Advanced Micro Devices (NASDAQ:AMD) Shares Down 6% – Here’s What Happened

Advanced Micro Devices, Inc. (NASDAQ:AMD) was down 6% on Thursday . The stock traded as low as $96.43 and last traded at $96.79. Approximately 13,655,650 shares were traded during trading, a decline of 68% from the average daily volume of 43,136,889 shares. The stock had previously closed at $102.96.

Analyst Ratings Changes

A number of analysts have commented on AMD shares. Susquehanna reduced their price target on Advanced Micro Devices from $165.00 to $150.00 and set a “positive” rating for the company in a research report on Wednesday, February 5th. Roth Capital set a $140.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, February 5th. The Goldman Sachs Group downgraded shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $175.00 to $129.00 in a research report on Friday, January 10th. Melius Research reaffirmed a “hold” rating and issued a $129.00 target price (down previously from $160.00) on shares of Advanced Micro Devices in a report on Tuesday, January 28th. Finally, Wells Fargo & Company reissued an “overweight” rating on shares of Advanced Micro Devices in a report on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $152.72.

Advanced Micro Devices Stock Down 8.9 %

The company has a market cap of $151.61 billion, a P/E ratio of 94.75, a P/E/G ratio of 1.11 and a beta of 1.88. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. The company has a 50-day simple moving average of $108.21 and a 200 day simple moving average of $129.81.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 earnings per share for the quarter, meeting the consensus estimate of $1.07. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. On average, equities analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Insider Buying and Selling

In other news, EVP Philip Guido acquired 4,645 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were purchased at an average price of $107.56 per share, with a total value of $499,616.20. Following the transaction, the executive vice president now directly owns 33,522 shares in the company, valued at approximately $3,605,626.32. This represents a 16.09 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.65% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Advanced Micro Devices

A number of large investors have recently made changes to their positions in the business. Bear Mountain Capital Inc. purchased a new stake in Advanced Micro Devices in the fourth quarter valued at about $25,000. Global Wealth Strategies & Associates purchased a new position in shares of Advanced Micro Devices in the 4th quarter valued at approximately $26,000. Greenline Partners LLC acquired a new stake in Advanced Micro Devices in the 4th quarter worth approximately $28,000. Halbert Hargrove Global Advisors LLC purchased a new stake in Advanced Micro Devices during the 4th quarter worth approximately $29,000. Finally, Mpwm Advisory Solutions LLC acquired a new position in Advanced Micro Devices during the 4th quarter valued at approximately $30,000. 71.34% of the stock is 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.