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

Advanced Micro Devices, Inc. (NASDAQ:AMD) gapped down prior to trading on Wednesday after Citigroup lowered their price target on the stock from $192.00 to $176.00. The stock had previously closed at $158.38, but opened at $148.11. Citigroup currently has a buy rating on the stock. Advanced Micro Devices shares last traded at $148.20, with a volume of 17,871,333 shares.

AMD has been the subject of several other research reports. Morgan Stanley decreased their price target on Advanced Micro Devices from $193.00 to $177.00 and set an “overweight” rating for the company in a research note on Monday. Wells Fargo & Company boosted their price target on shares of Advanced Micro Devices from $165.00 to $190.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. KeyCorp reduced their price target on shares of Advanced Micro Devices from $270.00 to $230.00 and set an “overweight” rating for the company in a research note on Wednesday. The Goldman Sachs Group upped their target price on Advanced Micro Devices from $157.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Finally, Susquehanna lowered their price target on Advanced Micro Devices from $200.00 to $185.00 and set a “positive” rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $182.62.

Insider Activity at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 16,200 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $164.25, for a total transaction of $2,660,850.00. Following the sale, the executive vice president now directly owns 1,554,602 shares in the company, valued at approximately $255,343,378.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,200 shares of Advanced Micro Devices stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $164.25, for a total transaction of $2,660,850.00. Following the completion of the sale, the executive vice president now directly owns 1,554,602 shares in the company, valued at $255,343,378.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Lisa T. Su sold 125,000 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $195.13, for a total value of $24,391,250.00. Following the completion of the transaction, the chief executive officer now directly owns 3,222,230 shares in the company, valued at approximately $628,753,739.90. The disclosure for this sale can be found here. Insiders have sold 341,143 shares of company stock valued at $62,580,844 over the last ninety days. Corporate insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

A number of large investors have recently added to or reduced their stakes in AMD. Tradewinds Capital Management LLC increased its stake in shares of Advanced Micro Devices by 102.9% in the 1st quarter. Tradewinds Capital Management LLC now owns 140 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 71 shares in the last quarter. Peoples Bank KS bought a new position in shares of Advanced Micro Devices during the third quarter valued at approximately $26,000. Spartan Planning & Wealth Management purchased a new position in shares of Advanced Micro Devices during the third quarter valued at approximately $27,000. Northwest Bank & Trust Co bought a new stake in shares of Advanced Micro Devices in the 4th quarter worth approximately $28,000. Finally, Bare Financial Services Inc purchased a new stake in shares of Advanced Micro Devices in the 4th quarter worth approximately $29,000. Institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Trading Down 8.9 %

The stock has a 50-day moving average of $176.64 and a two-hundred day moving average of $151.54. The company has a market cap of $233.16 billion, a P/E ratio of 277.45, a price-to-earnings-growth ratio of 2.44 and a beta of 1.64. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.86 and a current ratio of 2.51.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.01. The firm had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.48 billion. Advanced Micro Devices had a net margin of 3.77% and a return on equity of 5.73%. The business’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.43 earnings per share. On average, equities research analysts predict that Advanced Micro Devices, Inc. will post 2.64 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.