Advanced Micro Devices (NASDAQ:AMD) shares fall 1% after analyst downgrade

Advanced Micro Devices, Inc. (NASDAQ:AMD – Get Free Report) shares fell 1% in trading on Tuesday after KeyCorp lowered its price target on the stock from $230.00 to $220.00. KeyCorp currently has an Overweight rating on the stock. Advanced Micro Devices traded at $174.70 and was last seen at $176.95. A total of 21,734,559 shares were traded during midday trading, down 66% from its average session volume of 64,291,820 shares. The stock had previously closed at $178.69.

Several other brokerages have also commented on AMD. DZ Bank raised shares of Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $190.00 price target for the company in a research note on Tuesday, May 7. StockNews.com lowered Advanced Micro Devices from a “hold” rating to a “sell” rating in a report on Saturday, June 15. Roth Mkm lowered the price target for Advanced Micro Devices from $190.00 to $180.00 and set a “buy” rating for the stock in a research report on Wednesday, May 1. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price target for shares of Advanced Micro Devices in a research report on Wednesday, May 1. Finally, Mizuho lowered their price target on shares of Advanced Micro Devices from $235.00 to $215.00 and set a “buy” rating for the stock in a report on Wednesday, May 1. One investment analyst rated the stock a sell, three gave a hold rating, and twenty-seven gave a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $190.50.

Read our latest report on advanced micro devices

Insider Buying and Selling at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 16,200 shares of the company’s stock in a transaction dated Friday, June 14. The shares were sold at an average price of $158.94, for a total 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 $245,757,319.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link . 0.65% of the stock is currently owned by insiders.

Institutional investors evaluate advanced micro devices

Several large investors have recently bought and sold shares of the company. Chase Investment Counsel Corp increased its position in Advanced Micro Devices by 0.7% in the fourth quarter. Chase Investment Counsel Corp now owns 12,025 shares of the semiconductor maker’s stock worth $1,772,000 after purchasing an additional 87 shares in the last quarter. Washburn Capital Management Inc. bought a new stake in Advanced Micro Devices in the fourth quarter worth about $231,000. Pathway Financial Advisors LLC bought a new position in shares of Advanced Micro Devices in the fourth quarter worth about $229,000. Independence Bank of Kentucky increased its holdings in Advanced Micro Devices by 84.1% in the fourth quarter. Independence Bank of Kentucky now owns 3,671 shares of the semiconductor maker’s stock worth $541,000 after purchasing an additional 1,677 shares in the last quarter. Finally, Fortis Capital Advisors LLC increased its position in Advanced Micro Devices by 137.8% during the fourth quarter. Fortis Capital Advisors LLC now owns 12,485 shares of the semiconductor maker’s stock valued at $1,840,000 after purchasing an additional 7,235 shares during the period. Institutional investors own 71.34% of the company’s stock.

Sales of advanced microdevices fell 0.9%

The company’s 50 day simple moving average is $161.02 and its 200 day simple moving average is $166.69. The company has a market capitalization of $286.25 billion, a P/E ratio of 260.44, a P/E/G ratio of 1.99 and a beta of 1.68. The company has a current ratio of 1.92, a current ratio of 2.64 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last released its quarterly financial results on Tuesday, April 30. The semiconductor maker reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. Advanced Micro Devices had a return on equity of 5.72% and a net margin of 4.89%. The company had revenue of $5.47 billion for the quarter, compared to analysts’ estimates of $5.48 billion. During the same period last year, the company earned $0.43 EPS. Advanced Micro Devices’ quarterly revenue increased 2.2% compared to the same quarter last year. Research analysts predict that Advanced Micro Devices, Inc. will report earnings per share of $2.61 for the current fiscal year.

Advanced Micro Devices Company Profile

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Advanced Micro Devices, Inc. operates as a global semiconductor company. 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, as well as semi-custom system-on-chip (SoC) products, microprocessor and SoC development services and technologies, data processing units, field programmable gate arrays (FPGAs), and adaptive SoC products.

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