Advanced Micro Devices (NASDAQ:AMD) Trading Down 0.6% on Analyst Downgrade

Advanced Micro Devices, Inc. (NASDAQ:AMD) fell 0.6% during trading on Monday 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 $114.41 and last traded at $115.38. 15,717,378 shares changed hands during trading, a decline of 60% from the average session volume of 39,672,891 shares. The stock had previously closed at $116.04.

Several other equities analysts have also weighed in on the stock. Piper Sandler reissued an “overweight” rating and issued a $180.00 price objective (down from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price target on shares of Advanced Micro Devices in a report on Monday, October 28th. HSBC restated a “reduce” rating and set a $110.00 price objective (down from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, January 8th. Bank of America downgraded Advanced Micro Devices from a “buy” rating to a “neutral” rating and decreased their target price for the company from $180.00 to $155.00 in a research report on Monday, December 9th. Finally, Evercore ISI lifted their price target on Advanced Micro Devices from $193.00 to $198.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-three have given 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 an average rating of “Moderate Buy” and a consensus price target of $179.68.

Insider Transactions at Advanced Micro Devices

In other news, CEO Lisa T. Su sold 80,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was 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 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 293,347 shares in the company, valued at $41,558,469.49. The trade was a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 197,036 shares of company stock worth $28,165,821. Insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

A number of large investors have recently bought and sold shares of AMD. Creative Capital Management Investments LLC lifted its holdings 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 raised its holdings in Advanced Micro Devices by 90.4% during the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 75 shares during the last quarter. Global Wealth Strategies & Associates bought a new position in shares of Advanced Micro Devices in the fourth quarter valued at $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 increased its position in shares of 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 acquiring an additional 111 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Advanced Micro Devices Stock Down 1.0 %

The company has a market cap of $188.39 billion, a price-to-earnings ratio of 104.59, a price-to-earnings-growth ratio of 1.88 and a beta of 1.66. 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 stock’s fifty day moving average is $131.60 and its two-hundred day moving average is $145.95.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly 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. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The business had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter in the prior year, the company posted $0.53 earnings per share. Advanced Micro Devices’s revenue was up 17.6% compared to the same quarter last year. Sell-side analysts predict that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current fiscal 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.