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

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price fell 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. 16,370,155 shares were traded during trading, a decline of 62% from the average session volume of 43,393,743 shares. The stock had previously closed at $96.84.

A number of other equities analysts have also commented on AMD. Wells Fargo & Company reissued an “overweight” rating on shares of Advanced Micro Devices in a research note on Wednesday, February 19th. Morgan Stanley set a $137.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, February 5th. Melius Research restated a “hold” rating and set a $129.00 target price (down from $160.00) on shares of Advanced Micro Devices in a research report on Tuesday, January 28th. Roth Capital set a $140.00 price target on Advanced Micro Devices in a research report on Wednesday, February 5th. Finally, Truist Financial set a $130.00 price objective on Advanced Micro Devices in a research note on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $151.34.

Insider Activity

In related news, EVP Philip Guido acquired 4,645 shares of the stock in a transaction on Friday, February 7th. The shares were acquired 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 approximately $3,605,626.32. This trade represents a 16.09 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Advanced Micro Devices by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer’s stock valued at $18,143,884,000 after acquiring an additional 1,441,626 shares during the last quarter. Geode Capital Management LLC increased its position in Advanced Micro Devices by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 35,079,256 shares of the semiconductor manufacturer’s stock worth $4,224,840,000 after purchasing an additional 835,413 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Advanced Micro Devices by 1.2% in the 4th quarter. Fisher Asset Management LLC now owns 24,086,020 shares of the semiconductor manufacturer’s stock valued at $2,909,350,000 after purchasing an additional 290,784 shares during the last quarter. Norges Bank acquired a new stake in Advanced Micro Devices during the fourth quarter worth $2,867,193,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Advanced Micro Devices by 9.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,401,436 shares of the semiconductor manufacturer’s stock valued at $2,585,079,000 after buying an additional 1,929,225 shares during the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

Advanced Micro Devices Price Performance

The company’s fifty day moving average is $103.93 and its two-hundred day moving average is $126.77. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. The stock has a market cap of $142.74 billion, a price-to-earnings ratio of 89.50, a P/E/G ratio of 1.11 and a beta of 1.89.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 earnings per share (EPS) 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%. As a group, research analysts predict that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current 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.