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

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price fell 1.9% during mid-day trading on Thursday after Mizuho lowered their price target on the stock from $160.00 to $140.00. Mizuho currently has an outperform rating on the stock. Advanced Micro Devices traded as low as $109.02 and last traded at $109.94. 19,423,878 shares traded hands during trading, a decline of 54% from the average session volume of 42,099,637 shares. The stock had previously closed at $112.01.

A number of other brokerages have also recently weighed in on AMD. Barclays decreased their price objective on Advanced Micro Devices from $170.00 to $140.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Rosenblatt Securities restated a “buy” rating and issued a $250.00 price objective on shares of Advanced Micro Devices in a report on Tuesday. StockNews.com lowered shares of Advanced Micro Devices from a “hold” rating to a “sell” rating in a report on Tuesday, January 14th. Roth Mkm reissued a “buy” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a research note on Friday, October 11th. Finally, Piper Sandler reduced their price objective on Advanced Micro Devices from $180.00 to $140.00 and set an “overweight” rating on the stock in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Advanced Micro Devices has an average rating of “Moderate Buy” and an average price target of $161.30.

Insider Buying and Selling at Advanced Micro Devices

In related news, CEO Lisa T. Su sold 76,496 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $142.66, for a total value of $10,912,919.36. Following the sale, the chief executive officer now owns 3,566,762 shares in the company, valued at $508,834,266.92. This represents a 2.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

A number of hedge funds have recently added to or reduced their stakes in the company. State Street Corp increased its holdings in Advanced Micro Devices by 2.3% during the third quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock valued at $11,513,538,000 after buying an additional 1,580,035 shares during the last quarter. 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 worth $5,597,337,000 after purchasing an additional 441,924 shares in the last quarter. Fisher Asset Management LLC raised its holdings in Advanced Micro Devices by 1.2% in the 4th quarter. Fisher Asset Management LLC now owns 24,086,020 shares of the semiconductor manufacturer’s stock worth $2,909,350,000 after purchasing an additional 290,784 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Advanced Micro Devices by 8.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,472,211 shares of the semiconductor manufacturer’s stock valued at $3,195,000,000 after purchasing an additional 1,565,083 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in Advanced Micro Devices by 23.3% during the fourth quarter. Van ECK Associates Corp now owns 11,859,744 shares of the semiconductor manufacturer’s stock valued at $1,432,538,000 after purchasing an additional 2,238,866 shares during the period. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Micro Devices Stock Performance

The business has a 50-day simple moving average of $124.53 and a 200 day simple moving average of $140.39. 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 firm has a market cap of $178.42 billion, a PE ratio of 99.04, a PEG ratio of 1.03 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.19). Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. Equities research analysts forecast that Advanced Micro Devices, Inc. will post 2.54 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.