Advanced Micro Devices (NASDAQ:AMD) Stock Price Down 1.7% – Here’s Why

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) fell 1.7% during trading on Monday . The stock traded as low as $122.35 and last traded at $123.09. 9,944,544 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 53,224,297 shares. The stock had previously closed at $125.19.

Wall Street Analyst Weigh In

AMD has been the topic of several recent research reports. Barclays reduced their price objective on Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. UBS Group decreased their price target on shares of Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Mizuho cut their price objective on shares of Advanced Micro Devices from $185.00 to $180.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Bank of America lowered shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $180.00 to $155.00 in a research report on Monday, December 9th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price target 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 assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $191.96.

Advanced Micro Devices Stock Performance

The company has a fifty day moving average of $138.75 and a two-hundred day moving average of $149.11. The stock has a market capitalization of $200.16 billion, a P/E ratio of 111.12, a price-to-earnings-growth ratio of 1.88 and a beta of 1.65. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share 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 net margin of 7.52% and a return on equity of 6.62%. The firm’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 earnings per share. On average, equities analysts anticipate that Advanced Micro Devices, Inc. will post 2.54 EPS for the current year.

Insider Buying and Selling

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 completion of the sale, the executive vice president now owns 293,347 shares of the company’s stock, valued at $41,558,469.49. This represents a 12.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Lisa T. Su sold 80,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were 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 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 197,036 shares of company stock valued at $28,165,821 in the last quarter. Company insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AMD. B. Riley Wealth Advisors Inc. grew its position in Advanced Micro Devices by 2.2% in the third quarter. B. Riley Wealth Advisors Inc. now owns 60,761 shares of the semiconductor manufacturer’s stock worth $9,937,000 after buying an additional 1,279 shares during the last quarter. DGS Capital Management LLC increased its position in shares of Advanced Micro Devices by 98.7% in the third quarter. DGS Capital Management LLC now owns 2,452 shares of the semiconductor manufacturer’s stock worth $402,000 after acquiring an additional 1,218 shares in the last quarter. Inspire Trust Co. N.A. raised its holdings in shares of Advanced Micro Devices by 68.7% during the third quarter. Inspire Trust Co. N.A. now owns 33,000 shares of the semiconductor manufacturer’s stock valued at $5,415,000 after acquiring an additional 13,441 shares during the period. Synovus Financial Corp lifted 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 acquiring an additional 7,006 shares in the last quarter. Finally, Destination Wealth Management boosted its stake in Advanced Micro Devices by 32.4% in the 3rd quarter. Destination Wealth Management now owns 11,680 shares of the semiconductor manufacturer’s stock worth $1,916,000 after purchasing an additional 2,855 shares during the period. 71.34% of the stock is owned by institutional investors and hedge funds.

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.