Advanced Micro Devices (NASDAQ:AMD) Trading Down 5.1% After Analyst Downgrade

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) dropped 5.1% 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 $114.45 and last traded at $115.65. Approximately 27,582,787 shares were traded during trading, a decline of 28% from the average daily volume of 38,317,762 shares. The stock had previously closed at $121.84.

Several other research firms have also weighed in on AMD. Benchmark reaffirmed a “buy” rating and set a $200.00 target price on shares of Advanced Micro Devices in a report on Thursday, October 31st. Bank of America cut shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and cut their price objective for the company from $180.00 to $155.00 in a report on Monday, December 9th. Piper Sandler reissued an “overweight” rating and set a $180.00 target price (down from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. UBS Group reduced their price target on Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Finally, Roth Mkm reissued a “buy” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a report on Friday, October 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $185.22.

Insider Buying and Selling

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 owns 293,347 shares of the company’s stock, valued at $41,558,469.49. This represents a 12.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Lisa T. Su sold 80,000 shares of Advanced Micro Devices stock in a transaction dated 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 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 197,036 shares of company stock worth $28,165,821. Insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

A number of hedge funds have recently made changes to their positions in AMD. Creative Capital Management Investments LLC lifted its stake in Advanced Micro Devices by 124.6% during the third 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 lifted its stake in 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 acquiring an additional 75 shares in the last quarter. Global Wealth Strategies & Associates purchased a new position in Advanced Micro Devices during the 4th quarter valued at about $26,000. Fairway Wealth LLC acquired a new position in Advanced Micro Devices in the 2nd quarter valued at about $27,000. Finally, Abich Financial Wealth Management LLC increased its stake in Advanced Micro Devices by 101.8% during the second 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 period. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Price Performance

The company’s 50-day moving average price is $132.58 and its 200-day moving average price is $146.74. 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 market cap of $188.31 billion, a price-to-earnings ratio of 104.54, a PEG ratio of 1.88 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD) last issued 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 company had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter last year, the company posted $0.53 EPS. The firm’s revenue was up 17.6% compared to the same quarter last year. On average, equities research analysts forecast 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.