Advanced Micro Devices (NASDAQ:AMD) Shares Down 7.5%

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price dropped 7.5% on Wednesday . The stock traded as low as $163.33 and last traded at $164.31. Approximately 19,870,197 shares were traded during trading, a decline of 69% from the average daily volume of 63,843,270 shares. The stock had previously closed at $177.55.

Analyst Ratings Changes

AMD has been the subject of several analyst reports. Benchmark dropped their price objective on Advanced Micro Devices from $245.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Morgan Stanley cut Advanced Micro Devices from an “overweight” rating to an “equal weight” rating and set a $176.00 price objective for the company. in a report on Monday, June 10th. DZ Bank raised Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $190.00 price objective for the company in a report on Tuesday, May 7th. Jefferies Financial Group initiated coverage on Advanced Micro Devices in a report on Monday, May 13th. They issued a “buy” rating and a $190.00 price objective for the company. Finally, Roth Mkm dropped their price objective on Advanced Micro Devices from $190.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $193.47.

Advanced Micro Devices Price Performance

The stock has a market capitalization of $261.73 billion, a price-to-earnings ratio of 241.64, a P/E/G ratio of 2.08 and a beta of 1.68. The company has a fifty day simple moving average of $164.09 and a 200 day simple moving average of $167.96. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.92 and a current ratio of 2.64.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 EPS for the quarter, topping the consensus estimate of $0.61 by $0.01. The firm had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.48 billion. Advanced Micro Devices had a return on equity of 5.72% and a net margin of 4.89%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.43 EPS. Equities research analysts forecast that Advanced Micro Devices, Inc. will post 2.6 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Mark D. Papermaster sold 16,200 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $158.94, for a total value of $2,574,828.00. Following the transaction, the executive vice president now directly owns 1,546,227 shares of the company’s stock, valued at approximately $245,757,319.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Advanced Micro Devices by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 144,794,666 shares of the semiconductor manufacturer’s stock valued at $26,133,989,000 after purchasing an additional 2,349,288 shares during the period. Fisher Asset Management LLC raised its stake in Advanced Micro Devices by 2.2% during the 4th quarter. Fisher Asset Management LLC now owns 28,368,826 shares of the semiconductor manufacturer’s stock worth $4,181,849,000 after buying an additional 600,638 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Advanced Micro Devices by 10.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,675,684 shares of the semiconductor manufacturer’s stock worth $4,079,674,000 after buying an additional 2,553,392 shares during the period. Jennison Associates LLC raised its stake in Advanced Micro Devices by 5.9% during the 4th quarter. Jennison Associates LLC now owns 26,886,280 shares of the semiconductor manufacturer’s stock worth $3,963,307,000 after buying an additional 1,490,997 shares during the period. Finally, Norges Bank acquired a new position in Advanced Micro Devices during the 4th quarter worth approximately $3,426,529,000. 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.