Advanced Micro Devices (NASDAQ:AMD) Shares Down 1.4% – Here’s What Happened

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares dropped 1.4% during mid-day trading on Thursday . The company traded as low as $134.93 and last traded at $135.66. Approximately 9,897,696 shares traded hands during trading, a decline of 82% from the average daily volume of 55,072,191 shares. The stock had previously closed at $137.60.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AMD. Wedbush reaffirmed an “outperform” rating and issued a $200.00 price objective 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 report on Wednesday, July 31st. Benchmark reissued a “buy” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a report on Thursday, October 31st. Edward Jones started coverage on Advanced Micro Devices in a research note on Tuesday, August 20th. They issued a “buy” rating on the stock. Finally, TD Cowen dropped their price objective on shares of Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $192.79.

Advanced Micro Devices Stock Up 0.6 %

The firm has a 50-day moving average of $153.67 and a two-hundred day moving average of $154.58. 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 $224.52 billion, a PE ratio of 124.64, a price-to-earnings-growth ratio of 1.93 and a beta of 1.71.

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, hitting the consensus estimate of $0.92. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The firm had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same period in the prior year, the business posted $0.53 EPS. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. Equities research analysts predict that Advanced Micro Devices, Inc. will post 2.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, CEO Lisa T. Su sold 80,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the business’s stock in a transaction on 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 completion of the transaction, 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. 0.73% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Advanced Micro Devices

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Creative Capital Management Investments LLC grew its holdings in Advanced Micro Devices by 124.6% during the 3rd quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 86 shares in the last quarter. ZRC Wealth Management LLC lifted its position in shares of Advanced Micro Devices by 90.4% during the 3rd quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 75 shares during the last quarter. Morton Brown Family Wealth LLC grew its stake in shares of 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 worth $27,000 after purchasing an additional 85 shares in the last quarter. Fairway Wealth LLC purchased a new position in Advanced Micro Devices in the second quarter valued at $27,000. Finally, Semmax Financial Advisors Inc. raised its stake in Advanced Micro Devices by 926.7% in the first quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer’s stock valued at $28,000 after buying an additional 139 shares in the last quarter. Hedge funds and other institutional investors 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.