Advanced Micro Devices (NASDAQ:AMD) Stock Price Down 0.5% – What’s Next?

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price fell 0.5% on Tuesday . The stock traded as low as $121.83 and last traded at $121.85. 9,461,058 shares changed hands during trading, a decline of 82% from the average session volume of 53,131,488 shares. The stock had previously closed at $122.44.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AMD. Citigroup dropped their target price on shares of Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Bank of America downgraded Advanced Micro Devices from a “buy” rating to a “neutral” rating and cut their price objective for the company from $180.00 to $155.00 in a research report on Monday, December 9th. Morgan Stanley reduced their price objective on Advanced Micro Devices from $169.00 to $158.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $180.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. Finally, Barclays decreased their target price on shares of Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating for the company in a 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 given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $191.96.

Advanced Micro Devices Stock Down 1.7 %

The stock has a market cap of $195.34 billion, a P/E ratio of 108.44, a PEG ratio of 1.88 and a beta of 1.65. 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 business has a 50-day simple moving average of $138.04 and a 200-day simple moving average of $148.85.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.92. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The firm had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same quarter last year, the firm posted $0.53 EPS. The company’s revenue was up 17.6% on a year-over-year basis. Analysts expect that Advanced Micro Devices, Inc. will post 2.54 EPS for the current year.

Insider Activity at Advanced Micro Devices

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of the company’s stock in a transaction dated 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 $41,558,469.49. The trade was a 12.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Lisa T. Su sold 80,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the transaction, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at approximately $513,150,048.94. This represents a 2.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 197,036 shares of company stock worth $28,165,821 in the last ninety days. 0.73% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Advanced Micro Devices

Hedge funds have recently modified their holdings of the stock. Creative Capital Management Investments LLC boosted its position in Advanced Micro Devices by 124.6% in the third quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 86 shares in the last quarter. ZRC Wealth Management LLC boosted its holdings in shares of Advanced Micro Devices by 90.4% in the 3rd quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 75 shares in the last quarter. Fairway Wealth LLC bought a new stake in Advanced Micro Devices during the 2nd quarter worth approximately $27,000. Abich Financial Wealth Management LLC increased its holdings in Advanced Micro Devices by 101.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 220 shares of the semiconductor manufacturer’s stock valued at $36,000 after purchasing an additional 111 shares in the last quarter. Finally, FSA Wealth Management LLC bought a new position in Advanced Micro Devices in the 3rd quarter valued at $41,000. 71.34% of the stock is owned by institutional investors and hedge funds.

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.