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

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price gapped down prior to trading on Wednesday after Citigroup lowered their price target on the stock from $192.00 to $176.00. The stock had previously closed at $158.38, but opened at $148.11. Citigroup currently has a buy rating on the stock. Advanced Micro Devices shares last traded at $148.20, with a volume of 17,871,333 shares traded.

AMD has been the subject of a number of other reports. TD Cowen upped their price target on shares of Advanced Micro Devices from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 target price on shares of Advanced Micro Devices in a research note on Wednesday. KeyCorp reduced their price target on Advanced Micro Devices from $270.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday. Melius Research raised shares of Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $188.00 price objective for the company in a research report on Monday, January 8th. Finally, StockNews.com cut shares of Advanced Micro Devices from a “hold” rating to a “sell” rating in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $182.62.

Insider Activity at Advanced Micro Devices

In related news, EVP Forrest Eugene Norrod sold 59,293 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $175.94, for a total transaction of $10,432,010.42. Following the transaction, the executive vice president now owns 258,690 shares in the company, valued at approximately $45,513,918.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Victor Peng sold 100,000 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $175.11, for a total transaction of $17,511,000.00. Following the transaction, the insider now directly owns 241,266 shares of the company’s stock, valued at $42,248,089.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Forrest Eugene Norrod sold 59,293 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $175.94, for a total value of $10,432,010.42. Following the completion of the transaction, the executive vice president now directly owns 258,690 shares of the company’s stock, valued at $45,513,918.60. The disclosure for this sale can be found here. Insiders have sold a total of 341,143 shares of company stock worth $62,580,844 in the last 90 days. Corporate insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

Institutional investors and hedge funds have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. raised its stake in Advanced Micro Devices by 9.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 600,310 shares of the semiconductor manufacturer’s stock valued at $61,724,000 after purchasing an additional 50,449 shares in the last quarter. Simon Quick Advisors LLC boosted its holdings in shares of Advanced Micro Devices by 16.2% in the 3rd quarter. Simon Quick Advisors LLC now owns 3,864 shares of the semiconductor manufacturer’s stock worth $397,000 after purchasing an additional 539 shares in the last quarter. Capital Advisors Inc. OK increased its position in shares of Advanced Micro Devices by 5.4% during the 3rd quarter. Capital Advisors Inc. OK now owns 3,262 shares of the semiconductor manufacturer’s stock valued at $335,000 after purchasing an additional 166 shares during the last quarter. Stratos Wealth Partners LTD. raised its holdings in shares of Advanced Micro Devices by 63.4% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 67,210 shares of the semiconductor manufacturer’s stock valued at $6,911,000 after buying an additional 26,081 shares in the last quarter. Finally, Stratos Wealth Advisors LLC lifted its position in Advanced Micro Devices by 53.4% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 10,683 shares of the semiconductor manufacturer’s stock worth $1,098,000 after buying an additional 3,719 shares during the last quarter. 71.34% of the stock is owned by institutional investors.

Advanced Micro Devices Stock Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 2.51 and a quick ratio of 1.86. The company has a 50 day simple moving average of $176.64 and a 200-day simple moving average of $151.54. The firm has a market cap of $233.16 billion, a PE ratio of 277.45, a price-to-earnings-growth ratio of 2.44 and a beta of 1.64.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.01. Advanced Micro Devices had a net margin of 3.77% and a return on equity of 5.73%. The business had revenue of $5.47 billion during the quarter, compared to the consensus estimate of $5.48 billion. During the same period in the previous year, the firm posted $0.43 earnings per share. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, equities research analysts anticipate that Advanced Micro Devices, Inc. will post 2.64 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.