Advanced Micro Devices (NASDAQ:AMD) Stock Price Down 0.6% After Analyst Downgrade

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) were down 0.6% during mid-day trading 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 traded hands during trading, a decline of 60% from the average daily volume of 39,672,891 shares. The stock had previously closed at $116.04.

A number of other analysts have also recently commented on the company. Bank of America cut Advanced Micro Devices from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $180.00 to $155.00 in a research report on Monday, December 9th. Barclays decreased their target price on shares of Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and issued a $180.00 price target (down from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. UBS Group decreased their price objective on shares of Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Finally, 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 stock from $175.00 to $129.00 in a report on Friday. 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $182.44.

Insider Activity

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 40,540 shares of the company’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 transaction, the executive vice president now directly owns 293,347 shares in the company, valued at $41,558,469.49. This represents a 12.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Lisa T. Su sold 80,000 shares of Advanced Micro Devices stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total transaction 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 $513,150,048.94. This represents a 2.19 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 197,036 shares of company stock valued at $28,165,821. 0.73% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Creative Capital Management Investments LLC boosted its position in shares of 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 worth $25,000 after purchasing an additional 86 shares in the last quarter. ZRC Wealth Management LLC boosted its holdings in Advanced Micro Devices by 90.4% in the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 75 shares in the last quarter. Global Wealth Strategies & Associates purchased a new stake in shares of Advanced Micro Devices during the fourth quarter worth about $26,000. Fairway Wealth LLC acquired a new position in shares of Advanced Micro Devices during the second quarter valued at about $27,000. Finally, Abich Financial Wealth Management LLC raised its position in shares of Advanced Micro Devices by 101.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 220 shares of the semiconductor manufacturer’s stock valued at $36,000 after purchasing an additional 111 shares during the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Micro Devices Stock Up 1.1 %

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 $190.39 billion, a price-to-earnings ratio of 105.69, a PEG ratio of 1.88 and a beta of 1.66. The business’s 50 day moving average is $132.11 and its 200 day moving average is $146.27.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.92. The firm 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%. The firm’s revenue was up 17.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.53 EPS. Sell-side 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.