Advanced Micro Devices (NASDAQ:AMD) Shares Down 0.1% – Here’s What Happened

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price fell 0.1% during trading on Friday . The company traded as low as $137.19 and last traded at $137.35. 6,002,682 shares were traded during mid-day trading, a decline of 89% from the average session volume of 54,941,547 shares. The stock had previously closed at $137.49.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Roth Mkm restated a “buy” rating and set a $200.00 price target on shares of Advanced Micro Devices in a report on Friday, October 11th. Piper Sandler reiterated an “overweight” rating and issued a $180.00 target price (down previously from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Truist Financial decreased their price target on Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating on the stock in a report on Wednesday, July 31st. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price objective on shares of Advanced Micro Devices in a research report on Monday, October 28th. Finally, Citigroup reduced their target price on Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. One investment 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.79.

Advanced Micro Devices Stock Performance

The stock’s 50 day moving average is $153.95 and its two-hundred day moving average is $154.70. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. The stock has a market cap of $224.68 billion, a price-to-earnings ratio of 123.74, a PEG ratio of 1.93 and a beta of 1.71.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, meeting the consensus estimate 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%. The firm’s revenue was up 17.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.53 EPS. Analysts anticipate that Advanced Micro Devices, Inc. will post 2.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of Advanced Micro Devices

A number of institutional investors and hedge funds have recently bought and sold shares of AMD. International Assets Investment Management LLC boosted its holdings in Advanced Micro Devices by 17,137.3% in 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 acquiring an additional 7,815,305 shares during the period. Van ECK Associates Corp boosted its stake in shares of Advanced Micro Devices by 52.6% during the 2nd 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. boosted its stake in shares of 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 valued at $1,381,679,000 after buying an additional 2,497,056 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Advanced Micro Devices during the 2nd quarter valued at approximately $296,178,000. Finally, Swedbank AB purchased a new position in shares of Advanced Micro Devices during the 1st quarter valued at approximately $290,842,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

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.