Advanced Micro Devices (NASDAQ:AMD) Trading Down 0.7%

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares were down 0.7% during mid-day trading on Wednesday . The stock traded as low as $148.93 and last traded at $149.82. Approximately 6,603,154 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 60,036,867 shares. The stock had previously closed at $150.82.

Analysts Set New Price Targets

A number of brokerages have commented on AMD. Barclays decreased their price objective on Advanced Micro Devices from $235.00 to $180.00 and set an “overweight” rating on the stock in a report on Monday, July 29th. Citigroup upped their price target on shares of Advanced Micro Devices from $176.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Edward Jones initiated coverage on shares of Advanced Micro Devices in a report on Tuesday, August 20th. They set a “buy” rating on the stock. Finally, Morgan Stanley lifted their price target on shares of Advanced Micro Devices from $176.00 to $178.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $193.45.

Advanced Micro Devices Stock Performance

The stock has a market capitalization of $242.67 billion, a price-to-earnings ratio of 220.32, a price-to-earnings-growth ratio of 2.04 and a beta of 1.69. The company has a quick ratio of 2.01, a current ratio of 2.82 and a debt-to-equity ratio of 0.03. The company has a 50 day simple moving average of $148.50 and a 200-day simple moving average of $161.13.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. The company had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.72 billion. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 5.98%. Advanced Micro Devices’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.40 EPS. As a group, equities research analysts expect that Advanced Micro Devices, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity

In related news, EVP Mark D. Papermaster sold 16,756 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $184.50, for a total transaction of $3,091,482.00. Following the transaction, the executive vice president now directly owns 1,546,227 shares of the company’s stock, valued at approximately $285,278,881.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.73% of the stock is currently owned by company insiders.

Institutional Trading of Advanced Micro Devices

Hedge funds and other institutional investors have recently bought and sold shares of the business. American Trust grew its holdings in shares of Advanced Micro Devices by 41.4% during the second quarter. American Trust now owns 1,741 shares of the semiconductor manufacturer’s stock valued at $282,000 after buying an additional 510 shares during the last quarter. Summit Wealth Partners LLC acquired a new position in Advanced Micro Devices during the 2nd quarter valued at about $231,000. Newbridge Financial Services Group Inc. increased its holdings in Advanced Micro Devices by 21.7% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 30,176 shares of the semiconductor manufacturer’s stock worth $4,895,000 after purchasing an additional 5,377 shares in the last quarter. Heritage Wealth Management Inc. purchased a new stake in shares of Advanced Micro Devices in the second quarter worth approximately $1,457,000. Finally, Lazari Capital Management Inc. lifted its holdings in shares of Advanced Micro Devices by 0.6% in the second quarter. Lazari Capital Management Inc. now owns 16,411 shares of the semiconductor manufacturer’s stock valued at $2,662,000 after purchasing an additional 104 shares in 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.