Advanced Micro Devices (NASDAQ:AMD) Trading Down 0.2% – Here’s Why

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price fell 0.2% during mid-day trading on Tuesday . The stock traded as low as $137.14 and last traded at $138.65. 5,667,270 shares changed hands during trading, a decline of 90% from the average session volume of 55,312,992 shares. The stock had previously closed at $138.93.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AMD. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price target on shares of Advanced Micro Devices in a report on Monday, October 28th. 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 research note on Wednesday, October 30th. Truist Financial lowered their target price on shares of Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating for the company in a research note on Wednesday, July 31st. Roth Mkm reiterated a “buy” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a report on Friday, October 11th. Finally, TD Cowen dropped their target price on shares of Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $192.79.

Advanced Micro Devices Trading Down 1.3 %

The stock has a market cap of $223.30 billion, a price-to-earnings ratio of 123.96, a P/E/G ratio of 1.93 and a beta of 1.71. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78. The company’s fifty day moving average price is $154.22 and its 200-day moving average price is $154.82.

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

Insider Buying and Selling

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of Advanced Micro Devices 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 completion of the transaction, the executive vice president now directly owns 293,347 shares in the company, valued at approximately $41,558,469.49. This trade represents a 12.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Lisa T. Su sold 80,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total value of $11,509,600.00. Following the completion of the sale, the chief executive officer now owns 3,566,762 shares in the company, valued at approximately $513,150,048.94. This represents a 2.19 % decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Advanced Micro Devices

A number of large investors have recently bought and sold shares of AMD. Semmax Financial Advisors Inc. lifted its holdings in Advanced Micro Devices by 926.7% during the first quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer’s stock valued at $28,000 after purchasing an additional 139 shares in the last quarter. Creative Capital Management Investments LLC raised its position in shares of Advanced Micro Devices by 124.6% during the 3rd quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 86 shares during the last quarter. ZRC Wealth Management LLC lifted its stake in Advanced Micro Devices by 90.4% in the 3rd quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 75 shares in the last quarter. Fairway Wealth LLC acquired a new stake in Advanced Micro Devices in the 2nd quarter worth about $27,000. Finally, Morton Brown Family Wealth LLC increased its stake in Advanced Micro Devices by 94.4% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock worth $27,000 after buying an additional 85 shares in 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.