Advanced Micro Devices (NASDAQ:AMD) Shares Down 0.5% – Time to Sell?

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price dropped 0.5% on Thursday . The company traded as low as $120.63 and last traded at $123.08. Approximately 8,439,298 shares changed hands during trading, a decline of 77% from the average daily volume of 36,988,133 shares. The stock had previously closed at $123.75.

Analyst Ratings Changes

A number of analysts have issued reports on AMD shares. The Goldman Sachs Group downgraded shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and reduced their price target for the company from $175.00 to $129.00 in a report on Friday, January 10th. Piper Sandler reiterated an “overweight” rating and issued a $180.00 target price (down from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. TD Cowen cut their price target on Advanced Micro Devices from $185.00 to $150.00 and set a “buy” rating for the company in a report on Monday, January 13th. HSBC reaffirmed a “reduce” rating and set a $110.00 price objective (down from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, January 8th. Finally, Bank of America lowered shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and cut their target price for the company from $180.00 to $155.00 in a report on Monday, December 9th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $176.33.

Advanced Micro Devices Stock Performance

The stock has a market cap of $199.35 billion, a P/E ratio of 110.67, a price-to-earnings-growth ratio of 1.09 and a beta of 1.66. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50. The firm’s 50 day moving average is $128.12 and its 200 day moving average is $143.73.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data 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 during 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%. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.53 EPS. Analysts anticipate that Advanced Micro Devices, Inc. will post 2.54 EPS for the current year.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 40,540 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the sale, the executive vice president now owns 293,347 shares in the company, valued at approximately $41,558,469.49. The trade was a 12.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lisa T. Su sold 76,496 shares of Advanced Micro Devices stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $142.66, for a total value of $10,912,919.36. Following the sale, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at $508,834,266.92. This trade represents a 2.10 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 197,036 shares of company stock valued at $28,165,821. 0.73% of the stock is currently owned by corporate insiders.

Institutional Trading of Advanced Micro Devices

Hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its holdings in Advanced Micro Devices by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 9,656,965 shares of the semiconductor manufacturer’s stock valued at $1,584,515,000 after buying an additional 177,700 shares in the last quarter. Swiss National Bank grew its position in shares of Advanced Micro Devices by 0.3% during the 3rd quarter. Swiss National Bank now owns 4,797,575 shares of the semiconductor manufacturer’s stock valued at $787,186,000 after acquiring an additional 12,500 shares during the period. Shum Financial Group Inc. purchased a new position in shares of Advanced Micro Devices in the 3rd quarter valued at about $858,000. State Street Corp raised its holdings in Advanced Micro Devices by 2.3% in the 3rd quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after purchasing an additional 1,580,035 shares during the period. Finally, Geode Capital Management LLC boosted its position in Advanced Micro Devices by 1.3% during the third quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock worth $5,597,337,000 after purchasing an additional 441,924 shares in the last quarter. Hedge funds and other institutional investors 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.