Advanced Micro Devices (NASDAQ:AMD) Sets New 52-Week Low on Analyst Downgrade

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) reached a new 52-week low during mid-day 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 $115.01 and last traded at $115.28, with a volume of 12895736 shares trading hands. The stock had previously closed at $121.84.

AMD has been the subject of a number of other research reports. Barclays cut their price objective on shares of Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Piper Sandler reaffirmed an “overweight” rating and set a $180.00 price objective (down from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. TD Cowen reduced their target price on shares of Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Bank of America cut shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and lowered their target price for the company from $180.00 to $155.00 in a research note on Monday, December 9th. Finally, Citigroup reduced their price target on shares of Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. One equities 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 assigned a strong buy rating to the company. According to MarketBeat, Advanced Micro Devices has a consensus rating of “Moderate Buy” and a consensus price target of $185.22.

Insider Transactions at Advanced Micro Devices

In other news, CEO Lisa T. Su sold 76,496 shares of Advanced Micro Devices stock in a transaction 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 transaction, the chief executive officer now directly owns 3,566,762 shares in the company, valued at approximately $508,834,266.92. This trade represents a 2.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’s 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 sale, the executive vice president now directly owns 293,347 shares in the company, valued at approximately $41,558,469.49. The trade was a 12.14 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 197,036 shares of company stock worth $28,165,821. Insiders own 0.65% of the company’s stock.

Institutional Trading of Advanced Micro Devices

Large investors have recently added to or reduced their stakes in the company. Creative Capital Management Investments LLC grew its stake in Advanced Micro Devices by 124.6% in the 3rd quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 86 shares during the period. ZRC Wealth Management LLC raised its position in shares of Advanced Micro Devices by 90.4% during the 3rd quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 75 shares during the last quarter. Global Wealth Strategies & Associates acquired a new stake in Advanced Micro Devices in the 4th quarter worth about $26,000. Fairway Wealth LLC purchased a new stake in Advanced Micro Devices during the 2nd quarter worth approximately $27,000. Finally, Abich Financial Wealth Management LLC increased its stake in 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 worth $36,000 after buying an additional 111 shares in the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Stock Performance

The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average price of $132.58 and a two-hundred day moving average price of $146.64. The firm has a market cap of $188.31 billion, a PE ratio of 104.54, a P/E/G ratio of 1.88 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share 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 for the quarter, compared to analyst estimates of $6.71 billion. During the same period last year, the company posted $0.53 EPS. The business’s revenue was up 17.6% on a year-over-year basis. Research analysts forecast that Advanced Micro Devices, Inc. will post 2.54 EPS for the current fiscal 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.