Advanced Micro Devices (NASDAQ:AMD) Trading Down 5.6% – Here’s What Happened

Advanced Micro Devices, Inc. (NASDAQ:AMD) was down 5.6% during trading on Monday . The company traded as low as $115.55 and last traded at $115.93. Approximately 20,975,607 shares were traded during trading, a decline of 43% from the average daily volume of 36,668,207 shares. The stock had previously closed at $122.84.

Analyst Upgrades and Downgrades

AMD has been the topic of several recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $180.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Barclays cut their price target on shares of Advanced Micro Devices from $170.00 to $140.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. HSBC reissued a “reduce” rating and set a $110.00 price objective (down previously from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, January 8th. Loop Capital assumed coverage on shares of Advanced Micro Devices in a research report on Tuesday, January 14th. They issued a “buy” rating and a $175.00 price objective on the stock. Finally, Hsbc Global Res cut Advanced Micro Devices from a “strong-buy” rating to a “moderate sell” rating in a report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Advanced Micro Devices presently has an average rating of “Moderate Buy” and an average price target of $173.07.

Advanced Micro Devices Trading Down 0.7 %

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 business has a 50 day moving average of $127.14 and a two-hundred day moving average of $142.27. The firm has a market cap of $185.28 billion, a P/E ratio of 102.86, a PEG ratio of 1.09 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD) last issued 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. The company had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The company’s revenue was up 17.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.53 earnings per share. Analysts predict that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current year.

Insider Buying and Selling at Advanced Micro Devices

In other news, CEO Lisa T. Su sold 76,496 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at approximately $508,834,266.92. The trade was a 2.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 293,347 shares in the company, valued at approximately $41,558,469.49. This represents a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 197,036 shares of company stock valued at $28,165,821 in the last three months. 0.65% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Advanced Micro Devices

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