Advanced Micro Devices (NASDAQ:AMD) Stock Price Down 0.8% – What’s Next?

Advanced Micro Devices, Inc. (NASDAQ:AMD) fell 0.8% on Wednesday . The company traded as low as $151.33 and last traded at $152.88. 8,081,621 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 56,948,941 shares. The stock had previously closed at $154.09.

Wall Street Analysts Forecast Growth

AMD has been the subject of several recent research reports. Susquehanna reissued a “positive” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, July 31st. Wells Fargo & Company raised their target price on Advanced Micro Devices from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Citigroup boosted their price target on Advanced Micro Devices from $176.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Morgan Stanley increased their price objective on Advanced Micro Devices from $176.00 to $178.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Finally, Edward Jones started coverage on shares of Advanced Micro Devices in a research note on Tuesday, August 20th. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $195.00.

Advanced Micro Devices Price Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.01 and a current ratio of 2.82. The company has a 50-day moving average price of $154.54 and a 200-day moving average price of $156.45. The firm has a market capitalization of $244.74 billion, a P/E ratio of 224.24, a price-to-earnings-growth ratio of 2.33 and a beta of 1.70.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.01. The company had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.72 billion. Advanced Micro Devices had a return on equity of 5.98% and a net margin of 5.82%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.40 EPS. On average, sell-side analysts predict that Advanced Micro Devices, Inc. will post 2.56 earnings per share for the current year.

Institutional Investors Weigh In On Advanced Micro Devices

A number of hedge funds have recently modified their holdings of AMD. Vanguard Group Inc. increased its holdings in Advanced Micro Devices by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 144,794,666 shares of the semiconductor manufacturer’s stock worth $26,133,989,000 after purchasing an additional 2,349,288 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Advanced Micro Devices by 1.4% during the second quarter. Legal & General Group Plc now owns 13,310,158 shares of the semiconductor manufacturer’s stock worth $2,159,039,000 after buying an additional 188,580 shares during the period. Van ECK Associates Corp raised its position in Advanced Micro Devices by 52.6% in the 2nd quarter. Van ECK Associates Corp now owns 8,645,658 shares of the semiconductor manufacturer’s stock valued at $1,402,412,000 after buying an additional 2,979,204 shares during the last quarter. Assenagon Asset Management S.A. lifted 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 valued at $1,381,679,000 after acquiring an additional 2,497,056 shares in the last quarter. Finally, GQG Partners LLC boosted its position in Advanced Micro Devices by 5.0% during the 1st quarter. GQG Partners LLC now owns 8,044,462 shares of the semiconductor manufacturer’s stock worth $1,451,945,000 after acquiring an additional 382,582 shares during the last quarter. 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.