Advanced Micro Devices (NASDAQ:AMD) Stock Price Down 0.2% on Analyst Downgrade

Advanced Micro Devices, Inc. (NASDAQ:AMD) was down 0.2% on Thursday after Benchmark lowered their price target on the stock from $245.00 to $200.00. Benchmark currently has a buy rating on the stock. Advanced Micro Devices traded as low as $141.16 and last traded at $143.95. Approximately 22,294,568 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 71,857,984 shares. The stock had previously closed at $144.27.

A number of other equities research analysts also recently issued reports on the company. DZ Bank reissued a “hold” rating and set a $200.00 price target on shares of Advanced Micro Devices in a research report on Thursday, March 7th. Barclays boosted their price target on Advanced Micro Devices from $200.00 to $235.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. Citigroup lowered their price target on Advanced Micro Devices from $192.00 to $176.00 and set a “buy” rating for the company in a research report on Wednesday. Truist Financial lowered their price target on Advanced Micro Devices from $174.00 to $162.00 and set a “hold” rating for the company in a research report on Wednesday. Finally, Mizuho decreased their target price on Advanced Micro Devices from $235.00 to $215.00 and set a “buy” rating for the company in a research report on Wednesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-six have issued a buy rating to the company. Based on data from MarketBeat.com, Advanced Micro Devices has a consensus rating of “Moderate Buy” and an average price target of $184.24.

Insider Buying and Selling

In related news, CAO Darla M. Smith sold 1,678 shares of the stock in a transaction that occurred on 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 transaction, the chief accounting officer now directly owns 4,209 shares of the company’s stock, valued at approximately $794,069.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Advanced Micro Devices news, CAO Darla M. Smith sold 1,678 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $188.66, for a total transaction of $316,571.48. Following the completion of the transaction, the chief accounting officer now directly owns 4,209 shares of the company’s stock, valued at approximately $794,069.94. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mark D. Papermaster sold 16,200 shares of Advanced Micro Devices stock in a transaction on Monday, April 15th. The shares were sold at an average price of $164.25, for a total value of $2,660,850.00. Following the transaction, the executive vice president now owns 1,554,602 shares in the company, valued at $255,343,378.50. The disclosure for this sale can be found here. Insiders sold 181,850 shares of company stock valued at $34,637,833 in the last three months. 0.73% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Advanced Micro Devices

Hedge funds have recently modified their holdings of the stock. Chase Investment Counsel Corp grew its holdings in shares of Advanced Micro Devices by 0.7% in the 4th quarter. Chase Investment Counsel Corp now owns 12,025 shares of the semiconductor manufacturer’s stock worth $1,772,000 after acquiring an additional 87 shares during the last quarter. Washburn Capital Management Inc. acquired a new stake in shares of Advanced Micro Devices in the fourth quarter worth $231,000. Pathway Financial Advisors LLC acquired a new stake in shares of Advanced Micro Devices in the fourth quarter worth $229,000. Independence Bank of Kentucky boosted its position in shares of Advanced Micro Devices by 84.1% in the fourth quarter. Independence Bank of Kentucky now owns 3,671 shares of the semiconductor manufacturer’s stock worth $541,000 after buying an additional 1,677 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in shares of Advanced Micro Devices in the fourth quarter worth $1,759,000. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Advanced Micro Devices Trading Up 3.0 %

The firm has a market cap of $243.39 billion, a price-to-earnings ratio of 221.47, a PEG ratio of 2.19 and a beta of 1.66. The company has a 50-day moving average price of $175.93 and a 200 day moving average price of $151.50. The company has a quick ratio of 1.86, a current ratio of 2.64 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 EPS for the quarter, topping the consensus estimate of $0.61 by $0.01. The business had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.48 billion. Advanced Micro Devices had a return on equity of 5.72% and a net margin of 4.89%. Advanced Micro Devices’s revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.43 earnings per share. As a group, research analysts anticipate 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.