Advanced Micro Devices (NASDAQ:AMD) Trading Down 3% – What’s Next?

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on AMD. Roth Mkm reissued a “buy” rating and set a $200.00 price target on shares of Advanced Micro Devices in a research report on Friday, October 11th. StockNews.com cut shares of Advanced Micro Devices from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. Evercore ISI increased their target price on shares of Advanced Micro Devices from $193.00 to $198.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Bank of America reaffirmed a “buy” rating and issued a $180.00 price target on shares of Advanced Micro Devices in a research note on Thursday, October 3rd. Finally, Edward Jones initiated coverage on shares of Advanced Micro Devices in a research note on Tuesday, August 20th. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and an average target price of $192.79.

Advanced Micro Devices Stock Performance

The stock has a market cap of $220.86 billion, a price-to-earnings ratio of 120.38, a PEG ratio of 1.95 and a beta of 1.71. The firm has a fifty day simple moving average of $153.19 and a 200 day simple moving average of $154.41. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.92. The firm had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The business’s revenue was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.53 earnings per share. As a group, sell-side analysts expect that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of the 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 sale, the executive vice president now directly owns 293,347 shares in the company, valued at $41,558,469.49. This represents a 12.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lisa T. Su sold 80,000 shares of Advanced Micro Devices stock in a transaction 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 transaction, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at approximately $513,150,048.94. The trade was a 2.19 % decrease in their position. The disclosure for this sale can be found here. 0.65% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Creative Capital Management Investments LLC lifted its holdings in Advanced Micro Devices by 124.6% in the third quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 86 shares during the period. ZRC Wealth Management LLC raised its position in shares of Advanced Micro Devices by 90.4% during the 3rd quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 75 shares during the last quarter. Morton Brown Family Wealth LLC lifted its stake in shares of Advanced Micro Devices by 94.4% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock valued at $27,000 after purchasing an additional 85 shares during the period. Fairway Wealth LLC bought a new position in shares of Advanced Micro Devices in the 2nd quarter worth $27,000. Finally, Semmax Financial Advisors Inc. grew its stake in shares of Advanced Micro Devices by 926.7% during the first quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer’s stock worth $28,000 after purchasing an additional 139 shares during the period. 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.