Advanced Micro Devices (NASDAQ:AMD) Trading Down 5.1% – Time to Sell?

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price was down 5.1% during mid-day trading on Tuesday . The stock traded as low as $156.13 and last traded at $156.80. Approximately 20,007,945 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 57,744,059 shares. The stock had previously closed at $165.27.

Analysts Set New Price Targets

Several research analysts have issued reports on AMD shares. TD Cowen raised shares of Advanced Micro Devices to a “strong-buy” rating in a report on Monday, September 16th. KeyCorp decreased their target price on shares of Advanced Micro Devices from $230.00 to $220.00 and set an “overweight” rating for the company in a report on Tuesday, July 9th. Robert W. Baird decreased their target price on shares of Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Piper Sandler lifted their target price on shares of Advanced Micro Devices from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Finally, Barclays decreased their price objective on shares of Advanced Micro Devices from $235.00 to $180.00 and set an “overweight” rating for the company in a report on Monday, July 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $195.00.

Advanced Micro Devices Trading Up 0.1 %

The firm has a market capitalization of $252.55 billion, a P/E ratio of 231.43, a price-to-earnings-growth ratio of 2.33 and a beta of 1.70. The stock’s 50-day simple moving average is $153.03 and its two-hundred day simple moving average is $157.14. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.82 and a quick ratio of 2.01.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share for the quarter, topping 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 firm had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.72 billion. During the same quarter in the prior year, the business earned $0.40 earnings per share. Advanced Micro Devices’s revenue for the quarter was up 8.9% on a year-over-year basis. Equities research analysts expect that Advanced Micro Devices, Inc. will post 2.56 EPS for the current year.

Hedge Funds Weigh In On Advanced Micro Devices

Hedge funds and other institutional investors have recently modified their holdings of the stock. Well Done LLC lifted its position in Advanced Micro Devices by 16.9% during the third quarter. Well Done LLC now owns 1,537 shares of the semiconductor manufacturer’s stock valued at $252,000 after purchasing an additional 222 shares during the last quarter. Aurora Investment Managers LLC. lifted its position in Advanced Micro Devices by 0.5% during the third quarter. Aurora Investment Managers LLC. now owns 13,768 shares of the semiconductor manufacturer’s stock valued at $2,259,000 after purchasing an additional 75 shares during the last quarter. Madrona Financial Services LLC bought a new position in Advanced Micro Devices during the third quarter valued at $205,000. Howard Capital Management Group LLC lifted its position in Advanced Micro Devices by 21.6% during the third quarter. Howard Capital Management Group LLC now owns 1,827 shares of the semiconductor manufacturer’s stock valued at $300,000 after purchasing an additional 324 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Advanced Micro Devices by 3.7% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 213,746 shares of the semiconductor manufacturer’s stock valued at $35,071,000 after purchasing an additional 7,557 shares during the last quarter. 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.