Advanced Micro Devices (NASDAQ:AMD) Stock Price Down 4.3% – What’s Next?

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price was down 4.3% during mid-day trading on Thursday . The company traded as low as $120.12 and last traded at $121.84. Approximately 46,478,023 shares changed hands during mid-day trading, an increase of 14% from the average daily volume of 40,794,836 shares. The stock had previously closed at $127.33.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Hsbc Global Res cut shares of Advanced Micro Devices from a “strong-buy” rating to a “moderate sell” rating in a report on Wednesday. Barclays decreased their target price 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. Benchmark reaffirmed a “buy” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a research report on Thursday, October 31st. Cantor Fitzgerald reissued an “overweight” rating and issued a $180.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. Finally, StockNews.com raised shares of Advanced Micro Devices from a “sell” rating to a “hold” rating in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and an average target price of $185.22.

Advanced Micro Devices Stock Performance

The stock has a 50-day moving average of $132.58 and a 200 day moving average of $146.74. 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 firm has a market capitalization of $188.31 billion, a P/E ratio of 104.54, a price-to-earnings-growth ratio of 1.88 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (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 posted $0.53 earnings per share. The firm’s revenue for the quarter was up 17.6% compared to the same quarter last year. On average, research analysts anticipate that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current year.

Insider Activity

In other news, CEO Lisa T. Su sold 80,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total value 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 approximately $513,150,048.94. This trade represents a 2.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was 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 approximately $41,558,469.49. This trade represents a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 197,036 shares of company stock valued at $28,165,821 over the last three months. 0.65% of the stock is owned by insiders.

Institutional Investors Weigh In On Advanced Micro Devices

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMD. State Street Corp boosted its position in shares of Advanced Micro Devices by 2.3% during the third quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after purchasing an additional 1,580,035 shares in the last quarter. Geode Capital Management LLC raised its stake in Advanced Micro Devices by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock worth $5,597,337,000 after buying an additional 441,924 shares during the period. Fisher Asset Management LLC lifted its holdings in Advanced Micro Devices by 2.8% during the third quarter. Fisher Asset Management LLC now owns 23,795,236 shares of the semiconductor manufacturer’s stock worth $3,904,323,000 after acquiring an additional 644,039 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Advanced Micro Devices by 8.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,472,211 shares of the semiconductor manufacturer’s stock valued at $3,195,000,000 after acquiring an additional 1,565,083 shares during the period. Finally, Legal & General Group Plc grew its stake in Advanced Micro Devices by 1.4% in the second quarter. Legal & General Group Plc now owns 13,310,158 shares of the semiconductor manufacturer’s stock valued at $2,159,039,000 after acquiring an additional 188,580 shares during the period. Institutional investors own 71.34% of the company’s stock.

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.