Advanced Micro Devices (NASDAQ:AMD) Shares Down 1.4% Following Analyst Downgrade

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report) were down 1.4% during trading on Tuesday after KeyCorp lowered their price target on the stock from $220.00 to $150.00. KeyCorp currently has an overweight rating on the stock. Advanced Micro Devices traded as low as $115.50 and last traded at $115.65. Approximately 13,605,598 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 39,382,988 shares. The stock had previously closed at $117.32.

AMD has been the subject of several other reports. StockNews.com lowered Advanced Micro Devices from a "hold" rating to a "sell" rating in a report on Tuesday. HSBC reissued a "reduce" rating and issued a $110.00 price objective (down previously from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, January 8th. Barclays dropped their price objective on shares of Advanced Micro Devices from $180.00 to $170.00 and set an "overweight" rating on the stock in a report on Wednesday, October 30th. Rosenblatt Securities reissued a "buy" rating and issued a $250.00 price target on shares of Advanced Micro Devices in a research report on Monday, October 28th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $180.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $179.68.

Insider Buying and Selling

In related news, CEO Lisa T. Su sold 76,496 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total value of $10,912,919.36. Following the completion of the transaction, the chief executive officer now directly owns 3,566,762 shares of the company's stock, valued at $508,834,266.92. This represents a 2.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Forrest Eugene Norrod sold 40,540 shares of Advanced Micro Devices stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total value of $5,743,301.80. Following the sale, the executive vice president now directly owns 293,347 shares in the company, valued at approximately $41,558,469.49. The trade was 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 over the last ninety days. 0.73% of the stock is owned by insiders.

Institutional Trading of Advanced Micro Devices

A number of hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp increased its holdings in shares of Advanced Micro Devices by 2.3% during the third quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer's stock valued at $11,513,538,000 after acquiring an additional 1,580,035 shares in the last quarter. Geode Capital Management LLC increased its stake in Advanced Micro Devices by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer's stock valued at $5,597,337,000 after purchasing an additional 441,924 shares in the last quarter. Fisher Asset Management LLC raised its holdings in Advanced Micro Devices by 2.8% in the third quarter. Fisher Asset Management LLC now owns 23,795,236 shares of the semiconductor manufacturer's stock worth $3,904,323,000 after buying an additional 644,039 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Advanced Micro Devices by 8.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,472,211 shares of the semiconductor manufacturer's stock valued at $3,195,000,000 after buying an additional 1,565,083 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of Advanced Micro Devices by 1.4% during the second quarter. Legal & General Group Plc now owns 13,310,158 shares of the semiconductor manufacturer's stock valued at $2,159,039,000 after acquiring an additional 188,580 shares in the last quarter. 71.34% of the stock is owned by hedge funds and other institutional investors.

Advanced Micro Devices Stock Performance

The company has a market capitalization of $188.39 billion, a PE ratio of 104.59, 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's fifty day moving average is $132.11 and its two-hundred day moving average is $146.27.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, hitting the consensus estimate of $0.92. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The firm had revenue of $6.82 billion during the quarter, compared to analysts' expectations of $6.71 billion. During the same quarter in the previous year, the business earned $0.53 earnings per share. The company's revenue was up 17.6% on a year-over-year basis. Equities research analysts predict that Advanced Micro Devices, Inc. will post 2.54 earnings per share 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.