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

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) 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 mid-day trading, a decline of 82% from the average session volume of 53,131,488 shares. The stock had previously closed at $122.44.

Wall Street Analyst Weigh In

AMD has been the topic of several research reports. Mizuho cut their target price on Advanced Micro Devices from $185.00 to $180.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Morgan Stanley cut their price target on shares of Advanced Micro Devices from $169.00 to $158.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Roth Mkm reiterated a “buy” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research note on Friday, October 11th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of Advanced Micro Devices in a research note on Monday, October 28th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $180.00 price target (down from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.96.

Advanced Micro Devices Trading Down 1.3 %

The business’s 50 day moving average is $136.73 and its two-hundred day moving average is $148.38. The firm has a market capitalization of $196.02 billion, a P/E ratio of 108.82, a PEG ratio of 1.88 and a beta of 1.66. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.92. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The company had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same period in the prior year, the company earned $0.53 EPS. Advanced Micro Devices’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 Transactions at Advanced Micro Devices

In other news, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. This represents a 12.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Lisa T. Su sold 80,000 shares of the company’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 sale, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at $513,150,048.94. The trade was 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 valued at $28,165,821 over the last quarter. Company insiders own 0.65% of the company’s stock.

Institutional Trading of Advanced Micro Devices

Several hedge funds have recently added to or reduced their stakes in the business. Christopher J. Hasenberg Inc increased its stake in Advanced Micro Devices by 12.0% in the third quarter. Christopher J. Hasenberg Inc now owns 560 shares of the semiconductor manufacturer’s stock valued at $97,000 after acquiring an additional 60 shares during the last quarter. Wealth Effects LLC increased its stake in shares of Advanced Micro Devices by 0.7% in the 3rd quarter. Wealth Effects LLC now owns 9,419 shares of the semiconductor manufacturer’s stock valued at $1,545,000 after purchasing an additional 65 shares during the last quarter. Jacobsen Capital Management raised its holdings in shares of Advanced Micro Devices by 2.1% during the 3rd quarter. Jacobsen Capital Management now owns 3,378 shares of the semiconductor manufacturer’s stock worth $554,000 after buying an additional 70 shares in the last quarter. Sigma Investment Counselors Inc. boosted its stake in Advanced Micro Devices by 5.3% in the third quarter. Sigma Investment Counselors Inc. now owns 1,482 shares of the semiconductor manufacturer’s stock valued at $243,000 after buying an additional 74 shares in the last quarter. Finally, Bedell Frazier Investment Counselling LLC grew its position in Advanced Micro Devices by 4.3% in the third quarter. Bedell Frazier Investment Counselling LLC now owns 1,780 shares of the semiconductor manufacturer’s stock valued at $292,000 after acquiring an additional 74 shares during the last quarter. 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.