Advanced Micro Devices (NASDAQ:AMD) Trading Down 1.3% – What’s Next?

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price fell 1.3% during mid-day trading on Wednesday . The stock traded as low as $120.14 and last traded at $120.79. 30,077,398 shares changed hands during trading, a decline of 43% from the average session volume of 53,218,793 shares. The stock had previously closed at $122.44.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Barclays cut their price target on shares of Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Bank of America cut Advanced Micro Devices from a “buy” rating to a “neutral” rating and reduced their target price for the company from $180.00 to $155.00 in a research note on Monday, December 9th. Evercore ISI lifted their price target on Advanced Micro Devices from $193.00 to $198.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. TD Cowen reduced their price objective on Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Finally, UBS Group dropped their target price on Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $191.96.

Advanced Micro Devices Stock Performance

The company has a 50-day simple moving average of $136.07 and a two-hundred day simple moving average of $148.19. 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 firm has a market capitalization of $195.76 billion, a P/E ratio of 108.68, a PEG ratio of 1.88 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, hitting 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 during the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter in the prior year, the company earned $0.53 earnings per share. The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. As a group, equities analysts forecast 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 stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the sale, the executive vice president now directly 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 document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Lisa T. Su sold 80,000 shares of Advanced Micro Devices 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 completion of the transaction, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at $513,150,048.94. This trade represents a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 197,036 shares of company stock valued at $28,165,821 over the last quarter. Corporate insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

Institutional investors and hedge funds have recently made changes to their positions in the company. Creative Capital Management Investments LLC raised its position in 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 buying an additional 86 shares during the last quarter. ZRC Wealth Management LLC grew its stake in shares of Advanced Micro Devices by 90.4% in the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 75 shares during the period. Fairway Wealth LLC purchased a new position in shares of Advanced Micro Devices during the second quarter valued at approximately $27,000. Global Wealth Strategies & Associates purchased a new position in shares of Advanced Micro Devices during the fourth quarter valued at approximately $26,000. Finally, Abich Financial Wealth Management LLC lifted its position in Advanced Micro Devices by 101.8% during the second 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 during the period. Institutional investors own 71.34% of the company’s stock.

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.