Advanced Micro Devices (NASDAQ:AMD) Trading Down 3.6% After Analyst Downgrade

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares were down 3.6% on Thursday after StockNews.com downgraded the stock from a hold rating to a sell rating. The stock traded as low as $139.16 and last traded at $139.34. Approximately 21,161,254 shares were traded during trading, a decline of 67% from the average daily volume of 63,561,219 shares. The stock had previously closed at $144.48.

Several other research firms have also recently weighed in on AMD. Bank of America cut their price objective on Advanced Micro Devices from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Wednesday. HSBC raised shares of Advanced Micro Devices from a “hold” rating to a “buy” rating and increased their price target for the company from $180.00 to $225.00 in a report on Tuesday, April 16th. Mizuho reduced their price objective on Advanced Micro Devices from $235.00 to $215.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Susquehanna restated a “positive” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday. Finally, Cantor Fitzgerald reduced their price objective on shares of Advanced Micro Devices from $200.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $193.45.

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,756 shares of Advanced Micro Devices stock in a transaction on Monday, July 15th. The stock was sold at an average price of $184.50, for a total value of $3,091,482.00. Following the completion of the transaction, the executive vice president now directly owns 1,546,227 shares of the company’s stock, valued at approximately $285,278,881.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,200 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $158.94, for a total transaction of $2,574,828.00. Following the sale, the executive vice president now directly owns 1,546,227 shares of the company’s stock, valued at approximately $245,757,319.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark D. Papermaster sold 16,756 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $184.50, for a total transaction of $3,091,482.00. Following the sale, the executive vice president now directly owns 1,546,227 shares in the company, valued at approximately $285,278,881.50. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

Institutional investors have recently bought and sold shares of the stock. Cherrydale Wealth Management LLC raised its holdings in shares of Advanced Micro Devices by 4.7% in the 2nd quarter. Cherrydale Wealth Management LLC now owns 1,305 shares of the semiconductor manufacturer’s stock worth $212,000 after purchasing an additional 58 shares during the period. Addison Advisors LLC raised its stake in shares of Advanced Micro Devices by 41.9% in the fourth quarter. Addison Advisors LLC now owns 210 shares of the semiconductor manufacturer’s stock valued at $31,000 after buying an additional 62 shares during the period. Prentice Wealth Management LLC lifted its position in shares of Advanced Micro Devices by 1.6% during the 1st quarter. Prentice Wealth Management LLC now owns 3,938 shares of the semiconductor manufacturer’s stock valued at $711,000 after buying an additional 62 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in shares of Advanced Micro Devices by 0.9% during the 1st quarter. Revolve Wealth Partners LLC now owns 7,281 shares of the semiconductor manufacturer’s stock valued at $1,314,000 after buying an additional 63 shares during the last quarter. Finally, Delta Financial Group Inc. grew its stake in shares of Advanced Micro Devices by 5.0% during the 2nd quarter. Delta Financial Group Inc. now owns 1,325 shares of the semiconductor manufacturer’s stock worth $215,000 after acquiring an additional 63 shares during the period. Institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Trading Down 5.2 %

The company has a market cap of $221.37 billion, a PE ratio of 204.91, a price-to-earnings-growth ratio of 1.60 and a beta of 1.68. The company has a current ratio of 2.64, a quick ratio of 1.92 and a debt-to-equity ratio of 0.03. The firm has a fifty day moving average of $161.64 and a two-hundred day moving average of $168.10.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. The business had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.72 billion. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 6.00%. Advanced Micro Devices’s revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.40 EPS. As a group, sell-side analysts predict that Advanced Micro Devices, Inc. will post 2.6 EPS 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.