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

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price was down 1.3% on Monday . The stock traded as low as $123.12 and last traded at $125.27. Approximately 15,732,225 shares were traded during trading, a decline of 71% from the average daily volume of 53,714,383 shares. The stock had previously closed at $126.91.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AMD. Benchmark reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a research note on Thursday, October 31st. TD Cowen decreased their price target on shares of Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Mizuho reduced their price objective on Advanced Micro Devices from $185.00 to $180.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Bank of America cut Advanced Micro Devices from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $180.00 to $155.00 in a research note on Monday, December 9th. Finally, Piper Sandler reissued an “overweight” rating and set a $180.00 target price (down from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $192.36.

Advanced Micro Devices Trading Down 1.3 %

The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78. The firm has a market cap of $202.88 billion, a P/E ratio of 112.63, a PEG ratio of 1.88 and a beta of 1.65. The company’s 50 day moving average is $144.88 and its two-hundred day moving average is $151.35.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, hitting the consensus estimate of $0.92. The company had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.71 billion. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. Advanced Micro Devices’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.53 EPS. On average, sell-side analysts predict that Advanced Micro Devices, Inc. will post 2.54 earnings per share 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 sale, the executive vice president now directly owns 293,347 shares in the company, valued at $41,558,469.49. This represents a 12.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Lisa T. Su sold 80,000 shares of Advanced Micro Devices 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 transaction, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at approximately $513,150,048.94. The trade was a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 197,036 shares of company stock valued at $28,165,821 in the last 90 days. 0.73% of the stock is currently owned by company insiders.

Institutional Trading of Advanced Micro Devices

Several hedge funds have recently modified their holdings of AMD. Charles Schwab Investment Management Inc. grew its holdings in Advanced Micro Devices by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,656,965 shares of the semiconductor manufacturer’s stock worth $1,584,515,000 after acquiring an additional 177,700 shares during the last quarter. Swiss National Bank lifted its position in shares of Advanced Micro Devices by 0.3% during the third quarter. Swiss National Bank now owns 4,797,575 shares of the semiconductor manufacturer’s stock worth $787,186,000 after purchasing an additional 12,500 shares in the last quarter. Shum Financial Group Inc. bought a new stake in shares of Advanced Micro Devices during the third quarter valued at approximately $858,000. Geode Capital Management LLC increased its holdings in shares of Advanced Micro Devices by 1.3% in the third quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock valued at $5,597,337,000 after purchasing an additional 441,924 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Advanced Micro Devices by 2.3% in the third 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. 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.