Advanced Micro Devices (NASDAQ:AMD) Shares Down 1.6% – Here’s What Happened

Advanced Micro Devices, Inc. (NASDAQ:AMD) fell 1.6% during mid-day trading on Tuesday . The company traded as low as $144.70 and last traded at $145.01. 8,780,398 shares traded hands during trading, a decline of 84% from the average session volume of 55,752,672 shares. The stock had previously closed at $147.35.

Analyst Upgrades and Downgrades

AMD has been the subject of several recent analyst reports. Piper Sandler restated an “overweight” rating and issued a $180.00 target price (down previously from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price objective on shares of Advanced Micro Devices in a report on Monday, October 28th. Benchmark reiterated a “buy” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research note on Thursday, October 31st. Edward Jones initiated coverage on Advanced Micro Devices in a research report on Tuesday, August 20th. They set a “buy” rating on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $180.00 target price on shares of Advanced Micro Devices in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $192.79.

Advanced Micro Devices Stock Performance

The company has a market cap of $233.08 billion, a price-to-earnings ratio of 130.64, a PEG ratio of 2.05 and a beta of 1.71. The stock has a 50 day simple moving average of $154.41 and a 200 day simple moving average of $155.52. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.92. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The business had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same period last year, the business earned $0.53 earnings per share. The firm’s revenue for the quarter was up 17.6% compared to the same quarter last year. As a group, analysts predict that Advanced Micro Devices, Inc. will post 2.53 EPS for the current year.

Insider Activity

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the completion of the transaction, the executive vice president now directly owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Lisa T. Su sold 80,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total value of $11,509,600.00. Following the sale, the chief executive officer now owns 3,566,762 shares in the company, valued at $513,150,048.94. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were 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 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

Several large investors have recently modified their holdings of the stock. International Assets Investment Management LLC increased its position in Advanced Micro Devices by 17,137.3% during the 3rd quarter. International Assets Investment Management LLC now owns 7,860,909 shares of the semiconductor manufacturer’s stock worth $1,289,818,000 after purchasing an additional 7,815,305 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Advanced Micro Devices by 52.6% during the second quarter. Van ECK Associates Corp now owns 8,645,658 shares of the semiconductor manufacturer’s stock valued at $1,402,412,000 after buying an additional 2,979,204 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Advanced Micro Devices by 42.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock worth $1,381,679,000 after purchasing an additional 2,497,056 shares during the period. Vanguard Group Inc. raised its position in Advanced Micro Devices by 1.6% during the first quarter. Vanguard Group Inc. now owns 144,794,666 shares of the semiconductor manufacturer’s stock valued at $26,133,989,000 after acquiring an additional 2,349,288 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Advanced Micro Devices during the second quarter worth about $296,178,000. 71.34% of the stock is currently owned by institutional investors.

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.