Advanced Micro Devices (NASDAQ:AMD) Shares Down 1.3% – Here’s What Happened

Advanced Micro Devices, Inc. (NASDAQ:AMD) was down 1.3% during mid-day trading on Monday . The stock traded as low as $123.12 and last traded at $125.27. 15,732,225 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 53,714,383 shares. The stock had previously closed at $126.91.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. UBS Group decreased their target price 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. Barclays reduced their price objective on shares of Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. TD Cowen cut their price target on shares of Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Roth Mkm reiterated a “buy” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research report on Friday, October 11th. Finally, Edward Jones began coverage on Advanced Micro Devices in a report on Tuesday, August 20th. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $192.36.

Advanced Micro Devices Price Performance

The company has a fifty day simple moving average of $146.72 and a two-hundred day simple moving average of $151.92. 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 stock has a market capitalization of $205.59 billion, a P/E ratio of 114.14, a PEG ratio of 1.88 and a beta of 1.65.

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

Insider Transactions at Advanced Micro Devices

In other news, EVP Forrest Eugene Norrod sold 40,540 shares of the business’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 sale, the executive vice president now directly owns 293,347 shares in the company, valued at $41,558,469.49. The trade was a 12.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 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 $513,150,048.94. The trade was a 2.19 % decrease in their position. 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 over the last three months. 0.73% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AMD. International Assets Investment Management LLC lifted its stake in shares of Advanced Micro Devices by 17,137.3% during the 3rd quarter. International Assets Investment Management LLC now owns 7,860,909 shares of the semiconductor manufacturer’s stock worth $1,289,818,000 after buying an additional 7,815,305 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Advanced Micro Devices by 52.6% in the second quarter. Van ECK Associates Corp now owns 8,645,658 shares of the semiconductor manufacturer’s stock valued at $1,402,412,000 after acquiring an additional 2,979,204 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Advanced Micro Devices by 42.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock worth $1,381,679,000 after purchasing an additional 2,497,056 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Advanced Micro Devices in the 2nd quarter valued at about $296,178,000. Finally, State Street Corp increased its holdings in shares of 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 purchasing an additional 1,580,035 shares during the period. 71.34% of the stock is currently owned by institutional investors and hedge funds.

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.