Advanced Micro Devices (NASDAQ:AMD) Trading Down 1% – Here’s Why

Advanced Micro Devices, Inc. (NASDAQ:AMD) fell 1% during trading on Tuesday . The company traded as low as $112.95 and last traded at $113.91. 14,743,340 shares were traded during trading, a decline of 61% from the average session volume of 37,621,918 shares. The stock had previously closed at $115.01.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. KeyCorp dropped their price objective on shares of Advanced Micro Devices from $220.00 to $150.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. The Goldman Sachs Group downgraded shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and cut their price target for the stock from $175.00 to $129.00 in a research note on Friday, January 10th. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price objective on shares of Advanced Micro Devices in a research note on Monday, October 28th. Loop Capital started coverage on Advanced Micro Devices in a report on Tuesday, January 14th. They issued a “buy” rating and a $175.00 price objective on the stock. Finally, Roth Mkm reiterated a “buy” rating and set a $200.00 target price on shares of Advanced Micro Devices in a report on Friday, October 11th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $171.86.

Advanced Micro Devices Stock Performance

The company has a market capitalization of $192.89 billion, a price-to-earnings ratio of 107.08, a P/E/G ratio of 1.09 and a beta of 1.66. The stock has a 50 day simple moving average of $126.74 and a 200 day simple moving average of $142.09. 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 quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.92. The business had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.71 billion. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.53 EPS. As a group, analysts anticipate that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Transactions at Advanced Micro Devices

In related news, CEO Lisa T. Su sold 76,496 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $142.66, for a total value of $10,912,919.36. Following the completion of the transaction, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at $508,834,266.92. This represents a 2.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through 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 sale, the executive vice president now directly owns 293,347 shares in the company, valued at $41,558,469.49. The trade was a 12.14 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 197,036 shares of company stock worth $28,165,821. Insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

Several large investors have recently bought and sold shares of the stock. Creative Capital Management Investments LLC lifted its position in Advanced Micro Devices by 124.6% in the third quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 86 shares during the period. ZRC Wealth Management LLC boosted its stake in Advanced Micro Devices by 90.4% during the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 75 shares in the last quarter. Global Wealth Strategies & Associates acquired a new position in Advanced Micro Devices during the fourth quarter worth about $26,000. Retirement Wealth Solutions LLC acquired a new position in Advanced Micro Devices during the fourth quarter worth about $32,000. Finally, Compass Financial Services Inc bought a new stake in Advanced Micro Devices in the fourth quarter worth about $39,000. Institutional investors and hedge funds 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.