Advanced Micro Devices (NASDAQ:AMD) Hits New 1-Year Low on 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 trading hands. The stock had previously closed at $121.84.

Other equities research analysts have also issued research reports about the stock. Hsbc Global Res lowered shares of Advanced Micro Devices from a “strong-buy” rating to a “moderate sell” rating in a research note on Wednesday. HSBC reaffirmed a “reduce” rating and issued a $110.00 price target (down previously from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday. Evercore ISI increased their price objective on Advanced Micro Devices from $193.00 to $198.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Citigroup reduced their target price on Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Finally, Piper Sandler reiterated an “overweight” rating and set a $180.00 price target (down previously from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $185.22.

Insiders Place Their Bets

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total transaction 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 $41,558,469.49. This trade represents a 12.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Lisa T. Su sold 80,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total value of $11,509,600.00. Following the completion of the sale, the chief executive officer now owns 3,566,762 shares in the company, valued at $513,150,048.94. This trade represents a 2.19 % 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 90 days. Corporate insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

Large investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in Advanced Micro Devices by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,656,965 shares of the semiconductor manufacturer’s stock valued at $1,584,515,000 after purchasing an additional 177,700 shares during the last quarter. Swiss National Bank raised its holdings in shares of Advanced Micro Devices by 0.3% in the third quarter. Swiss National Bank now owns 4,797,575 shares of the semiconductor manufacturer’s stock valued at $787,186,000 after buying an additional 12,500 shares during the last quarter. Shum Financial Group Inc. acquired a new position in Advanced Micro Devices during the 3rd quarter worth about $858,000. State Street Corp grew its holdings in Advanced Micro Devices by 2.3% during the 3rd quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after acquiring an additional 1,580,035 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Advanced Micro Devices by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock valued at $5,597,337,000 after acquiring an additional 441,924 shares in the last quarter. Institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Stock Performance

The stock’s 50 day simple moving average is $132.58 and its two-hundred day simple moving average is $146.64. The company has a market capitalization of $188.31 billion, a P/E ratio of 104.54, a P/E/G ratio of 1.88 and a beta of 1.66. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, hitting the consensus estimate of $0.92. The firm had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. Advanced Micro Devices’s revenue was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.53 EPS. As a group, research analysts expect 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.