Advanced Micro Devices (NASDAQ:AMD) Reaches New 12-Month Low – Here’s What Happened

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price hit a new 52-week low on Friday . The company traded as low as $115.01 and last traded at $115.28, with a volume of 12895736 shares. The stock had previously closed at $121.84.

Wall Street Analyst Weigh In

AMD has been the topic of a number of recent research reports. Barclays reduced their price target on shares of Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Mizuho lowered their target price on Advanced Micro Devices from $185.00 to $180.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. UBS Group cut their price target on Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 target price on shares of Advanced Micro Devices in a research report on Monday, October 28th. Finally, Benchmark reiterated a “buy” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, six have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $185.96.

Advanced Micro Devices Stock Down 5.6 %

The stock has a fifty day moving average of $133.09 and a 200-day moving average of $147.05. The firm has a market capitalization of $186.66 billion, a price-to-earnings ratio of 103.62, a PEG ratio of 1.88 and a beta of 1.66. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, hitting 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 firm had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter last year, the business posted $0.53 EPS. Advanced Micro Devices’s revenue was up 17.6% on a year-over-year basis. As a group, sell-side analysts expect that Advanced Micro Devices, Inc. will post 2.54 EPS for the current year.

Insider Buying and Selling

In other news, EVP Forrest Eugene Norrod sold 40,540 shares of the company’s stock in a transaction dated 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 $41,558,469.49. This represents a 12.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Lisa T. Su sold 80,000 shares of the business’s 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 directly owns 3,566,762 shares in the company, valued at $513,150,048.94. The trade was a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 197,036 shares of company stock valued at $28,165,821. Company insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. State Street Corp increased its position in 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 buying an additional 1,580,035 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Advanced Micro Devices by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock valued at $5,597,337,000 after acquiring an additional 441,924 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in Advanced Micro Devices by 2.8% in the 3rd quarter. Fisher Asset Management LLC now owns 23,795,236 shares of the semiconductor manufacturer’s stock worth $3,904,323,000 after purchasing an additional 644,039 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Advanced Micro Devices by 8.7% during 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 worth $3,195,000,000 after purchasing an additional 1,565,083 shares during the period. Finally, Legal & General Group Plc grew its holdings in Advanced Micro Devices by 1.4% during 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 purchasing an additional 188,580 shares during the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

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.