Advanced Micro Devices (NASDAQ:AMD) Trading Down 7.1% After Analyst Downgrade

Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report)'s share price was down 7.1% on Thursday after Citigroup lowered their price target on the stock from $110.00 to $100.00. Citigroup currently has a neutral rating on the stock. Advanced Micro Devices traded as low as $88.47 and last traded at $89.99. Approximately 16,370,155 shares traded hands during trading, a decline of 62% from the average daily volume of 43,393,743 shares. The stock had previously closed at $96.84.

Several other equities research analysts have also commented on AMD. Piper Sandler restated an "overweight" rating on shares of Advanced Micro Devices in a research note on Wednesday, February 19th. Wolfe Research downgraded Advanced Micro Devices from an "outperform" rating to a "peer perform" rating in a research note on Thursday, January 16th. Stifel Nicolaus decreased their price target on Advanced Micro Devices from $200.00 to $162.00 and set a "buy" rating for the company in a research note on Wednesday, February 5th. DZ Bank cut shares of Advanced Micro Devices from a "buy" rating to a "hold" rating and set a $120.00 price objective on the stock. in a research note on Friday, February 7th. Finally, Hsbc Global Res lowered shares of Advanced Micro Devices from a "strong-buy" rating to a "moderate sell" rating in a research report on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, Advanced Micro Devices currently has a consensus rating of "Moderate Buy" and an average target price of $148.76.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Philip Guido purchased 4,645 shares of the company's stock in a transaction dated Friday, February 7th. The shares were bought at an average price of $107.56 per share, for a total transaction of $499,616.20. Following the purchase, the executive vice president now directly owns 33,522 shares in the company, valued at $3,605,626.32. This trade represents a 16.09 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.73% of the company's stock.

Hedge Funds Weigh In On Advanced Micro Devices

Several hedge funds have recently bought and sold shares of the business. Segment Wealth Management LLC increased its holdings in shares of Advanced Micro Devices by 0.5% during the 4th quarter. Segment Wealth Management LLC now owns 16,038 shares of the semiconductor manufacturer's stock valued at $1,937,000 after acquiring an additional 87 shares during the last quarter. Breakwater Capital Group boosted its position in Advanced Micro Devices by 5.2% during the fourth quarter. Breakwater Capital Group now owns 1,767 shares of the semiconductor manufacturer's stock worth $213,000 after purchasing an additional 88 shares during the period. Koshinski Asset Management Inc. grew its holdings in Advanced Micro Devices by 1.9% during the fourth quarter. Koshinski Asset Management Inc. now owns 4,762 shares of the semiconductor manufacturer's stock valued at $575,000 after purchasing an additional 91 shares during the last quarter. TFG Advisers LLC raised its position in shares of Advanced Micro Devices by 2.0% in the fourth quarter. TFG Advisers LLC now owns 4,741 shares of the semiconductor manufacturer's stock valued at $573,000 after purchasing an additional 92 shares during the period. Finally, BSW Wealth Partners lifted its stake in shares of Advanced Micro Devices by 1.1% in the fourth quarter. BSW Wealth Partners now owns 8,843 shares of the semiconductor manufacturer's stock worth $1,068,000 after buying an additional 94 shares during the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

Advanced Micro Devices Trading Up 1.3 %

The company's fifty day moving average is $102.89 and its 200-day moving average is $125.52. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $152.98 billion, a P/E ratio of 95.61, a P/E/G ratio of 1.11 and a beta of 1.89.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.07. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. As a group, sell-side analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 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.