Advanced Micro Devices (NASDAQ:AMD) Shares Down 2.4% – Here’s Why

Advanced Micro Devices, Inc. (NASDAQ:AMD) dropped 2.4% on Tuesday . The stock traded as low as $153.08 and last traded at $154.06. Approximately 11,896,118 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 57,071,605 shares. The stock had previously closed at $157.90.

Analyst Ratings Changes

Several equities research analysts have issued reports on AMD shares. Piper Sandler lifted their target price on shares of Advanced Micro Devices from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Susquehanna reissued a “positive” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Roth Mkm reaffirmed a “buy” rating and set a $200.00 price target on shares of Advanced Micro Devices in a research report on Friday, October 11th. Truist Financial decreased their price objective on Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating on the stock in a report on Wednesday, July 31st. Finally, BNP Paribas raised Advanced Micro Devices to a “strong-buy” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $195.00.

Advanced Micro Devices Price Performance

The company has a fifty day moving average price of $154.79 and a two-hundred day moving average price of $156.43. The firm has a market capitalization of $247.15 billion, a PE ratio of 224.87, a P/E/G ratio of 2.33 and a beta of 1.70. The company has a current ratio of 2.82, a quick ratio of 2.01 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.01. The business had revenue of $5.84 billion during the quarter, compared to the consensus estimate 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 was up 8.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.40 earnings per share. Sell-side analysts forecast 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 institutional investors and hedge funds have recently made changes to their positions in AMD. Vanguard Group Inc. lifted its position 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 acquiring an additional 2,349,288 shares during the period. Legal & General Group Plc grew its position in Advanced Micro Devices by 1.4% in the 2nd quarter. Legal & General Group Plc now owns 13,310,158 shares of the semiconductor manufacturer’s stock valued at $2,159,039,000 after buying an additional 188,580 shares during the last quarter. Van ECK Associates Corp increased its stake 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 period. Assenagon Asset Management S.A. lifted its stake in shares of 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 worth $1,381,679,000 after acquiring an additional 2,497,056 shares during the period. Finally, GQG Partners LLC boosted its holdings in shares of Advanced Micro Devices by 5.0% in the first quarter. GQG Partners LLC now owns 8,044,462 shares of the semiconductor manufacturer’s stock valued at $1,451,945,000 after acquiring an additional 382,582 shares in the last quarter. 71.34% of the stock is owned by hedge funds and other institutional investors.

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.