Advanced Micro Devices (NASDAQ:AMD) Trading Down 2.1% – What’s Next?

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) traded down 2.1% on Tuesday . The stock traded as low as $214.39 and last traded at $215.24. 41,737,670 shares traded hands during trading, a decline of 17% from the average session volume of 50,054,039 shares. The stock had previously closed at $219.76.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AMD. Wedbush reissued an “outperform” rating and issued a $290.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, November 12th. Sanford C. Bernstein reissued a “market perform” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, November 12th. Cowen reaffirmed a “buy” rating on shares of Advanced Micro Devices in a report on Tuesday. The Goldman Sachs Group boosted their target price on shares of Advanced Micro Devices from $150.00 to $210.00 and gave the company a “neutral” rating in a report on Wednesday, October 8th. Finally, DZ Bank upgraded Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $250.00 target price on the stock in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $278.54.

Advanced Micro Devices Stock Down 2.1%

The company has a market cap of $350.42 billion, a PE ratio of 123.70, a P/E/G ratio of 2.42 and a beta of 1.93. The stock has a 50-day moving average of $221.13 and a 200-day moving average of $173.37. The company has a quick ratio of 1.81, a current ratio of 2.49 and a debt-to-equity ratio of 0.05.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, November 4th. The semiconductor manufacturer reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.03. Advanced Micro Devices had a return on equity of 7.54% and a net margin of 9.57%.The business had revenue of $9.25 billion for the quarter, compared to analyst estimates of $8.76 billion. During the same period in the prior year, the company earned $0.92 EPS. The company’s quarterly revenue was up 35.6% compared to the same quarter last year. Sell-side analysts predict that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Mark D. Papermaster sold 17,108 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $240.12, for a total value of $4,107,972.96. Following the sale, the executive vice president directly owned 1,714,505 shares of the company’s stock, valued at $411,686,940.60. This trade represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Ava Hahn sold 2,868 shares of the business’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $226.01, for a total transaction of $648,196.68. Following the completion of the transaction, the senior vice president directly owned 9,033 shares of the company’s stock, valued at approximately $2,041,548.33. This represents a 24.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 75,676 shares of company stock worth $16,124,589. Insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

Several hedge funds have recently added to or reduced their stakes in AMD. Brighton Jones LLC raised its position in Advanced Micro Devices by 178.2% in the 4th quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer’s stock worth $5,551,000 after purchasing an additional 29,438 shares during the period. Revolve Wealth Partners LLC increased its holdings in shares of Advanced Micro Devices by 2.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer’s stock worth $1,001,000 after buying an additional 234 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Advanced Micro Devices by 4.3% in the first quarter. PNC Financial Services Group Inc. now owns 330,842 shares of the semiconductor manufacturer’s stock worth $33,991,000 after buying an additional 13,530 shares during the period. J. Safra Sarasin Holding AG lifted its stake in shares of Advanced Micro Devices by 93.9% in the 1st quarter. J. Safra Sarasin Holding AG now owns 6,743 shares of the semiconductor manufacturer’s stock valued at $694,000 after acquiring an additional 3,265 shares during the last quarter. Finally, Delta Financial Group Inc. purchased a new stake in Advanced Micro Devices during the 1st quarter valued at about $234,000. 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.