Advanced Micro Devices (NASDAQ:AMD) Trading Down 1.3% – What’s Next?

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) were down 1.3% during trading on Wednesday . The stock traded as low as $120.14 and last traded at $120.79. Approximately 30,077,398 shares changed hands during mid-day trading, a decline of 43% from the average daily volume of 53,218,793 shares. The stock had previously closed at $122.44.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on AMD shares. TD Cowen cut their price objective on Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Roth Mkm reissued a “buy” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a report on Friday, October 11th. Morgan Stanley decreased their price objective on Advanced Micro Devices from $169.00 to $158.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Bank of America cut shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $180.00 to $155.00 in a research note on Monday, December 9th. Finally, Barclays cut their price objective on shares of Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and an average price target of $191.96.

Advanced Micro Devices Trading Down 1.3 %

The firm’s 50 day simple moving average is $137.37 and its 200-day simple moving average is $148.58. 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 $196.02 billion, a PE ratio of 108.82, a P/E/G ratio of 1.88 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.92. The firm had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.71 billion. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.53 EPS. As a group, equities research analysts anticipate that Advanced Micro Devices, Inc. will post 2.54 EPS for the current year.

Insider Activity at Advanced Micro Devices

In related news, CEO Lisa T. Su sold 80,000 shares of the business’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 transaction, the chief executive officer now owns 3,566,762 shares in the company, valued at approximately $513,150,048.94. The trade was a 2.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were 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 owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. This trade represents a 12.14 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 197,036 shares of company stock worth $28,165,821. 0.65% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Advanced Micro Devices

Institutional investors have recently made changes to their positions in the business. B. Riley Wealth Advisors Inc. increased its position in shares of Advanced Micro Devices by 2.2% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 60,761 shares of the semiconductor manufacturer’s stock worth $9,937,000 after purchasing an additional 1,279 shares during the last quarter. DGS Capital Management LLC increased its holdings in Advanced Micro Devices by 98.7% in the third quarter. DGS Capital Management LLC now owns 2,452 shares of the semiconductor manufacturer’s stock valued at $402,000 after buying an additional 1,218 shares during the last quarter. Inspire Trust Co. N.A. raised its stake in Advanced Micro Devices by 68.7% during the third quarter. Inspire Trust Co. N.A. now owns 33,000 shares of the semiconductor manufacturer’s stock valued at $5,415,000 after buying an additional 13,441 shares in the last quarter. Synovus Financial Corp lifted its holdings in Advanced Micro Devices by 26.2% during the 3rd quarter. Synovus Financial Corp now owns 33,769 shares of the semiconductor manufacturer’s stock worth $5,541,000 after buying an additional 7,006 shares during the last quarter. Finally, Destination Wealth Management grew its position in shares of Advanced Micro Devices by 32.4% in the 3rd quarter. Destination Wealth Management now owns 11,680 shares of the semiconductor manufacturer’s stock worth $1,916,000 after acquiring an additional 2,855 shares in the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

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.