Advanced Micro Devices (NASDAQ:AMD) Trading Down 1.2% – Here’s Why

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price fell 1.2% during trading on Wednesday . The company traded as low as $141.87 and last traded at $141.93. 8,053,378 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 55,648,492 shares. The stock had previously closed at $143.63.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AMD. Wedbush reissued an “outperform” rating and set a $200.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Citigroup dropped their price target on Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Edward Jones began coverage on Advanced Micro Devices in a research report on Tuesday, August 20th. They set a “buy” rating for the company. UBS Group reduced their price target on shares of 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. Finally, BNP Paribas raised shares of Advanced Micro Devices to a “strong-buy” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.79.

Advanced Micro Devices Stock Performance

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 50 day moving average of $154.52 and a two-hundred day moving average of $155.31. The stock has a market cap of $225.31 billion, a P/E ratio of 125.08, a P/E/G ratio of 1.99 and a beta of 1.71.

Advanced Micro Devices (NASDAQ:AMD) last posted 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. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The company had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.71 billion. During the same period in the prior year, the business earned $0.53 earnings per share. Advanced Micro Devices’s revenue for the quarter was up 17.6% compared to the same quarter last year. On average, research analysts predict that Advanced Micro Devices, Inc. will post 2.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other Advanced Micro Devices news, CEO Lisa T. Su sold 80,000 shares of Advanced Micro Devices stock in a transaction 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 sale, the chief executive officer now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the 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 completion of the transaction, the executive vice president now owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. This represents a 12.14 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

A number of institutional investors have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Advanced Micro Devices during the 3rd quarter worth approximately $4,894,000. Kestra Investment Management LLC acquired a new position in Advanced Micro Devices during the third quarter worth $286,000. FSA Wealth Management LLC acquired a new stake in shares of Advanced Micro Devices during the 3rd quarter worth about $41,000. Mark Sheptoff Financial Planning LLC raised its stake in shares of Advanced Micro Devices by 48.6% in the third quarter. Mark Sheptoff Financial Planning LLC now owns 917 shares of the semiconductor manufacturer’s stock valued at $150,000 after acquiring an additional 300 shares during the last quarter. Finally, Erste Asset Management GmbH bought a new position in Advanced Micro Devices in the 3rd quarter valued at $47,802,000. 71.34% of the stock is owned by institutional investors and hedge funds.

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.