Advanced Micro Devices (NASDAQ:AMD) Stock Price Down 0.7% – Here’s Why

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price was down 0.7% during mid-day trading on Tuesday . The stock traded as low as $126.87 and last traded at $128.63. Approximately 17,207,079 shares changed hands during trading, a decline of 48% from the average daily volume of 33,135,172 shares. The stock had previously closed at $129.55.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating and set a $180.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. TD Cowen decreased their target price on Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Rosenblatt Securities restated a “buy” rating and set a $250.00 price target on shares of Advanced Micro Devices in a report on Monday, October 28th. Barclays decreased their price objective on Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Finally, Citigroup dropped their target price on Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $191.96.

Advanced Micro Devices Trading Down 0.5 %

The business has a 50 day moving average of $134.85 and a 200 day moving average of $147.64. The firm has a market cap of $209.13 billion, a price-to-earnings ratio of 116.10, a price-to-earnings-growth ratio of 1.88 and a beta of 1.66. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.92. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The firm had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same quarter last year, the business earned $0.53 earnings per share. Advanced Micro Devices’s revenue was up 17.6% compared to the same quarter last year. On average, research analysts forecast that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the completion of the sale, the executive vice president now directly owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. This represents a 12.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lisa T. Su sold 76,496 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total value of $10,912,919.36. Following the completion of the transaction, the chief executive officer now directly owns 3,566,762 shares in the company, valued at $508,834,266.92. This trade represents a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 197,036 shares of company stock valued at $28,165,821 over the last quarter. Company insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

A number of institutional investors have recently added to or reduced their stakes in the company. Bank of New Hampshire raised its position in shares of Advanced Micro Devices by 1.5% in the 4th quarter. Bank of New Hampshire now owns 9,802 shares of the semiconductor manufacturer’s stock valued at $1,184,000 after purchasing an additional 148 shares in the last quarter. Canandaigua National Bank & Trust Co. raised its holdings in Advanced Micro Devices by 72.5% in the fourth quarter. Canandaigua National Bank & Trust Co. now owns 5,712 shares of the semiconductor manufacturer’s stock valued at $690,000 after acquiring an additional 2,400 shares in the last quarter. Capital Market Strategies LLC boosted its stake in Advanced Micro Devices by 20.7% during the 4th quarter. Capital Market Strategies LLC now owns 5,511 shares of the semiconductor manufacturer’s stock valued at $666,000 after acquiring an additional 947 shares during the last quarter. Boltwood Capital Management grew its holdings in Advanced Micro Devices by 15.3% during the 4th quarter. Boltwood Capital Management now owns 2,413 shares of the semiconductor manufacturer’s stock worth $291,000 after acquiring an additional 320 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in shares of Advanced Micro Devices by 19.8% in the 4th quarter. Nordea Investment Management AB now owns 1,748,872 shares of the semiconductor manufacturer’s stock worth $212,943,000 after purchasing an additional 289,110 shares during the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

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.