Advanced Micro Devices (NASDAQ:AMD) Shares Down 0.2% Following Analyst Downgrade

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) were down 0.2% during trading 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.

Several other research firms also recently commented on AMD. Morgan Stanley decreased their price target on shares of Advanced Micro Devices from $193.00 to $177.00 and set an “overweight” rating on the stock in a research note on Monday. StockNews.com downgraded shares of Advanced Micro Devices from a “hold” rating to a “sell” rating in a research note on Thursday, April 25th. DZ Bank reaffirmed a “hold” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research note on Thursday, March 7th. Citigroup decreased their target price on shares of Advanced Micro Devices from $192.00 to $176.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Roth Mkm decreased their target price on shares of Advanced Micro Devices from $190.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $184.24.

Insider Transactions at Advanced Micro Devices

In other news, CAO Darla M. Smith sold 1,678 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $188.66, for a total value of $316,571.48. Following the transaction, the chief accounting officer now owns 4,209 shares in the company, valued at approximately $794,069.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Advanced Micro Devices news, Director Joseph A. Householder sold 6,572 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $208.08, for a total transaction of $1,367,501.76. Following the sale, the director now owns 2,197 shares in the company, valued at approximately $457,151.76. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Darla M. Smith sold 1,678 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 4,209 shares in the company, valued at approximately $794,069.94. The disclosure for this sale can be found here. Insiders have sold 341,143 shares of company stock worth $62,580,844 in the last quarter. Company insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

Institutional investors have recently added to or reduced their stakes in the stock. Lincoln National Corp grew its holdings in shares of Advanced Micro Devices by 30.3% in the first quarter. Lincoln National Corp now owns 26,743 shares of the semiconductor manufacturer’s stock valued at $4,827,000 after purchasing an additional 6,226 shares in the last quarter. Almanack Investment Partners LLC. grew its holdings in shares of Advanced Micro Devices by 2.3% in the first quarter. Almanack Investment Partners LLC. now owns 6,192 shares of the semiconductor manufacturer’s stock valued at $1,118,000 after purchasing an additional 137 shares in the last quarter. BNP Paribas purchased a new position in shares of Advanced Micro Devices in the first quarter valued at $27,760,000. Tobam grew its holdings in shares of Advanced Micro Devices by 112.3% in the first quarter. Tobam now owns 7,153 shares of the semiconductor manufacturer’s stock valued at $1,291,000 after purchasing an additional 3,784 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Advanced Micro Devices by 10.7% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 100,780 shares of the semiconductor manufacturer’s stock valued at $18,190,000 after purchasing an additional 9,701 shares in the last quarter. 71.34% of the stock is owned by hedge funds and other institutional investors.

Advanced Micro Devices Price Performance

The company has a quick ratio of 1.86, a current ratio of 2.51 and a debt-to-equity ratio of 0.03. The firm’s 50 day simple moving average is $176.64 and its 200 day simple moving average is $151.54. The company has a market capitalization of $232.97 billion, a PE ratio of 211.69, a price-to-earnings-growth ratio of 2.41 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 earnings per share 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 the consensus estimate of $5.48 billion. Advanced Micro Devices had a return on equity of 5.74% and a net margin of 4.89%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the company earned $0.43 earnings per share. As a group, research analysts anticipate that Advanced Micro Devices, Inc. will post 2.64 EPS 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.