Advanced Micro Devices (NASDAQ:AMD) Shares Down 3% – Time to Sell?

Advanced Micro Devices, Inc. (NASDAQ:AMD) was down 3% during trading on Wednesday . The company traded as low as $133.61 and last traded at $133.62. Approximately 9,419,632 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 54,600,977 shares. The stock had previously closed at $137.72.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AMD. Benchmark reaffirmed a “buy” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research report on Thursday, October 31st. Edward Jones initiated coverage on Advanced Micro Devices in a report on Tuesday, August 20th. They issued a “buy” rating on the stock. TD Cowen reduced their target price on shares of Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and set a $180.00 price target (down previously from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Advanced Micro Devices in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $192.79.

Advanced Micro Devices Trading Down 1.1 %

The company has a market cap of $221.09 billion, a price-to-earnings ratio of 122.74, a PEG ratio of 1.95 and a beta of 1.71. The business’s 50 day moving average price is $152.53 and its 200-day moving average price is $154.16. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50.

Advanced Micro Devices (NASDAQ:AMD) last released 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 return on equity of 6.62% and a net margin of 7.52%. The company’s revenue was up 17.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.53 EPS. On average, research analysts forecast that Advanced Micro Devices, Inc. will post 2.54 EPS for the current year.

Insider Buying and Selling at Advanced Micro Devices

In other news, CEO Lisa T. Su sold 80,000 shares of the business’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 transaction, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at $513,150,048.94. The trade was a 2.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total value 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 $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. Company insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

Institutional investors have recently modified their holdings of the stock. Synovus Financial Corp lifted its stake in shares of Advanced Micro Devices by 26.2% during the third quarter. Synovus Financial Corp now owns 33,769 shares of the semiconductor manufacturer’s stock valued at $5,541,000 after acquiring an additional 7,006 shares during the period. Destination Wealth Management grew its position in shares of Advanced Micro Devices by 32.4% during the 3rd quarter. Destination Wealth Management now owns 11,680 shares of the semiconductor manufacturer’s stock worth $1,916,000 after buying an additional 2,855 shares during the period. Wilmington Savings Fund Society FSB raised its stake in shares of Advanced Micro Devices by 189.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 16,095 shares of the semiconductor manufacturer’s stock worth $2,641,000 after buying an additional 10,539 shares during the last quarter. Sfmg LLC lifted its holdings in Advanced Micro Devices by 109.8% in the third quarter. Sfmg LLC now owns 52,789 shares of the semiconductor manufacturer’s stock valued at $8,662,000 after buying an additional 27,633 shares during the period. Finally, World Investment Advisors LLC boosted its stake in Advanced Micro Devices by 430.6% in the third quarter. World Investment Advisors LLC now owns 61,505 shares of the semiconductor manufacturer’s stock valued at $10,092,000 after acquiring an additional 49,913 shares during the last quarter. 71.34% of the stock is owned by institutional investors.

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.