Advanced Micro Devices (NASDAQ:AMD) Trading Down 1% on Analyst Downgrade

Advanced Micro Devices, Inc. (NASDAQ:AMDGet Free Report)’s share price traded down 1% 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 were traded 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 research firms also recently weighed in on AMD. Benchmark decreased their target price on shares of Advanced Micro Devices from $245.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, May 1st. Wedbush reiterated an “outperform” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, May 1st. 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. Finally, Evercore ISI dropped their price objective on shares of Advanced Micro Devices from $200.00 to $193.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to MarketBeat, Advanced Micro Devices presently has an average rating of “Moderate Buy” and a consensus target price of $190.50.

Get Our Latest Research Report on AMD

Insider Transactions at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 16,200 shares of the business’s stock in a transaction that occurred 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 approximately $255,343,378.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of AMD. Trust Co. of Vermont lifted its position in shares of Advanced Micro Devices by 26.5% during the 3rd quarter. Trust Co. of Vermont now owns 3,101 shares of the semiconductor manufacturer’s stock valued at $319,000 after acquiring an additional 650 shares during the period. Bar Harbor Wealth Management increased its stake in Advanced Micro Devices by 126.9% during the 3rd quarter. Bar Harbor Wealth Management now owns 11,501 shares of the semiconductor manufacturer’s stock valued at $1,183,000 after purchasing an additional 6,433 shares in the last quarter. Raleigh Capital Management Inc. increased its stake in Advanced Micro Devices by 54.8% during the 3rd quarter. Raleigh Capital Management Inc. now owns 308 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 109 shares in the last quarter. Hudson Bay Capital Management LP bought a new stake in Advanced Micro Devices during the 3rd quarter valued at $82,256,000. Finally, Sylebra Capital LLC bought a new stake in Advanced Micro Devices during the 3rd quarter valued at $227,566,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

Advanced Micro Devices Stock Up 3.9 %

The firm has a market cap of $297.34 billion, a P/E ratio of 270.53, a price-to-earnings-growth ratio of 2.07 and a beta of 1.68. The stock’s 50 day simple moving average is $161.81 and its 200 day simple moving average is $166.82. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.92 and a current ratio of 2.64.

Advanced Micro Devices (NASDAQ:AMDGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. The business had revenue of $5.47 billion during the quarter, compared to analyst estimates of $5.48 billion. Advanced Micro Devices had a net margin of 4.89% and a return on equity of 5.72%. Advanced Micro Devices’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.43 EPS. Research analysts anticipate that Advanced Micro Devices, Inc. will post 2.61 EPS for the current year.

Advanced Micro Devices Company Profile

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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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