Advanced Micro Devices (NASDAQ:AMD) Stock Price Down 1.2% – What’s Next?

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) were down 1.2% during mid-day trading on Thursday . The company traded as low as $119.45 and last traded at $119.98. Approximately 14,141,665 shares traded hands during trading, a decline of 74% from the average daily volume of 53,595,902 shares. The stock had previously closed at $121.41.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on AMD shares. Evercore ISI lifted their price target on Advanced Micro Devices from $193.00 to $198.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. UBS Group dropped their target price on shares of Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Citigroup reduced their price target on shares of Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Piper Sandler reissued an “overweight” rating and set a $180.00 price objective (down from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Finally, Bank of America lowered Advanced Micro Devices from a “buy” rating to a “neutral” rating and reduced their target price for the company from $180.00 to $155.00 in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $192.36.

Advanced Micro Devices Stock Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78. The stock has a 50-day moving average price of $143.88 and a 200-day moving average price of $151.14. The firm has a market capitalization of $193.89 billion, a PE ratio of 107.64, a price-to-earnings-growth ratio of 1.88 and a beta of 1.65.

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 analysts’ consensus estimates of $0.92. The firm had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The firm’s revenue was up 17.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.53 EPS. On average, research analysts expect that Advanced Micro Devices, Inc. will post 2.54 EPS for the current fiscal year.

Insider Activity

In related news, CEO Lisa T. Su sold 76,496 shares of Advanced Micro Devices stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total value of $10,912,919.36. Following the sale, the chief executive officer now directly owns 3,566,762 shares in the company, valued at $508,834,266.92. This trade represents a 2.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through 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 transaction of $5,743,301.80. Following the completion of the sale, the executive vice president now 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. In the last three months, insiders sold 197,036 shares of company stock valued at $28,165,821. Company insiders own 0.73% of the company’s stock.

Institutional Trading of Advanced Micro Devices

Hedge funds and other institutional investors have recently modified their holdings of the company. B. Riley Wealth Advisors Inc. grew its stake in shares of Advanced Micro Devices by 2.2% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 60,761 shares of the semiconductor manufacturer’s stock worth $9,937,000 after purchasing an additional 1,279 shares during the last quarter. DGS Capital Management LLC increased its holdings in shares of Advanced Micro Devices by 98.7% in the third quarter. DGS Capital Management LLC now owns 2,452 shares of the semiconductor manufacturer’s stock valued at $402,000 after buying an additional 1,218 shares in the last quarter. Inspire Trust Co. N.A. increased its holdings in shares of Advanced Micro Devices by 68.7% in the third quarter. Inspire Trust Co. N.A. now owns 33,000 shares of the semiconductor manufacturer’s stock valued at $5,415,000 after buying an additional 13,441 shares in the last quarter. Synovus Financial Corp lifted its position in shares of Advanced Micro Devices by 26.2% during the 3rd quarter. Synovus Financial Corp now owns 33,769 shares of the semiconductor manufacturer’s stock valued at $5,541,000 after acquiring an additional 7,006 shares during the last quarter. Finally, Destination Wealth Management grew its holdings in shares of Advanced Micro Devices by 32.4% in the 3rd quarter. Destination Wealth Management now owns 11,680 shares of the semiconductor manufacturer’s stock worth $1,916,000 after acquiring an additional 2,855 shares during the last quarter. Institutional investors 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.