Advanced Micro Devices (NASDAQ:AMD) Shares Down 0.9% – Here’s Why

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price dropped 0.9% on Thursday . The stock traded as low as $118.25 and last traded at $118.87. Approximately 11,788,800 shares were traded during trading, a decline of 70% from the average daily volume of 38,982,680 shares. The stock had previously closed at $119.96.

Analyst Ratings Changes

AMD has been the topic of several recent research reports. Benchmark reissued a “buy” rating and set a $200.00 price target on shares of Advanced Micro Devices in a research report on Thursday, October 31st. Hsbc Global Res cut shares of Advanced Micro Devices from a “strong-buy” rating to a “moderate sell” rating in a research note on Wednesday, January 8th. TD Cowen reduced their price target on shares of Advanced Micro Devices from $185.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Loop Capital initiated coverage on Advanced Micro Devices in a research report on Tuesday. They issued a “buy” rating and a $175.00 price objective for the company. Finally, Barclays reduced their target price on Advanced Micro Devices from $170.00 to $140.00 and set an “overweight” rating on the stock in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and a consensus target price of $178.61.

Advanced Micro Devices Trading Up 2.5 %

The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. The company has a market cap of $197.11 billion, a price-to-earnings ratio of 109.42, a P/E/G ratio of 1.03 and a beta of 1.66. The business has a fifty day simple moving average of $130.47 and a 200 day simple moving average of $145.58.

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

Insider Activity

In other Advanced Micro Devices news, CEO Lisa T. Su sold 80,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the transaction, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at $513,150,048.94. This trade represents a 2.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the business’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 sale, the executive vice president now directly owns 293,347 shares of the company’s stock, valued at $41,558,469.49. This represents a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 197,036 shares of company stock valued at $28,165,821 over the last 90 days. Insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AMD. Creative Capital Management Investments LLC grew its holdings in Advanced Micro Devices by 124.6% during the 3rd quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 86 shares in the last quarter. ZRC Wealth Management LLC raised its stake in Advanced Micro Devices by 90.4% during the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 75 shares during the period. Global Wealth Strategies & Associates acquired a new position in Advanced Micro Devices in the fourth quarter valued at approximately $26,000. Retirement Wealth Solutions LLC bought a new position in shares of Advanced Micro Devices during the fourth quarter valued at approximately $32,000. Finally, Abich Financial Wealth Management LLC raised its position in shares of Advanced Micro Devices by 101.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 220 shares of the semiconductor manufacturer’s stock worth $36,000 after purchasing an additional 111 shares during the period. 71.34% of the stock is owned by hedge funds and other institutional investors.

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.