,301.80. Following the transaction, the executive vice president now directly owns 293,347 shares in the company, valued at approximately $41,558,469.49. This represents a 12.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Lisa T. Su sold 80,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total value of $11,509,600.00. Following the sale, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at approximately $513,150,048.94. This trade represents a 2.19 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 197,036 shares of company stock valued at $28,165,821. 0.73% of the stock is currently owned by insiders.

Institutional Trading of Advanced Micro Devices

A number of hedge funds and other institutional investors have recently modified their holdings of AMD. International Assets Investment Management LLC increased its stake in Advanced Micro Devices by 17,137.3% during the third quarter. International Assets Investment Management LLC now owns 7,860,909 shares of the semiconductor manufacturer’s stock worth $1,289,818,000 after purchasing an additional 7,815,305 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Advanced Micro Devices by 42.2% in the third quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock valued at $1,381,679,000 after purchasing an additional 2,497,056 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Advanced Micro Devices during the 2nd quarter worth approximately $296,178,000. State Street Corp lifted its holdings in Advanced Micro Devices by 2.3% during the 3rd 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 in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Advanced Micro Devices by 8.7% in the 3rd 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 valued at $3,195,000,000 after buying an additional 1,565,083 shares during the period. 71.34% of the stock is owned by institutional investors and hedge funds.

Advanced Micro Devices Trading Up 1.1 %

The company’s 50 day simple moving average is $132.11 and its 200 day simple moving average is $146.27. 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 firm has a market cap of $190.39 billion, a price-to-earnings ratio of 105.69, a P/E/G ratio of 1.88 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, hitting the consensus estimate of $0.92. The company had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.71 billion. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. Advanced Micro Devices’s revenue was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.53 EPS. As a group, research analysts expect that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current fiscal 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.