Advanced Micro Devices (NASDAQ:AMD) Stock Price Down 5.1% After Analyst Downgrade

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report) traded down 5.1% during trading on Friday after Mizuho lowered their price target on the stock from $180.00 to $160.00. Mizuho currently has an outperform rating on the stock. Advanced Micro Devices traded as low as $114.45 and last traded at $115.65. 27,582,787 shares traded hands during mid-day trading, a decline of 28% from the average session volume of 38,317,762 shares. The stock had previously closed at $121.84.

Several other brokerages have also recently weighed in on AMD. Bank of America cut shares of Advanced Micro Devices from a "buy" rating to a "neutral" rating and reduced their target price for the company from $180.00 to $155.00 in a report on Monday, December 9th. Piper Sandler reissued an "overweight" rating and issued a $180.00 target price (down previously from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, October 30th. TD Cowen decreased their price target on Advanced Micro Devices from $210.00 to $185.00 and set a "buy" rating for the company in a report on Wednesday, October 30th. Morgan Stanley cut their target price on Advanced Micro Devices from $169.00 to $158.00 and set an "equal weight" rating on the stock in a research report on Friday, December 20th. Finally, Benchmark reissued a "buy" rating and set a $200.00 price objective on shares of Advanced Micro Devices in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Advanced Micro Devices currently has an average rating of "Moderate Buy" and an average target price of $185.22.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, CEO Lisa T. Su sold 80,000 shares of the firm's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the completion of the transaction, the chief executive officer now directly owns 3,566,762 shares in the company, valued at approximately $513,150,048.94. This trade represents a 2.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the firm's stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the transaction, the executive vice president now directly owns 293,347 shares of the company's stock, valued at approximately $41,558,469.49. This trade represents a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 197,036 shares of company stock valued at $28,165,821 in the last quarter. 0.65% of the stock is currently owned by corporate insiders.

Institutional Trading of Advanced Micro Devices

A number of large investors have recently made changes to their positions in the stock. Creative Capital Management Investments LLC lifted its holdings in Advanced Micro Devices by 124.6% in the 3rd quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer's stock valued at $25,000 after purchasing an additional 86 shares in the last quarter. ZRC Wealth Management LLC raised its position in shares of Advanced Micro Devices by 90.4% in the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer's stock valued at $26,000 after buying an additional 75 shares during the last quarter. Global Wealth Strategies & Associates purchased a new position in shares of Advanced Micro Devices during the fourth quarter valued at approximately $26,000. Fairway Wealth LLC purchased a new stake in Advanced Micro Devices in the 2nd quarter worth approximately $27,000. Finally, Abich Financial Wealth Management LLC raised its holdings in Advanced Micro Devices by 101.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 220 shares of the semiconductor manufacturer's stock valued at $36,000 after acquiring an additional 111 shares during the last quarter. Institutional investors and hedge funds own 71.34% of the company's stock.

Advanced Micro Devices Trading Down 4.8 %

The company has a market cap of $188.31 billion, a PE ratio of 104.54, a price-to-earnings-growth ratio of 1.88 and a beta of 1.66. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. The business has a 50 day simple moving average of $133.09 and a two-hundred day simple moving average of $147.05.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.92. The firm had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.71 billion. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The firm's quarterly revenue was up 17.6% on a year-over-year basis. During the same period last year, the company earned $0.53 EPS. On average, analysts forecast that Advanced Micro Devices, Inc. will post 2.54 EPS for the current fiscal year.

About Advanced Micro Devices

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.