Advanced Micro Devices (NASDAQ:AMD) Shares Down 1.4% Following Analyst Downgrade

Advanced Micro Devices, Inc. (NASDAQ:AMD) fell 1.4% on Tuesday 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 $115.50 and last traded at $115.65. 13,605,598 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 39,382,988 shares. The stock had previously closed at $117.32.

AMD has been the subject of a number of other reports. Morgan Stanley lowered their price target on shares of Advanced Micro Devices from $169.00 to $158.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Bank of America downgraded Advanced Micro Devices from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $180.00 to $155.00 in a report on Monday, December 9th. Wells Fargo & Company cut their price target on shares of Advanced Micro Devices from $205.00 to $165.00 and set an “overweight” rating on the stock in a report on Monday. Loop Capital began coverage on shares of Advanced Micro Devices in a report on Tuesday. They issued a “buy” rating and a $175.00 price objective for the company. Finally, UBS Group lowered their target price on Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $179.68.

Insiders Place Their Bets

In related news, CEO Lisa T. Su sold 80,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the completion of the sale, the chief executive officer now owns 3,566,762 shares in the company, valued at $513,150,048.94. This represents a 2.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. This trade represents a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 197,036 shares of company stock valued at $28,165,821 over the last three months. 0.73% of the stock is currently owned by insiders.

Institutional Trading of Advanced Micro Devices

Hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its position in Advanced Micro Devices by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,656,965 shares of the semiconductor manufacturer’s stock worth $1,584,515,000 after acquiring an additional 177,700 shares during the last quarter. Swiss National Bank raised its position in Advanced Micro Devices by 0.3% in the 3rd quarter. Swiss National Bank now owns 4,797,575 shares of the semiconductor manufacturer’s stock worth $787,186,000 after purchasing an additional 12,500 shares during the last quarter. Shum Financial Group Inc. bought a new position in Advanced Micro Devices in the 3rd quarter valued at $858,000. State Street Corp raised its position in shares of Advanced Micro Devices by 2.3% during the third quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after acquiring an additional 1,580,035 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in 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 worth $5,597,337,000 after purchasing an additional 441,924 shares during the period. Institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Stock Down 1.0 %

The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. The company has a market cap of $188.39 billion, a P/E ratio of 104.59, a price-to-earnings-growth ratio of 1.88 and a beta of 1.66. The firm’s 50 day moving average price is $131.60 and its 200-day moving average price is $145.95.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, meeting analysts’ consensus estimates of $0.92. The company had revenue of $6.82 billion during the quarter, compared to analysts’ expectations 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 period in the prior year, the business posted $0.53 EPS. As a group, equities research analysts expect that Advanced Micro Devices, Inc. will post 2.54 EPS 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.