Advanced Micro Devices (NASDAQ:AMD) Shares Down 1.2% – Here’s Why

by · The Cerbat Gem

Advanced Micro Devices, Inc. (NASDAQ:AMD – Get Free Report) was down 1.2% on Thursday . The company traded as low as $119.45 and last traded at $119.98. Approximately 14,141,665 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 53,595,902 shares. The stock had previously closed at $121.41.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AMD. Evercore ISI lifted their price objective on shares of Advanced Micro Devices from $193.00 to $198.00 and gave the stock an “outperform” rating in a research note 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. Barclays reduced their target price on Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Benchmark restated a “buy” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a report on Thursday, October 31st. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 target price on shares of Advanced Micro Devices in a report on Monday, October 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $191.96.

Check Out Our Latest Analysis on Advanced Micro Devices

Advanced Micro Devices Trading Up 0.3 %

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 company’s 50 day moving average is $142.00 and its 200 day moving average is $150.61. The stock has a market capitalization of $193.45 billion, a price-to-earnings ratio of 107.40, a PEG ratio of 1.88 and a beta of 1.65.

Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last released its quarterly earnings data 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 business had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same period in the previous year, the business posted $0.53 earnings per share. Advanced Micro Devices’s quarterly revenue was up 17.6% on a year-over-year basis. On average, research analysts forecast that Advanced Micro Devices, Inc. will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of Advanced Micro Devices stock in a transaction dated 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 completion of the transaction, the executive vice president now directly 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 filing with the SEC, which is available through the SEC website. Also, CEO Lisa T. Su sold 76,496 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total transaction of $10,912,919.36. Following the completion of the sale, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at $508,834,266.92. The trade was a 2.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 197,036 shares of company stock valued at $28,165,821 over the last quarter. Corporate insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

Several large investors have recently made changes to their positions in the company. Creative Capital Management Investments LLC boosted its position in shares of Advanced Micro Devices by 124.6% in the 3rd quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 86 shares during the last quarter. ZRC Wealth Management LLC increased its stake 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 valued at $26,000 after acquiring an additional 75 shares during the last quarter. Morton Brown Family Wealth LLC raised its position in shares of Advanced Micro Devices by 94.4% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock valued at $27,000 after acquiring an additional 85 shares during the period. Fairway Wealth LLC bought a new position in Advanced Micro Devices during the 2nd quarter worth approximately $27,000. Finally, Ridgewood Investments LLC bought a new stake in Advanced Micro Devices in the second quarter valued at approximately $35,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

Advanced Micro Devices Company Profile

(Get Free Report)

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.

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