Advanced Micro Devices (NASDAQ:AMD) Trading Down 0.2% on Analyst Downgrade

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares traded down 0.2% during mid-day trading on Thursday after Susquehanna lowered their price target on the stock from $200.00 to $165.00. Susquehanna currently has a positive rating on the stock. Advanced Micro Devices traded as low as $117.50 and last traded at $117.16. 10,385,172 shares changed hands during trading, a decline of 73% from the average session volume of 37,798,441 shares. The stock had previously closed at $117.35.

AMD has been the subject of several other reports. Piper Sandler reiterated an “overweight” rating and issued a $180.00 target price (down from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Hsbc Global Res cut Advanced Micro Devices from a “strong-buy” rating to a “moderate sell” rating in a report on Wednesday, January 8th. TD Cowen lowered their target price on Advanced Micro Devices from $185.00 to $150.00 and set a “buy” rating for the company in a report on Monday, January 13th. Benchmark reiterated a “buy” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a report on Thursday, October 31st. Finally, Morgan Stanley reduced their price target on Advanced Micro Devices from $169.00 to $158.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $169.77.

Insiders Place Their Bets

In other news, CEO Lisa T. Su sold 76,496 shares of the stock in a transaction dated 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 of the company’s stock, valued at $508,834,266.92. This represents a 2.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Forrest Eugene Norrod sold 40,540 shares of Advanced Micro Devices stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total value 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 approximately $41,558,469.49. This represents a 12.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 197,036 shares of company stock valued at $28,165,821. Company insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

A number of large investors have recently bought and sold shares of AMD. Anchor Investment Management LLC raised its holdings in Advanced Micro Devices by 1.6% in the 2nd quarter. Anchor Investment Management LLC now owns 5,919 shares of the semiconductor manufacturer’s stock worth $960,000 after purchasing an additional 94 shares during the period. Massmutual Trust Co. FSB ADV increased its stake in Advanced Micro Devices by 5.4% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 5,005 shares of the semiconductor manufacturer’s stock worth $821,000 after buying an additional 255 shares in the last quarter. Czech National Bank increased its stake in Advanced Micro Devices by 7.0% during the 3rd quarter. Czech National Bank now owns 329,712 shares of the semiconductor manufacturer’s stock worth $54,099,000 after buying an additional 21,708 shares in the last quarter. Canandaigua National Bank & Trust Co. increased its stake in Advanced Micro Devices by 90.6% during the 3rd quarter. Canandaigua National Bank & Trust Co. now owns 3,312 shares of the semiconductor manufacturer’s stock worth $543,000 after buying an additional 1,574 shares in the last quarter. Finally, Delta Financial Group Inc. increased its stake in Advanced Micro Devices by 68.2% during the 3rd quarter. Delta Financial Group Inc. now owns 2,228 shares of the semiconductor manufacturer’s stock worth $366,000 after buying an additional 903 shares in the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

Advanced Micro Devices Trading Down 2.4 %

The company has a 50 day simple moving average of $126.37 and a 200 day simple moving average of $141.93. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50. The company has a market capitalization of $188.16 billion, a PE ratio of 104.46, a price-to-earnings-growth ratio of 1.04 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, hitting 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 company had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same period in the previous year, the business earned $0.53 EPS. Advanced Micro Devices’s quarterly revenue was up 17.6% on a year-over-year basis. Analysts anticipate that Advanced Micro Devices, Inc. will post 2.54 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.