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

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares traded down 9% 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. 36,661,192 shares were traded during trading, a decline of 49% from the average session volume of 71,790,758 shares. The stock had previously closed at $158.38.

Several other analysts have also commented on AMD. JPMorgan Chase & Co. lifted their price objective on shares of Advanced Micro Devices from $115.00 to $180.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 31st. New Street Research upgraded shares of Advanced Micro Devices from a “neutral” rating to a “buy” rating and set a $215.00 target price for the company in a research note on Wednesday, January 24th. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 target price on shares of Advanced Micro Devices in a research note on Wednesday. Northland Securities upgraded shares of Advanced Micro Devices from a “market perform” rating to an “outperform” rating and set a $195.00 target price for the company in a research note on Wednesday, January 31st. Finally, Susquehanna reduced their target price on shares of Advanced Micro Devices from $200.00 to $185.00 and set a “positive” rating for the company in a research note on Monday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $182.62.

Insider Activity

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 shares were sold at an average price of $188.66, for a total transaction 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 approximately $794,069.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Advanced Micro Devices news, insider Victor Peng sold 100,000 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $175.11, for a total transaction of $17,511,000.00. Following the completion of the sale, the insider now owns 241,266 shares of the company’s stock, valued at approximately $42,248,089.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Darla M. Smith sold 1,678 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $188.66, for a total transaction of $316,571.48. Following the sale, 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. In the last 90 days, insiders sold 341,143 shares of company stock valued at $62,580,844. Corporate insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Tanager Wealth Management LLP bought a new position in Advanced Micro Devices in the 1st quarter worth $247,000. Schear Investment Advisers LLC raised its holdings in Advanced Micro Devices by 2.5% in the 1st quarter. Schear Investment Advisers LLC now owns 16,160 shares of the semiconductor manufacturer’s stock worth $2,917,000 after purchasing an additional 398 shares in the last quarter. Resonant Capital Advisors LLC raised its holdings in Advanced Micro Devices by 11.6% in the 1st quarter. Resonant Capital Advisors LLC now owns 5,436 shares of the semiconductor manufacturer’s stock worth $981,000 after purchasing an additional 566 shares in the last quarter. KFA Private Wealth Group LLC raised its holdings in Advanced Micro Devices by 6.6% in the 1st quarter. KFA Private Wealth Group LLC now owns 3,376 shares of the semiconductor manufacturer’s stock worth $609,000 after purchasing an additional 210 shares in the last quarter. Finally, Precision Wealth Strategies LLC raised its holdings in Advanced Micro Devices by 16.4% in the 1st quarter. Precision Wealth Strategies LLC now owns 4,726 shares of the semiconductor manufacturer’s stock worth $853,000 after purchasing an additional 666 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors.

Advanced Micro Devices Stock Down 8.9 %

The company has a current ratio of 2.51, a quick ratio of 1.86 and a debt-to-equity ratio of 0.03. The firm 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 company’s fifty day simple moving average is $176.64 and its 200 day simple moving average is $151.54.

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