Advanced Micro Devices (NASDAQ:AMD) Shares Down 7.1% After Analyst Downgrade

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price was down 7.1% during mid-day trading on Thursday after TD Cowen lowered their price target on the stock from $135.00 to $110.00. TD Cowen currently has a buy rating on the stock. Advanced Micro Devices traded as low as $88.47 and last traded at $89.99. Approximately 16,370,155 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 43,393,743 shares. The stock had previously closed at $96.84.

Several other research analysts have also issued reports on AMD. StockNews.com lowered Advanced Micro Devices from a “hold” rating to a “sell” rating in a research report on Wednesday, March 26th. DZ Bank downgraded Advanced Micro Devices from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research report on Friday, February 7th. KeyCorp cut Advanced Micro Devices from an “overweight” rating to a “sector weight” rating in a report on Tuesday. Summit Insights upgraded shares of Advanced Micro Devices to a “hold” rating in a report on Tuesday, February 4th. Finally, Wells Fargo & Company reissued an “overweight” rating on shares of Advanced Micro Devices in a research note on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $151.34.

Insider Activity at Advanced Micro Devices

In related news, EVP Philip Guido acquired 4,645 shares of the stock in a transaction dated Friday, February 7th. The shares were purchased at an average price of $107.56 per share, for a total transaction of $499,616.20. Following the transaction, the executive vice president now owns 33,522 shares in the company, valued at $3,605,626.32. This represents a 16.09 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 0.73% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Advanced Micro Devices

A number of large investors have recently added to or reduced their stakes in the business. Howard Capital Management Group LLC lifted its stake in Advanced Micro Devices by 21.6% in the third quarter. Howard Capital Management Group LLC now owns 1,827 shares of the semiconductor manufacturer’s stock worth $300,000 after acquiring an additional 324 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Advanced Micro Devices by 30.2% during the third quarter. Principal Financial Group Inc. now owns 2,537,968 shares of the semiconductor manufacturer’s stock valued at $416,430,000 after buying an additional 588,595 shares during the last quarter. Financial Avengers Inc. increased its holdings in shares of Advanced Micro Devices by 24.5% in the 3rd quarter. Financial Avengers Inc. now owns 5,669 shares of the semiconductor manufacturer’s stock worth $930,000 after purchasing an additional 1,116 shares in the last quarter. TT International Asset Management LTD bought a new position in Advanced Micro Devices during the 3rd quarter valued at about $1,312,000. Finally, Empire Financial Management Company LLC purchased a new stake in Advanced Micro Devices in the third quarter worth approximately $346,000. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Stock Down 8.8 %

The company has a market cap of $142.74 billion, a P/E ratio of 89.50, a price-to-earnings-growth ratio of 1.11 and a beta of 1.89. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. The company has a fifty day moving average of $103.93 and a 200 day moving average of $126.77.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 earnings per share for the quarter, hitting the consensus estimate of $1.07. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. On average, research analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 earnings per share 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.