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

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price fell 1.2% on Thursday . The stock traded as low as $119.45 and last traded at $119.98. 14,141,665 shares traded hands during trading, a decline of 74% from the average session volume of 53,595,902 shares. The stock had previously closed at $121.41.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AMD. Piper Sandler reiterated an “overweight” rating and issued a $180.00 target price (down previously from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Bank of America downgraded shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and cut their target price for the stock from $180.00 to $155.00 in a research report on Monday, December 9th. Roth Mkm restated a “buy” rating and set a $200.00 price target on shares of Advanced Micro Devices in a report on Friday, October 11th. Mizuho dropped their price target on shares of Advanced Micro Devices from $185.00 to $180.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Finally, UBS Group reduced their price objective on Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $192.36.

Advanced Micro Devices Trading Down 1.6 %

The business’s fifty day simple moving average is $143.88 and its two-hundred day simple moving average is $151.14. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $193.89 billion, a P/E ratio of 107.64, a P/E/G ratio of 1.88 and a beta of 1.65.

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

Insider Transactions at Advanced Micro Devices

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total value of $5,743,301.80. Following the completion of the transaction, the executive vice president now 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Lisa T. Su sold 76,496 shares of Advanced Micro Devices stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 3,566,762 shares in the company, valued at $508,834,266.92. The trade was a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 197,036 shares of company stock valued at $28,165,821. 0.73% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AMD. Christopher J. Hasenberg Inc lifted its stake in Advanced Micro Devices by 12.0% in the third quarter. Christopher J. Hasenberg Inc now owns 560 shares of the semiconductor manufacturer’s stock valued at $97,000 after buying an additional 60 shares in the last quarter. Wealth Effects LLC boosted its stake in Advanced Micro Devices by 0.7% in the 3rd quarter. Wealth Effects LLC now owns 9,419 shares of the semiconductor manufacturer’s stock worth $1,545,000 after purchasing an additional 65 shares during the period. Jacobsen Capital Management raised its stake in shares of Advanced Micro Devices by 2.1% in the 3rd quarter. Jacobsen Capital Management now owns 3,378 shares of the semiconductor manufacturer’s stock valued at $554,000 after purchasing an additional 70 shares during the period. Sigma Investment Counselors Inc. lifted its holdings in shares of Advanced Micro Devices by 5.3% in the third quarter. Sigma Investment Counselors Inc. now owns 1,482 shares of the semiconductor manufacturer’s stock valued at $243,000 after purchasing an additional 74 shares in the last quarter. Finally, Bedell Frazier Investment Counselling LLC boosted its position in shares of Advanced Micro Devices by 4.3% during the third quarter. Bedell Frazier Investment Counselling LLC now owns 1,780 shares of the semiconductor manufacturer’s stock worth $292,000 after buying an additional 74 shares during the period. 71.34% of the stock is owned by institutional investors.

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.