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

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price dropped 2.1% during trading on Tuesday . The company traded as low as $214.39 and last traded at $215.24. Approximately 41,737,670 shares were traded during trading, a decline of 17% from the average daily volume of 50,054,039 shares. The stock had previously closed at $219.76.

Analysts Set New Price Targets

AMD has been the topic of several analyst reports. Loop Capital set a $290.00 price objective on shares of Advanced Micro Devices and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Erste Group Bank lowered Advanced Micro Devices from a “buy” rating to a “hold” rating in a research report on Thursday, September 11th. Wall Street Zen upgraded shares of Advanced Micro Devices from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Stifel Nicolaus lifted their price objective on Advanced Micro Devices from $240.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Finally, UBS Group upped their target price on Advanced Micro Devices from $265.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Three research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $278.54.

Advanced Micro Devices Trading Down 2.1%

The business has a fifty day moving average of $221.13 and a 200-day moving average of $173.37. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.81 and a current ratio of 2.49. The company has a market capitalization of $350.42 billion, a P/E ratio of 123.70, a PEG ratio of 2.42 and a beta of 1.93.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data on Tuesday, November 4th. The semiconductor manufacturer reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.03. Advanced Micro Devices had a net margin of 9.57% and a return on equity of 7.54%. The firm had revenue of $9.25 billion for the quarter, compared to the consensus estimate of $8.76 billion. During the same quarter in the prior year, the company posted $0.92 earnings per share. The business’s revenue was up 35.6% on a year-over-year basis. Analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Forrest Eugene Norrod sold 19,450 shares of the stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $229.37, for a total value of $4,461,246.50. Following the completion of the sale, the executive vice president directly owned 300,348 shares of the company’s stock, valued at $68,890,820.76. This represents a 6.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 completion of the transaction, the executive vice president owned 1,714,505 shares in the company, valued at $411,686,940.60. This represents a 0.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 75,676 shares of company stock worth $16,124,589 in the last quarter. Insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

Several large investors have recently bought and sold shares of AMD. ORG Wealth Partners LLC lifted its position in shares of Advanced Micro Devices by 39.7% during the third quarter. ORG Wealth Partners LLC now owns 162 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 46 shares in the last quarter. Koesten Hirschmann & Crabtree INC. increased its stake in Advanced Micro Devices by 61.0% in the 3rd quarter. Koesten Hirschmann & Crabtree INC. now owns 161 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 61 shares during the last quarter. Pinney & Scofield Inc. increased its position in shares of Advanced Micro Devices by 81.0% during the second quarter. Pinney & Scofield Inc. now owns 190 shares of the semiconductor manufacturer’s stock valued at $27,000 after acquiring an additional 85 shares during the last quarter. Dogwood Wealth Management LLC raised its stake in shares of Advanced Micro Devices by 2,311.1% during the 2nd quarter. Dogwood Wealth Management LLC now owns 217 shares of the semiconductor manufacturer’s stock worth $30,000 after purchasing an additional 208 shares during the period. Finally, Avion Wealth raised its position in Advanced Micro Devices by 49.3% in the second quarter. Avion Wealth now owns 218 shares of the semiconductor manufacturer’s stock worth $30,000 after acquiring an additional 72 shares during the period. 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.