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

Advanced Micro Devices, Inc. (NASDAQ:AMD) was down 1.4% during mid-day trading 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. Approximately 13,605,598 shares changed hands during trading, a decline of 65% from the average daily volume of 39,382,988 shares. The stock had previously closed at $117.32.

Other analysts have also issued reports about the stock. The Goldman Sachs Group lowered shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $175.00 to $129.00 in a research note on Friday, January 10th. Bank of America cut shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and reduced their target price for the company from $180.00 to $155.00 in a report on Monday, December 9th. Wells Fargo & Company lowered their target price on Advanced Micro Devices from $205.00 to $165.00 and set an “overweight” rating on the stock in a research report on Monday. UBS Group decreased their target price on shares of Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Finally, Citigroup lowered their target price on shares of Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Advanced Micro Devices currently has an average rating of “Moderate Buy” and an average target price of $179.68.

Insider Activity

In other news, EVP Forrest Eugene Norrod sold 40,540 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $41,558,469.49. This represents a 12.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Lisa T. Su sold 80,000 shares of Advanced Micro Devices stock in a transaction 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 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 ownership of the stock. 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 company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Creative Capital Management Investments LLC lifted its position in shares of Advanced Micro Devices by 124.6% during 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 grew its stake in Advanced Micro Devices by 90.4% in the 3rd quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 75 shares during the last quarter. Global Wealth Strategies & Associates acquired a new position in Advanced Micro Devices during the fourth quarter worth about $26,000. Fairway Wealth LLC acquired a new stake in shares of Advanced Micro Devices in the second quarter valued at approximately $27,000. Finally, Abich Financial Wealth Management LLC raised its position in shares of 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 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 Trading 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 stock has a market cap of $188.39 billion, a PE ratio of 104.59, a price-to-earnings-growth ratio of 1.88 and a beta of 1.66. The business has a 50 day moving average of $131.60 and a 200-day moving average of $145.95.

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, meeting analysts’ consensus estimates of $0.92. The company had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The company’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.53 EPS. On average, analysts anticipate 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.