Advanced Micro Devices (NASDAQ:AMD) Stock Price Down 0.8% – Here’s What Happened

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares dropped 0.8% during mid-day trading on Monday . The company traded as low as $168.21 and last traded at $169.58. Approximately 13,146,870 shares traded hands during trading, a decline of 77% from the average daily volume of 58,177,195 shares. The stock had previously closed at $170.90.

Wall Street Analyst Weigh In

AMD has been the topic of several recent analyst reports. Bank of America reiterated a “buy” rating and issued a $180.00 target price on shares of Advanced Micro Devices in a report on Thursday, October 3rd. Robert W. Baird cut their price target on Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Susquehanna reissued a “positive” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, July 31st. Citigroup raised their target price 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. Finally, Truist Financial reduced their price target on Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating for the company in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Advanced Micro Devices has a consensus rating of “Moderate Buy” and a consensus price target of $193.45.

Advanced Micro Devices Trading Up 1.1 %

The stock’s 50 day simple moving average is $148.78 and its 200 day simple moving average is $157.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.01 and a current ratio of 2.82. The firm has a market cap of $279.30 billion, a PE ratio of 254.12, a PEG ratio of 2.14 and a beta of 1.70.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 5.98%. The business had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.72 billion. During the same period last year, the business earned $0.40 earnings per share. The business’s quarterly revenue was up 8.9% on a year-over-year basis. On average, sell-side analysts forecast that Advanced Micro Devices, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,756 shares of the business’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 value of $3,091,482.00. Following the completion of the sale, the executive vice president now owns 1,546,227 shares in the company, valued at approximately $285,278,881.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.73% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Advanced Micro Devices

Several institutional investors and hedge funds have recently bought and sold shares of the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Advanced Micro Devices by 59.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 309,561 shares of the semiconductor manufacturer’s stock worth $50,214,000 after acquiring an additional 116,020 shares in the last quarter. Chapin Davis Inc. boosted its position in shares of Advanced Micro Devices by 613.4% in the first quarter. Chapin Davis Inc. now owns 12,263 shares of the semiconductor manufacturer’s stock worth $2,213,000 after purchasing an additional 10,544 shares during the period. Gordian Capital Singapore Pte Ltd raised its position in shares of Advanced Micro Devices by 77.4% during the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 49,093 shares of the semiconductor manufacturer’s stock valued at $7,237,000 after buying an additional 21,417 shares during the last quarter. Sycomore Asset Management lifted its position in Advanced Micro Devices by 28.6% during the second quarter. Sycomore Asset Management now owns 137,883 shares of the semiconductor manufacturer’s stock valued at $21,722,000 after purchasing an additional 30,677 shares during the last quarter. Finally, Bank of New Hampshire raised its stake in shares of Advanced Micro Devices by 811.3% in the first quarter. Bank of New Hampshire now owns 8,065 shares of the semiconductor manufacturer’s stock valued at $1,456,000 after acquiring an additional 7,180 shares during the period. Hedge funds and other 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.