Advanced Micro Devices (NASDAQ:AMD) Shares Down 1.1% – Here’s What Happened

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares dropped 1.1% on Thursday . The stock traded as low as $132.96 and last traded at $136.24. Approximately 30,097,938 shares changed hands during trading, a decline of 45% from the average daily volume of 54,698,379 shares. The stock had previously closed at $137.72.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on AMD shares. BNP Paribas upgraded shares of Advanced Micro Devices to a “strong-buy” rating in a report on Wednesday, July 31st. Truist Financial lowered their price target on shares of Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating on the stock in a research note on Wednesday, July 31st. Barclays reduced 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 note on Wednesday, October 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $180.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Finally, UBS Group dropped their target price on Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $192.79.

Advanced Micro Devices Stock Down 1.1 %

The company has a market cap of $221.09 billion, a price-to-earnings ratio of 122.74, a P/E/G ratio of 1.95 and a beta of 1.71. 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 50-day moving average price of $152.94 and a 200 day moving average price of $154.28.

Advanced Micro Devices (NASDAQ:AMD) last released 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 business 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% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 EPS. Sell-side analysts predict 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 that occurred on 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 completion of the sale, the chief executive officer now directly 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’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 in the company, 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. 0.65% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Advanced Micro Devices

Several institutional investors and hedge funds have recently bought and sold shares of the company. Synovus Financial Corp raised its position in shares of Advanced Micro Devices by 26.2% in the 3rd quarter. Synovus Financial Corp now owns 33,769 shares of the semiconductor manufacturer’s stock valued at $5,541,000 after buying an additional 7,006 shares in the last quarter. Destination Wealth Management boosted its position in shares of Advanced Micro Devices by 32.4% during 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. Wilmington Savings Fund Society FSB increased its stake in Advanced Micro Devices by 189.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 16,095 shares of the semiconductor manufacturer’s stock valued at $2,641,000 after acquiring an additional 10,539 shares during the last quarter. Sfmg LLC raised its position in Advanced Micro Devices by 109.8% during the third quarter. Sfmg LLC now owns 52,789 shares of the semiconductor manufacturer’s stock valued at $8,662,000 after purchasing an additional 27,633 shares in the last quarter. Finally, World Investment Advisors LLC lifted its stake in Advanced Micro Devices by 430.6% during the third quarter. World Investment Advisors LLC now owns 61,505 shares of the semiconductor manufacturer’s stock worth $10,092,000 after purchasing an additional 49,913 shares during the last quarter. 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.