Advanced Micro Devices (NASDAQ:AMD) Trading Down 1.2% – What’s Next?

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares fell 1.2% during mid-day trading on Wednesday . The stock traded as low as $141.87 and last traded at $141.93. 8,053,378 shares were traded during trading, a decline of 86% from the average session volume of 55,648,492 shares. The stock had previously closed at $143.63.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Evercore ISI upped their target price on shares of Advanced Micro Devices from $193.00 to $198.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Morgan Stanley reduced their price target on shares of Advanced Micro Devices from $178.00 to $169.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 30th. Wedbush reiterated an “outperform” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, July 31st. Piper Sandler restated an “overweight” rating and set a $180.00 price objective (down from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. Finally, Bank of America reiterated a “buy” rating and issued a $180.00 target price on shares of Advanced Micro Devices in a report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $192.79.

Advanced Micro Devices Stock Performance

The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $227.84 billion, a PE ratio of 126.79, a PEG ratio of 1.99 and a beta of 1.71. The business has a 50 day simple moving average of $154.55 and a 200 day simple moving average of $155.43.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, hitting analysts’ consensus estimates of $0.92. The company had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. Advanced Micro Devices’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same period last year, the business earned $0.53 EPS. Equities research analysts predict that Advanced Micro Devices, Inc. will post 2.53 EPS for the current fiscal year.

Insider Activity at Advanced Micro Devices

In other news, CEO Lisa T. Su sold 80,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 3,566,762 shares in the company, valued at $513,150,048.94. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Forrest Eugene Norrod sold 40,540 shares of Advanced Micro Devices 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 completion of the transaction, the executive vice president now directly owns 293,347 shares in the company, valued at approximately $41,558,469.49. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Lisa T. Su sold 80,000 shares of the firm’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 transaction of $11,509,600.00. Following the sale, the chief executive officer now directly owns 3,566,762 shares in the company, valued at $513,150,048.94. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is owned by insiders.

Institutional Trading of Advanced Micro Devices

Hedge funds have recently added to or reduced their stakes in the company. Harvest Portfolios Group Inc. grew its holdings in Advanced Micro Devices by 4.4% in the third quarter. Harvest Portfolios Group Inc. now owns 146,445 shares of the semiconductor manufacturer’s stock valued at $24,029,000 after purchasing an additional 6,168 shares during the period. Principal Financial Group Inc. lifted its holdings in Advanced Micro Devices by 30.2% during the third quarter. Principal Financial Group Inc. now owns 2,537,968 shares of the semiconductor manufacturer’s stock valued at $416,430,000 after purchasing an additional 588,595 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Advanced Micro Devices by 59.9% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 309,561 shares of the semiconductor manufacturer’s stock valued at $50,214,000 after purchasing an additional 116,020 shares during the period. Hartline Investment Corp increased its stake in shares of Advanced Micro Devices by 6.2% during the third quarter. Hartline Investment Corp now owns 220,197 shares of the semiconductor manufacturer’s stock worth $36,130,000 after purchasing an additional 12,837 shares in the last quarter. Finally, Laffer Tengler Investments Inc. increased its stake in Advanced Micro Devices by 3,139.2% during the 3rd quarter. Laffer Tengler Investments Inc. now owns 10,236 shares of the semiconductor manufacturer’s stock worth $1,680,000 after buying an additional 9,920 shares in the last quarter. 71.34% of the stock is owned by hedge funds and other 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.