Advanced Micro Devices (NASDAQ:AMD) Stock Price Down 9% on Analyst Downgrade

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares were down 9% during trading on Wednesday after Citigroup lowered their price target on the stock from $192.00 to $176.00. Citigroup currently has a buy rating on the stock. Advanced Micro Devices traded as low as $144.08 and last traded at $144.11. Approximately 36,661,192 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 71,790,758 shares. The stock had previously closed at $158.38.

A number of other research firms also recently commented on AMD. DZ Bank reissued a “hold” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a research note on Thursday, March 7th. StockNews.com downgraded Advanced Micro Devices from a “hold” rating to a “sell” rating in a research note on Thursday, April 25th. Piper Sandler reaffirmed an “overweight” rating and set a $175.00 target price (down from $195.00) on shares of Advanced Micro Devices in a research report on Wednesday. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 target price on shares of Advanced Micro Devices in a research report on Wednesday. Finally, Wells Fargo & Company boosted their target price on Advanced Micro Devices from $165.00 to $190.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $182.62.

Insiders Place Their Bets

In other Advanced Micro Devices news, CAO Darla M. Smith sold 1,678 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $188.66, for a total value of $316,571.48. Following the completion of the sale, the chief accounting officer now owns 4,209 shares of the company’s stock, valued at $794,069.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Lisa T. Su sold 125,000 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $195.13, for a total transaction of $24,391,250.00. Following the completion of the transaction, the chief executive officer now owns 3,222,230 shares of the company’s stock, valued at approximately $628,753,739.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Darla M. Smith sold 1,678 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $188.66, for a total value of $316,571.48. Following the transaction, the chief accounting officer now directly owns 4,209 shares of the company’s stock, valued at approximately $794,069.94. The disclosure for this sale can be found here. Insiders sold 341,143 shares of company stock valued at $62,580,844 over the last quarter. Insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Advanced Micro Devices by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 142,445,378 shares of the semiconductor manufacturer’s stock valued at $20,997,873,000 after acquiring an additional 2,390,558 shares in the last quarter. Fisher Asset Management LLC raised its holdings in Advanced Micro Devices by 2.2% in the 4th quarter. Fisher Asset Management LLC now owns 28,368,826 shares of the semiconductor manufacturer’s stock valued at $4,181,849,000 after acquiring an additional 600,638 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Advanced Micro Devices by 10.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,675,684 shares of the semiconductor manufacturer’s stock valued at $4,079,674,000 after acquiring an additional 2,553,392 shares in the last quarter. Jennison Associates LLC raised its holdings in Advanced Micro Devices by 5.9% in the 4th quarter. Jennison Associates LLC now owns 26,886,280 shares of the semiconductor manufacturer’s stock valued at $3,963,307,000 after acquiring an additional 1,490,997 shares in the last quarter. Finally, Norges Bank acquired a new position in Advanced Micro Devices in the 4th quarter valued at approximately $3,426,529,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

Advanced Micro Devices Stock Performance

The company has a market capitalization of $233.16 billion, a P/E ratio of 277.45, a price-to-earnings-growth ratio of 2.44 and a beta of 1.64. The firm has a 50 day moving average price of $176.64 and a two-hundred day moving average price of $151.54. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.86 and a current ratio of 2.51.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.01. Advanced Micro Devices had a return on equity of 5.73% and a net margin of 3.77%. The company had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.48 billion. During the same period in the prior year, the company posted $0.43 EPS. The company’s revenue was up 2.2% compared to the same quarter last year. On average, research analysts expect that Advanced Micro Devices, Inc. will post 2.64 earnings per share for the current fiscal 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.