Advanced Micro Devices (NASDAQ:AMD) Shares Down 2.8% After Analyst Downgrade

Advanced Micro Devices, Inc. (NASDAQ:AMDGet Free Report)’s stock price traded down 2.8% on Thursday after Citigroup lowered their price target on the stock from $210.00 to $200.00. Citigroup currently has a buy rating on the stock. Advanced Micro Devices traded as low as $143.33 and last traded at $144.40. 13,225,655 shares were traded during trading, a decline of 77% from the average session volume of 56,654,102 shares. The stock had previously closed at $148.60.

A number of other brokerages also recently issued reports on AMD. Morgan Stanley lowered their price target on Advanced Micro Devices from $178.00 to $169.00 and set an “equal weight” rating on the stock in a report on Wednesday. Robert W. Baird lowered their target price on shares of Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Susquehanna reiterated a “positive” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Piper Sandler restated an “overweight” rating and set a $180.00 price objective (down previously from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday. Finally, Bank of America restated a “buy” rating and issued a $180.00 target price on shares of Advanced Micro Devices in a report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and an average price target of $192.79.

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Hedge Funds Weigh In On Advanced Micro Devices

Several institutional investors have recently bought and sold shares of the business. Cherrydale Wealth Management LLC lifted its stake in Advanced Micro Devices by 4.7% in the second quarter. Cherrydale Wealth Management LLC now owns 1,305 shares of the semiconductor manufacturer’s stock worth $212,000 after purchasing an additional 58 shares during the last quarter. Christopher J. Hasenberg Inc increased its holdings in Advanced Micro Devices by 12.0% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 560 shares of the semiconductor manufacturer’s stock worth $97,000 after purchasing an additional 60 shares during the period. Delta Financial Group Inc. raised its position in Advanced Micro Devices by 5.0% during the 2nd quarter. Delta Financial Group Inc. now owns 1,325 shares of the semiconductor manufacturer’s stock valued at $215,000 after purchasing an additional 63 shares in the last quarter. Trivant Custom Portfolio Group LLC lifted its holdings in shares of Advanced Micro Devices by 0.3% in the 2nd quarter. Trivant Custom Portfolio Group LLC now owns 24,629 shares of the semiconductor manufacturer’s stock worth $3,995,000 after buying an additional 65 shares during the period. Finally, Wealth Effects LLC grew its position in shares of Advanced Micro Devices by 0.7% during the 3rd quarter. Wealth Effects LLC now owns 9,419 shares of the semiconductor manufacturer’s stock worth $1,545,000 after buying an additional 65 shares in the last quarter. Institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Stock Performance

The firm has a 50 day moving average price of $155.17 and a 200 day moving average price of $156.03. The stock has a market cap of $234.79 billion, a PE ratio of 212.35, a price-to-earnings-growth ratio of 2.33 and a beta of 1.70. The company has a quick ratio of 2.01, a current ratio of 2.82 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMDGet Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.92. The company had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.71 billion. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 5.98%. Advanced Micro Devices’s revenue was up 17.6% compared to the same quarter last year. During the same period last year, the company posted $0.53 earnings per share. As a group, research analysts forecast that Advanced Micro Devices, Inc. will post 2.56 earnings per share for the current year.

About Advanced Micro Devices

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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.

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