Advanced Micro Devices, Inc. (NASDAQ:AMD – Get Free Report)’s stock price was down 3.6% during trading on Thursday after StockNews.com downgraded the stock from a hold rating to a sell rating. The stock traded as low as $139.16 and last traded at $139.34. Approximately 21,161,254 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 63,561,219 shares. The stock had previously closed at $144.48.
A number of other equities research analysts have also issued reports on the company. Cantor Fitzgerald cut their price target on Advanced Micro Devices from $200.00 to $180.00 and set an “overweight” rating for the company in a research note on Wednesday. Wells Fargo & Company increased their price target on Advanced Micro Devices from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Mizuho cut their price target on Advanced Micro Devices from $235.00 to $215.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Evercore ISI cut their price target on 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. Finally, HSBC upgraded Advanced Micro Devices from a “hold” rating to a “buy” rating and increased their price target for the stock from $180.00 to $225.00 in a research note on Tuesday, April 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $193.45.
Insiders Place Their Bets
In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,200 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $158.94, for a total value of $2,574,828.00. Following the completion of the sale, the executive vice president now owns 1,546,227 shares of the company’s stock, valued at $245,757,319.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Mark D. Papermaster sold 16,756 shares of Advanced Micro Devices stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $184.50, for a total transaction of $3,091,482.00. Following the completion of the sale, the executive vice president now owns 1,546,227 shares of the company’s stock, valued at $285,278,881.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark D. Papermaster sold 16,200 shares of Advanced Micro Devices stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $158.94, for a total transaction of $2,574,828.00. Following the sale, the executive vice president now directly owns 1,546,227 shares of the company’s stock, valued at approximately $245,757,319.38. The disclosure for this sale can be found here. 0.73% of the stock is owned by insiders.
Institutional Trading of Advanced Micro Devices
Several institutional investors and hedge funds have recently modified their holdings of AMD. Vanguard Group Inc. raised its stake in Advanced Micro Devices by 1.6% in the first quarter. Vanguard Group Inc. now owns 144,794,666 shares of the semiconductor manufacturer’s stock worth $26,133,989,000 after buying an additional 2,349,288 shares in the last quarter. Fisher Asset Management LLC raised its stake in Advanced Micro Devices by 2.2% in the fourth quarter. Fisher Asset Management LLC now owns 28,368,826 shares of the semiconductor manufacturer’s stock worth $4,181,849,000 after buying an additional 600,638 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Advanced Micro Devices by 10.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,675,684 shares of the semiconductor manufacturer’s stock worth $4,079,674,000 after buying an additional 2,553,392 shares in the last quarter. Jennison Associates LLC raised its stake in Advanced Micro Devices by 5.9% in the fourth quarter. Jennison Associates LLC now owns 26,886,280 shares of the semiconductor manufacturer’s stock worth $3,963,307,000 after buying an additional 1,490,997 shares in the last quarter. Finally, Norges Bank bought a new position in Advanced Micro Devices in the fourth quarter worth approximately $3,426,529,000. Institutional investors own 71.34% of the company’s stock.
Advanced Micro Devices Stock Down 8.3 %
The company has a market cap of $214.23 billion, a P/E ratio of 193.14, a P/E/G ratio of 1.60 and a beta of 1.68. The company has a quick ratio of 1.92, a current ratio of 2.64 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average is $161.64 and its 200 day moving average is $168.10.
Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. The company had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.72 billion. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 6.00%. Advanced Micro Devices’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.40 earnings per share. As a group, equities analysts anticipate that Advanced Micro Devices, Inc. will post 2.6 earnings per share for the current fiscal year.
About Advanced Micro Devices
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.