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

Advanced Micro Devices, Inc. (NASDAQ:AMD) fell 1.3% during trading on Tuesday . The stock traded as low as $103.04 and last traded at $103.27. 9,002,755 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 44,128,431 shares. The stock had previously closed at $104.59.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AMD. Hsbc Global Res lowered Advanced Micro Devices from a “strong-buy” rating to a “moderate sell” rating in a report on Wednesday, January 8th. TD Cowen decreased their price objective on Advanced Micro Devices from $185.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Bank of America decreased their price objective on Advanced Micro Devices from $155.00 to $135.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Wedbush reissued an “outperform” rating and set a $150.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, February 5th. Finally, Mizuho decreased their price target on Advanced Micro Devices from $140.00 to $120.00 and set an “outperform” rating on the stock in a research note on Friday, March 14th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, nineteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Advanced Micro Devices has an average rating of “Moderate Buy” and an average target price of $155.14.

Advanced Micro Devices Trading Up 2.6 %

The company has a debt-to-equity ratio of 0.03, a current ratio of 2.62 and a quick ratio of 1.83. The stock has a market capitalization of $172.14 billion, a price-to-earnings ratio of 107.30, a PEG ratio of 1.11 and a beta of 1.74. The business has a 50 day simple moving average of $110.76 and a 200-day simple moving average of $132.35.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.07. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. As a group, equities analysts expect that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Philip Guido acquired 4,645 shares of the company’s stock in a transaction on Friday, February 7th. The shares were purchased at an average price of $107.56 per share, for a total transaction of $499,616.20. Following the completion of the purchase, the executive vice president now directly owns 33,522 shares of the company’s stock, valued at approximately $3,605,626.32. This represents a 16.09 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.73% of the stock is owned by insiders.

Hedge Funds Weigh In On Advanced Micro Devices

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Advanced Micro Devices by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer’s stock valued at $18,143,884,000 after purchasing an additional 1,441,626 shares in the last quarter. State Street Corp boosted its holdings in shares of Advanced Micro Devices by 2.3% in the 3rd quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock valued at $11,513,538,000 after purchasing an additional 1,580,035 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Advanced Micro Devices by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 35,079,256 shares of the semiconductor manufacturer’s stock valued at $4,224,840,000 after purchasing an additional 835,413 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Advanced Micro Devices by 1.2% in the 4th quarter. Fisher Asset Management LLC now owns 24,086,020 shares of the semiconductor manufacturer’s stock valued at $2,909,350,000 after purchasing an additional 290,784 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Advanced Micro Devices in the 4th quarter valued at $2,867,193,000. Institutional investors 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.