Advanced Micro Devices (NASDAQ:AMD) Shares Down 1.9% Following Analyst Downgrade

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price was down 1.9% during trading on Thursday after DZ Bank downgraded the stock from a buy rating to a hold rating. DZ Bank now has a $120.00 price target on the stock. Advanced Micro Devices traded as low as $109.02 and last traded at $109.94. Approximately 19,423,878 shares were traded during trading, a decline of 54% from the average daily volume of 42,099,637 shares. The stock had previously closed at $112.01.

Several other research analysts have also commented on the company. Piper Sandler cut their price objective on Advanced Micro Devices from $180.00 to $140.00 and set an “overweight” rating on the stock in a research report on Wednesday. Bank of America lowered their target price on Advanced Micro Devices from $155.00 to $135.00 and set a “neutral” rating for the company in a research note on Wednesday. KeyCorp lowered their target price on Advanced Micro Devices from $150.00 to $140.00 and set an “overweight” rating for the company in a research note on Wednesday. Stifel Nicolaus lowered their target price on Advanced Micro Devices from $200.00 to $162.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $180.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Advanced Micro Devices has a consensus rating of “Moderate Buy” and an average target price of $158.70.

Insider Buying and Selling at Advanced Micro Devices

In related news, CEO Lisa T. Su sold 76,496 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total transaction of $10,912,919.36. Following the transaction, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at $508,834,266.92. This represents a 2.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Marcum Wealth LLC raised its holdings in shares of Advanced Micro Devices by 9.8% in the third quarter. Marcum Wealth LLC now owns 3,444 shares of the semiconductor manufacturer’s stock valued at $565,000 after purchasing an additional 307 shares during the last quarter. Cypress Wealth Services LLC purchased a new stake in shares of Advanced Micro Devices in the third quarter valued at about $210,000. UMB Bank n.a. raised its holdings in shares of Advanced Micro Devices by 3.2% in the third quarter. UMB Bank n.a. now owns 15,874 shares of the semiconductor manufacturer’s stock valued at $2,605,000 after purchasing an additional 490 shares during the last quarter. Pinnacle Bancorp Inc. raised its holdings in shares of Advanced Micro Devices by 27.1% in the third quarter. Pinnacle Bancorp Inc. now owns 745 shares of the semiconductor manufacturer’s stock valued at $122,000 after purchasing an additional 159 shares during the last quarter. Finally, Private Advisory Group LLC raised its holdings in shares of Advanced Micro Devices by 25.9% in the third quarter. Private Advisory Group LLC now owns 72,289 shares of the semiconductor manufacturer’s stock valued at $11,861,000 after purchasing an additional 14,854 shares during the last quarter. 71.34% of the stock is owned by institutional investors.

Advanced Micro Devices Stock Performance

The company’s fifty day moving average price is $124.01 and its 200 day moving average price is $140.18. The company has a market cap of $174.55 billion, a PE ratio of 96.90, a P/E/G ratio of 1.03 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, February 4th. The semiconductor manufacturer reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.19). Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. On average, equities research analysts predict 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.