Advanced Micro Devices (NASDAQ:AMD) Shares Down 1% After Analyst Downgrade

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMDGet Free Report) fell 1% during trading on Tuesday after KeyCorp lowered their price target on the stock from $230.00 to $220.00. KeyCorp currently has an overweight rating on the stock. Advanced Micro Devices traded as low as $174.70 and last traded at $176.95. 21,734,559 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 64,291,820 shares. The stock had previously closed at $178.69.

A number of other brokerages have also weighed in on AMD. DZ Bank upgraded shares of Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $190.00 target price for the company in a research note on Tuesday, May 7th. StockNews.com lowered Advanced Micro Devices from a “hold” rating to a “sell” rating in a report on Saturday, June 15th. Roth Mkm dropped their target price on Advanced Micro Devices from $190.00 to $180.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, May 1st. Finally, Mizuho dropped their price objective on shares of Advanced Micro Devices from $235.00 to $215.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. One investment 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $190.50.

Read Our Latest Report on Advanced Micro Devices

Insider Buying and Selling at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 16,200 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $158.94, for a total value of $2,574,828.00. Following the sale, the executive vice president now directly owns 1,546,227 shares in the company, valued at $245,757,319.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.65% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Advanced Micro Devices

Several large investors have recently bought and sold shares of the business. Chase Investment Counsel Corp lifted its position in Advanced Micro Devices by 0.7% in the fourth quarter. Chase Investment Counsel Corp now owns 12,025 shares of the semiconductor manufacturer’s stock worth $1,772,000 after buying an additional 87 shares during the last quarter. Washburn Capital Management Inc. bought a new stake in shares of Advanced Micro Devices in the 4th quarter worth about $231,000. Pathway Financial Advisors LLC purchased a new position in shares of Advanced Micro Devices during the 4th quarter worth about $229,000. Independence Bank of Kentucky grew its holdings in Advanced Micro Devices by 84.1% during the 4th quarter. Independence Bank of Kentucky now owns 3,671 shares of the semiconductor manufacturer’s stock valued at $541,000 after purchasing an additional 1,677 shares during the last quarter. Finally, Fortis Capital Advisors LLC raised its position in Advanced Micro Devices by 137.8% in the 4th quarter. Fortis Capital Advisors LLC now owns 12,485 shares of the semiconductor manufacturer’s stock worth $1,840,000 after purchasing an additional 7,235 shares during the period. Institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Trading Down 0.9 %

The company’s 50 day simple moving average is $161.02 and its 200-day simple moving average is $166.69. The firm has a market cap of $286.25 billion, a P/E ratio of 260.44, a P/E/G ratio of 1.99 and a beta of 1.68. The company has a quick ratio of 1.92, a current ratio of 2.64 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMDGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. Advanced Micro Devices had a return on equity of 5.72% and a net margin of 4.89%. The firm had revenue of $5.47 billion during the quarter, compared to analyst estimates of $5.48 billion. During the same period last year, the company earned $0.43 EPS. Advanced Micro Devices’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, research analysts predict that Advanced Micro Devices, Inc. will post 2.61 earnings per share for the current fiscal year.

Advanced Micro Devices Company Profile

(Get Free Report)

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.

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