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

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price fell 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. 27,582,787 shares were traded during trading, a decline of 28% from the average session volume of 38,317,762 shares. The stock had previously closed at $121.84.

Several other research analysts have also weighed in on the stock. Piper Sandler reiterated an “overweight” rating and issued a $180.00 price objective (down previously from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. HSBC reissued a “reduce” rating and set a $110.00 price objective (down previously from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday. TD Cowen cut their price target 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. Bank of America lowered Advanced Micro Devices from a “buy” rating to a “neutral” rating and reduced their price target for the company from $180.00 to $155.00 in a report on Monday, December 9th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $180.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus 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 the company’s stock in a transaction dated 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 sale, the executive vice president now owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. This represents 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 76,496 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 3,566,762 shares in the company, valued at approximately $508,834,266.92. This trade represents a 2.10 % 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 over the last ninety days. 0.65% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its holdings in Advanced Micro Devices by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,656,965 shares of the semiconductor manufacturer’s stock worth $1,584,515,000 after purchasing an additional 177,700 shares during the last quarter. Swiss National Bank boosted its stake in Advanced Micro Devices by 0.3% in the third quarter. Swiss National Bank now owns 4,797,575 shares of the semiconductor manufacturer’s stock valued at $787,186,000 after acquiring an additional 12,500 shares during the last quarter. Shum Financial Group Inc. acquired a new stake in Advanced Micro Devices during the 3rd quarter worth $858,000. State Street Corp boosted its position in shares of Advanced Micro Devices by 2.3% in the 3rd quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after purchasing an additional 1,580,035 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Advanced Micro Devices by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock valued at $5,597,337,000 after acquiring an additional 441,924 shares during the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

Advanced Micro Devices Price Performance

The stock has a market cap of $186.90 billion, a P/E ratio of 103.76, a P/E/G ratio of 1.88 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. The company’s 50 day simple moving average is $133.09 and its 200 day simple moving average is $147.05.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, hitting the consensus estimate of $0.92. The firm had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.71 billion. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The company’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 earnings per share. As a group, equities analysts forecast that Advanced Micro Devices, Inc. will post 2.54 earnings per share 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.