Advanced Micro Devices (NASDAQ:AMD) Hits New 52-Week Low Following Analyst Downgrade

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. The stock had previously closed at $121.84.

A number of other research firms also recently commented on AMD. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 target price on shares of Advanced Micro Devices in a research report on Monday, October 28th. Citigroup decreased their price objective on shares of Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. The Goldman Sachs Group downgraded shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and dropped their target price for the company from $175.00 to $129.00 in a report on Friday. Morgan Stanley reduced their price target on shares of Advanced Micro Devices from $169.00 to $158.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Finally, TD Cowen dropped their price objective on shares of Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. 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 given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $185.22.

Insider Buying and Selling at Advanced Micro Devices

In other news, CEO Lisa T. Su sold 80,000 shares of the 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 completion of the transaction, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at approximately $513,150,048.94. This represents a 2.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 transaction of $5,743,301.80. Following the sale, the executive vice president now 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 disclosure for this sale can be found here. Insiders have sold 197,036 shares of company stock worth $28,165,821 over the last quarter. 0.65% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Advanced Micro Devices

Several large investors have recently made changes to their positions in the business. Johnson Investment Counsel Inc. grew its holdings in shares of Advanced Micro Devices by 6.4% during the second quarter. Johnson Investment Counsel Inc. now owns 10,251 shares of the semiconductor manufacturer’s stock valued at $1,663,000 after buying an additional 620 shares in the last quarter. PFG Advisors grew its stake in Advanced Micro Devices by 4.4% during the 2nd quarter. PFG Advisors now owns 6,852 shares of the semiconductor manufacturer’s stock valued at $1,111,000 after acquiring an additional 291 shares in the last quarter. 1ST Source Bank increased its holdings in shares of Advanced Micro Devices by 4.8% in the 2nd quarter. 1ST Source Bank now owns 2,338 shares of the semiconductor manufacturer’s stock valued at $379,000 after purchasing an additional 107 shares during the period. O Neil Global Advisors Inc. purchased a new stake in shares of Advanced Micro Devices in the second quarter worth approximately $10,498,000. Finally, Parallel Advisors LLC boosted its holdings in shares of Advanced Micro Devices by 5.7% during the second quarter. Parallel Advisors LLC now owns 22,395 shares of the semiconductor manufacturer’s stock worth $3,633,000 after purchasing an additional 1,217 shares during the period. Institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Price Performance

The stock has a market capitalization of $188.31 billion, a PE ratio of 104.54, a P/E/G ratio of 1.88 and a beta of 1.66. 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 stock’s 50-day moving average is $132.58 and its 200 day moving average is $146.64.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, meeting the consensus estimate 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 analysts’ expectations of $6.71 billion. During the same period in the previous year, the company posted $0.53 EPS. Advanced Micro Devices’s revenue was up 17.6% on a year-over-year basis. As a group, equities analysts predict 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.