Advanced Micro Devices (NASDAQ:AMD) Shares Down 2.2% – Here’s What Happened

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) were down 2.2% on Friday . The stock traded as low as $135.46 and last traded at $135.80. Approximately 11,859,201 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 55,465,324 shares. The stock had previously closed at $138.84.

Wall Street Analyst Weigh In

AMD has been the subject of a number of recent analyst reports. Susquehanna reaffirmed a “positive” rating and set a $200.00 price target on shares of Advanced Micro Devices in a report on Wednesday, July 31st. Robert W. Baird cut their price target on Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. TD Cowen lowered their price objective on Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $180.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. Finally, 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $192.79.

Advanced Micro Devices Stock Down 2.4 %

The stock has a 50-day simple moving average of $154.50 and a 200-day simple moving average of $155.20. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. The company has a market cap of $219.92 billion, a price-to-earnings ratio of 122.41, a price-to-earnings-growth ratio of 1.93 and a beta of 1.71.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, meeting the consensus estimate of $0.92. The firm had revenue of $6.82 billion for 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 quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter last year, the company earned $0.53 EPS. As a group, analysts predict that Advanced Micro Devices, Inc. will post 2.53 EPS for the current year.

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 40,540 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total value of $5,743,301.80. Following the transaction, the executive vice president now owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. This represents a 12.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Lisa T. Su sold 80,000 shares of the 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 sale, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at $513,150,048.94. This trade represents a 2.19 % decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by corporate insiders.

Institutional Trading of Advanced Micro Devices

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Semmax Financial Advisors Inc. boosted its stake in Advanced Micro Devices by 926.7% in the 1st 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. Creative Capital Management Investments LLC lifted its holdings in shares of 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 purchasing an additional 86 shares in the last quarter. ZRC Wealth Management LLC boosted its position in shares of Advanced Micro Devices by 90.4% in the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 75 shares during the period. Fairway Wealth LLC purchased a new position in shares of Advanced Micro Devices during the second quarter valued at $27,000. Finally, Morton Brown Family Wealth LLC raised its position in Advanced Micro Devices by 94.4% during the second quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock valued at $27,000 after buying an additional 85 shares during the period. Institutional investors and hedge funds own 71.34% of the company’s stock.

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.