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

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares fell 1.4% 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. 13,605,598 shares traded hands during trading, a decline of 65% from the average session volume of 39,382,988 shares. The stock had previously closed at $117.32.

Several other brokerages also recently weighed in on AMD. StockNews.com downgraded shares of Advanced Micro Devices from a “hold” rating to a “sell” rating in a research note on Tuesday. TD Cowen decreased their target price on shares of Advanced Micro Devices from $185.00 to $150.00 and set a “buy” rating for the company in a research note on Monday. The Goldman Sachs Group downgraded shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $175.00 to $129.00 in a research report on Friday, January 10th. Hsbc Global Res downgraded shares of Advanced Micro Devices from a “strong-buy” rating to a “moderate sell” rating in a research report on Wednesday, January 8th. Finally, HSBC restated a “reduce” rating and issued a $110.00 price objective (down previously from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $179.68.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 40,540 shares of Advanced Micro Devices 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 directly owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. The trade was a 12.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Lisa T. Su sold 80,000 shares of Advanced Micro Devices stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at $513,150,048.94. The trade was a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 197,036 shares of company stock valued at $28,165,821 in the last ninety days. Corporate insiders own 0.73% of the company’s stock.

Institutional Trading of Advanced Micro Devices

Several hedge funds and other institutional investors have recently bought and sold shares of AMD. Christopher J. Hasenberg Inc grew its stake in shares of Advanced Micro Devices by 12.0% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 560 shares of the semiconductor manufacturer’s stock valued at $97,000 after buying an additional 60 shares during the period. Wealth Effects LLC grew its stake in shares of Advanced Micro Devices by 0.7% during the 3rd quarter. Wealth Effects LLC now owns 9,419 shares of the semiconductor manufacturer’s stock valued at $1,545,000 after buying an additional 65 shares during the period. Jacobsen Capital Management grew its stake in shares of Advanced Micro Devices by 2.1% during the 3rd quarter. Jacobsen Capital Management now owns 3,378 shares of the semiconductor manufacturer’s stock valued at $554,000 after buying an additional 70 shares during the period. Sigma Investment Counselors Inc. grew its stake in shares of Advanced Micro Devices by 5.3% during the 3rd quarter. Sigma Investment Counselors Inc. now owns 1,482 shares of the semiconductor manufacturer’s stock valued at $243,000 after buying an additional 74 shares during the period. Finally, Bedell Frazier Investment Counselling LLC grew its stake in shares of Advanced Micro Devices by 4.3% during the 3rd quarter. Bedell Frazier Investment Counselling LLC now owns 1,780 shares of the semiconductor manufacturer’s stock valued at $292,000 after buying an additional 74 shares during the period. 71.34% of the stock is owned by hedge funds and other institutional investors.

Advanced Micro Devices Price Performance

The company’s 50 day moving average price is $131.60 and its 200-day moving average price is $145.95. The company has a market capitalization of $194.67 billion, a PE ratio of 108.07, a PEG ratio of 1.88 and a beta of 1.66. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (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 period in the previous year, the company earned $0.53 EPS. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. On average, sell-side analysts forecast 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.