Advanced Micro Devices (NASDAQ:AMD) Shares Gap Down – Time to Sell?

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $95.29, but opened at $87.61. Advanced Micro Devices shares last traded at $89.48, with a volume of 15,088,588 shares.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AMD. Morgan Stanley set a $137.00 price target on Advanced Micro Devices in a report on Wednesday, February 5th. StockNews.com downgraded shares of Advanced Micro Devices from a “hold” rating to a “sell” rating in a research report on Wednesday, March 26th. Evercore ISI lowered their price target on shares of Advanced Micro Devices from $147.00 to $126.00 and set an “outperform” rating on the stock in a research note on Thursday. Hsbc Global Res lowered Advanced Micro Devices from a “strong-buy” rating to a “moderate sell” rating in a report on Wednesday, January 8th. Finally, Summit Insights raised Advanced Micro Devices to a “hold” rating in a research note on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $144.90.

Advanced Micro Devices Trading Down 0.9 %

The stock has a market cap of $141.42 billion, a price-to-earnings ratio of 88.38, a price-to-earnings-growth ratio of 1.11 and a beta of 1.89. The firm’s 50 day moving average is $101.40 and its two-hundred day moving average is $124.05. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 EPS for the quarter, hitting the consensus estimate of $1.07. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. Equities analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Insider Activity

In other news, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total value of $1,670,725.00. Following the completion of the transaction, the executive vice president now owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. This represents a 1.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Philip Guido acquired 4,645 shares of the business’s stock in a transaction on Friday, February 7th. The stock was acquired at an average price of $107.56 per share, with a total value of $499,616.20. Following the transaction, the executive vice president now owns 33,522 shares in the company, valued at approximately $3,605,626.32. The trade was a 16.09 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Advanced Micro Devices in the 4th quarter valued at approximately $2,867,193,000. Toronto Dominion Bank grew its position in shares of Advanced Micro Devices by 443.3% in the 4th quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer’s stock valued at $660,475,000 after acquiring an additional 4,461,609 shares during the period. Kovitz Investment Group Partners LLC increased its stake in shares of Advanced Micro Devices by 2,265.5% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 3,017,294 shares of the semiconductor manufacturer’s stock worth $364,459,000 after purchasing an additional 2,889,739 shares during the last quarter. Northern Trust Corp increased its stake in shares of Advanced Micro Devices by 20.1% during the 4th quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer’s stock worth $2,072,215,000 after purchasing an additional 2,874,012 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of Advanced Micro Devices by 23.3% in the 4th quarter. Van ECK Associates Corp now owns 11,859,744 shares of the semiconductor manufacturer’s stock valued at $1,432,538,000 after purchasing an additional 2,238,866 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.