Advanced Micro Devices (NASDAQ:AMD) Trading Down 1.2% – Here’s What Happened

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) dropped 1.2% on Friday . The company traded as low as $122.26 and last traded at $123.51. Approximately 12,319,867 shares changed hands during trading, a decline of 77% from the average daily volume of 53,315,707 shares. The stock had previously closed at $125.06.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AMD. Mizuho cut their price objective on shares of Advanced Micro Devices from $185.00 to $180.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Rosenblatt Securities restated a “buy” rating and set a $250.00 price target on shares of Advanced Micro Devices in a research note on Monday, October 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $180.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. Morgan Stanley dropped their target price on shares of Advanced Micro Devices from $169.00 to $158.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Finally, Evercore ISI upped their price target on shares of Advanced Micro Devices from $193.00 to $198.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $191.96.

Advanced Micro Devices Trading Down 0.5 %

The stock has a market cap of $201.97 billion, a PE ratio of 112.13, a price-to-earnings-growth ratio of 1.88 and a beta of 1.65. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50. The company has a 50 day moving average of $139.36 and a two-hundred day moving average of $149.50.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, meeting analysts’ consensus estimates of $0.92. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The business had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.71 billion. During the same period in the previous year, the business earned $0.53 earnings per share. The business’s revenue was up 17.6% compared to the same quarter last year. Sell-side analysts anticipate that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total value of $5,743,301.80. Following the transaction, the executive vice president now owns 293,347 shares in the company, valued at approximately $41,558,469.49. This trade represents a 12.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Lisa T. Su sold 80,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the sale, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at $513,150,048.94. The trade was a 2.19 % decrease in their position. 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 ninety days. Corporate insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Lee Danner & Bass Inc. acquired a new stake in Advanced Micro Devices during the second quarter worth about $212,000. Hantz Financial Services Inc. purchased a new position in Advanced Micro Devices in the second quarter worth approximately $652,000. Pinnacle Wealth Management LLC increased its stake in Advanced Micro Devices by 3.4% during the second quarter. Pinnacle Wealth Management LLC now owns 17,693 shares of the semiconductor manufacturer’s stock worth $2,870,000 after acquiring an additional 586 shares during the last quarter. Bryn Mawr Capital Management LLC lifted its stake in shares of Advanced Micro Devices by 22.4% in the 2nd quarter. Bryn Mawr Capital Management LLC now owns 6,484 shares of the semiconductor manufacturer’s stock valued at $999,000 after purchasing an additional 1,187 shares during the last quarter. Finally, Pinnacle Associates Ltd. grew its holdings in shares of Advanced Micro Devices by 3.9% during the 2nd quarter. Pinnacle Associates Ltd. now owns 72,560 shares of the semiconductor manufacturer’s stock worth $11,770,000 after purchasing an additional 2,704 shares during the period. 71.34% of the stock is currently owned by institutional investors and hedge funds.

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.