Advanced Micro Devices (NASDAQ:AMD) Shares Down 1.4%

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price was down 1.4% on Wednesday . The stock traded as low as $157.98 and last traded at $158.05. Approximately 9,670,217 shares traded hands during trading, a decline of 85% from the average daily volume of 65,256,883 shares. The stock had previously closed at $160.25.

Analysts Set New Price Targets

AMD has been the topic of a number of recent analyst reports. Cantor Fitzgerald cut their price target on shares of Advanced Micro Devices from $190.00 to $170.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Jefferies Financial Group assumed coverage on Advanced Micro Devices in a research note on Monday, May 13th. They issued a “buy” rating and a $190.00 target price for the company. KeyCorp dropped their price target on Advanced Micro Devices from $270.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Morgan Stanley cut Advanced Micro Devices from an “overweight” rating to an “equal weight” rating and set a $176.00 price objective for the company. in a research note on Monday, June 10th. Finally, UBS Group dropped their target price on Advanced Micro Devices from $205.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $190.83.

Advanced Micro Devices Price Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 2.64 and a quick ratio of 1.92. The stock has a market capitalization of $257.75 billion, a price-to-earnings ratio of 234.52, a price-to-earnings-growth ratio of 1.85 and a beta of 1.69. The stock has a 50 day moving average price of $158.72 and a 200-day moving average price of $164.71.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.01. Advanced Micro Devices had a net margin of 4.89% and a return on equity of 5.72%. The company had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.48 billion. During the same quarter in the previous year, the company posted $0.43 EPS. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. On average, analysts forecast that Advanced Micro Devices, Inc. will post 2.61 earnings per share for the current year.

Insider Activity

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,200 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $158.94, for a total value of $2,574,828.00. Following the completion of the sale, the executive vice president now directly owns 1,546,227 shares in the company, valued at approximately $245,757,319.38. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

Institutional investors and hedge funds have recently bought and sold shares of the company. Tradewinds Capital Management LLC raised its position in Advanced Micro Devices by 102.9% in the first quarter. Tradewinds Capital Management LLC now owns 140 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 71 shares during the period. Spartan Planning & Wealth Management acquired a new stake in shares of Advanced Micro Devices during the 3rd quarter worth about $27,000. Northwest Bank & Trust Co purchased a new stake in Advanced Micro Devices in the 4th quarter valued at about $28,000. Semmax Financial Advisors Inc. lifted its position in Advanced Micro Devices by 926.7% in the first quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer’s stock valued at $28,000 after buying an additional 139 shares during the last quarter. Finally, Bare Financial Services Inc purchased a new position in Advanced Micro Devices during the fourth quarter worth about $29,000. 71.34% of the stock is currently 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.