Advanced Micro Devices (NASDAQ:AMD) Stock Price Down 1.1% – Here’s Why

Advanced Micro Devices, Inc. (NASDAQ:AMD) dropped 1.1% during mid-day trading on Friday . The company traded as low as $104.33 and last traded at $105.93. Approximately 10,058,840 shares traded hands during trading, a decline of 77% from the average daily volume of 43,574,434 shares. The stock had previously closed at $107.14.

Analysts Set New Price Targets

AMD has been the topic of a number of analyst reports. Citigroup reaffirmed a “buy” rating on shares of Advanced Micro Devices in a research report on Wednesday, February 19th. Piper Sandler reiterated an “overweight” rating on shares of Advanced Micro Devices in a research note on Wednesday, February 19th. HSBC reiterated a “reduce” rating and issued a $110.00 price target (down from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, January 8th. Melius downgraded Advanced Micro Devices from a “buy” rating to a “hold” rating and decreased their price target for the stock from $160.00 to $129.00 in a research note on Tuesday, January 28th. Finally, Roth Capital set a $140.00 price target on Advanced Micro Devices in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, nineteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $155.14.

Advanced Micro Devices Price Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 2.62 and a quick ratio of 1.83. The stock’s fifty day simple moving average is $110.28 and its 200-day simple moving average is $131.84. The company has a market capitalization of $172.48 billion, a P/E ratio of 107.52, a PEG ratio of 1.11 and a beta of 1.74.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 earnings per share for the quarter, meeting the consensus estimate of $1.07. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. On average, equities analysts forecast that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Insider Activity at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Philip Guido purchased 4,645 shares of the business’s stock in a transaction on Friday, February 7th. The stock was purchased at an average price of $107.56 per share, for a total transaction of $499,616.20. Following the completion of the purchase, the executive vice president now directly owns 33,522 shares in the company, valued at approximately $3,605,626.32. This trade represents a 16.09 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.73% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bear Mountain Capital Inc. acquired a new stake in shares of Advanced Micro Devices during the fourth quarter worth approximately $25,000. Global Wealth Strategies & Associates acquired a new stake in shares of Advanced Micro Devices during the fourth quarter worth approximately $26,000. Greenline Partners LLC acquired a new stake in shares of Advanced Micro Devices during the fourth quarter worth approximately $28,000. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Advanced Micro Devices during the fourth quarter worth approximately $29,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in shares of Advanced Micro Devices during the fourth quarter worth approximately $30,000. 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.