Advanced Micro Devices (NASDAQ:AMD) Stock Price Down 1.2% – What’s Next?

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price dropped 1.2% during trading on Wednesday . The stock traded as low as $141.87 and last traded at $141.93. Approximately 8,053,378 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 55,648,492 shares. The stock had previously closed at $143.63.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Piper Sandler restated an “overweight” rating and set a $180.00 target price (down from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Citigroup cut their price objective on Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 target price on shares of Advanced Micro Devices in a research note on Monday, October 28th. StockNews.com downgraded Advanced Micro Devices from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. Finally, Barclays reduced their price objective on Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $192.79.

Advanced Micro Devices Stock Performance

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 stock has a fifty day simple moving average of $154.52 and a two-hundred day simple moving average of $155.31. The stock has a market cap of $225.31 billion, a PE ratio of 125.08, a PEG ratio of 1.99 and a beta of 1.71.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, meeting analysts’ consensus estimates of $0.92. The firm had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.71 billion. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. Advanced Micro Devices’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.53 earnings per share. Equities analysts anticipate that Advanced Micro Devices, Inc. will post 2.53 EPS for the current fiscal year.

Insider Buying and Selling at Advanced Micro Devices

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total value of $5,743,301.80. Following the sale, the executive vice president now owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. This trade represents a 12.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Lisa T. Su sold 80,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the transaction, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at approximately $513,150,048.94. This trade represents a 2.19 % decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Advanced Micro Devices

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quantbot Technologies LP acquired a new stake in Advanced Micro Devices in the first quarter worth about $331,000. 1ST Source Bank boosted its stake in shares of Advanced Micro Devices by 12.1% during the 1st quarter. 1ST Source Bank now owns 2,231 shares of the semiconductor manufacturer’s stock worth $403,000 after acquiring an additional 240 shares in the last quarter. Pinkerton Retirement Specialists LLC purchased a new stake in shares of Advanced Micro Devices during the first quarter valued at $672,000. Jupiter Asset Management Ltd. purchased a new stake in shares of Advanced Micro Devices during the first quarter valued at $1,215,000. Finally, Nicolet Advisory Services LLC boosted its position in shares of Advanced Micro Devices by 7.1% in the 1st quarter. Nicolet Advisory Services LLC now owns 5,352 shares of the semiconductor manufacturer’s stock valued at $914,000 after purchasing an additional 354 shares during the period. 71.34% of the stock is owned by institutional investors.

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.