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

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price was down 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 changed hands during mid-day trading, a decline of 28% from the average daily volume of 38,317,762 shares. The stock had previously closed at $121.84.

Other equities research analysts have also recently issued reports about the company. Roth Mkm restated a “buy” rating and set a $200.00 target price on shares of Advanced Micro Devices in a report on Friday, October 11th. TD Cowen dropped their price objective on 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. HSBC reaffirmed a “reduce” rating and issued a $110.00 target price (down from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday. Morgan Stanley cut 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, The Goldman Sachs Group downgraded shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $175.00 to $129.00 in a research note on Friday. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $185.22.

Insider Buying and Selling

In other news, EVP Forrest Eugene Norrod sold 40,540 shares of Advanced Micro Devices stock in a transaction dated Tuesday, November 5th. The stock was 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 of the company’s stock, valued at $41,558,469.49. The trade was a 12.14 % decrease in their position. The transaction was disclosed in a document filed 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 dated 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 completion of the transaction, the chief executive officer now owns 3,566,762 shares in the company, valued at approximately $513,150,048.94. The trade was a 2.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 197,036 shares of company stock valued at $28,165,821 over the last quarter. Corporate insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Johnson Investment Counsel Inc. boosted its stake in Advanced Micro Devices by 6.4% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 10,251 shares of the semiconductor manufacturer’s stock valued at $1,663,000 after purchasing an additional 620 shares during the last quarter. PFG Advisors increased its holdings in Advanced Micro Devices by 4.4% in the 2nd quarter. PFG Advisors now owns 6,852 shares of the semiconductor manufacturer’s stock worth $1,111,000 after buying an additional 291 shares in the last quarter. 1ST Source Bank raised its position in Advanced Micro Devices by 4.8% in the 2nd quarter. 1ST Source Bank now owns 2,338 shares of the semiconductor manufacturer’s stock worth $379,000 after buying an additional 107 shares during the last quarter. O Neil Global Advisors Inc. bought a new position in Advanced Micro Devices during the 2nd quarter valued at about $10,498,000. Finally, Parallel Advisors LLC boosted its holdings in shares of Advanced Micro Devices by 5.7% during the 2nd quarter. Parallel Advisors LLC now owns 22,395 shares of the semiconductor manufacturer’s stock valued at $3,633,000 after acquiring an additional 1,217 shares during the last quarter. 71.34% of the stock is owned by hedge funds and other institutional investors.

Advanced Micro Devices Price Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78. The business’s 50 day moving average price is $132.58 and its 200 day moving average price is $146.64. The stock has a market capitalization of $188.31 billion, a P/E ratio of 104.54, a price-to-earnings-growth ratio of 1.88 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.92. The company had revenue of $6.82 billion for 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%. The firm’s quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter last year, the company posted $0.53 earnings per share. Sell-side analysts forecast that Advanced Micro Devices, Inc. will post 2.54 EPS for the current year.

About Advanced Micro Devices

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.