Advanced Micro Devices (NASDAQ:AMD) Stock Crosses Below 50 Day Moving Average After Insider Selling

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price passed below its 50 day moving average during trading on Friday following insider selling activity. The stock has a 50 day moving average of $554.55 and traded as low as $520.01. Advanced Micro Devices shares last traded at $534.06, with a volume of 49,061,909 shares changing hands.

Specifically, Director Nora Denzel sold 9,000 shares of the firm’s stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $564.88, for a total value of $5,083,920.00. Following the completion of the transaction, the director directly owned 78,173 shares of the company’s stock, valued at $44,158,364.24. This trade represents a 10.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Analysts Set New Price Targets

Several research analysts recently issued reports on AMD shares. Wells Fargo & Company cut their target price on shares of Advanced Micro Devices from $700.00 to $650.00 and set an “overweight” rating for the company in a research report on Wednesday, November 4th. Sanford C. Bernstein cut shares of Advanced Micro Devices from an “outperform” rating to a “market perform” rating in a research report on Thursday. Royal Bank Of Canada restated a “sector perform” rating and set a $540.00 target price on shares of Advanced Micro Devices in a report on Thursday. The Goldman Sachs Group reaffirmed a “buy” rating and set a $675.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, November 4th. Finally, Melius Research set a $650.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, November 4th. Three investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Advanced Micro Devices presently has an average rating of “Moderate Buy” and a consensus target price of $640.11.

Advanced Micro Devices News Roundup

Investors following AMD have been watching these news items:

• Positive Sentiment: Google’s selection of AMD EPYC processors for infrastructure supporting its next-generation TPU chips strengthens AMD’s role in hyperscaler AI systems and could support data-center growth. How to Play AMD Stock as Google Picks EPYC for Its Next-Gen TPUs
• Positive Sentiment: Analyst support and Lisa Su’s CEO of the Year recognition reinforce the bullish longer-term narrative around AMD’s recent gains and competitive position, though neither fully offset Friday’s sector weakness. AMD’s Lisa Su named CEO of the year
• Negative Sentiment: Chip stocks sold off as investors reassessed whether Nvidia’s turmoil would benefit competitors or signal wider risks to the AI trade. AMD’s decline also reflected profit-taking after a sharp rally; its elevated valuation may make the stock more vulnerable to sentiment shifts. AMD and other chip stocks slide as Wall Street rethinks the AI trade

Advanced Micro Devices Stock Down 8.8%

The company has a quick ratio of 1.93, a current ratio of 2.72 and a debt-to-equity ratio of 0.10. The company has a market cap of $875.91 billion, a PE ratio of 116.10, a PEG ratio of 5.63 and a beta of 2.49. The company’s fifty day moving average is $554.55 and its 200-day moving average is $422.13.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, November 3rd. The semiconductor manufacturer reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.14. Advanced Micro Devices had a return on equity of 14.15% and a net margin of 16.77%. The company had revenue of $13.38 billion for the quarter, compared to the consensus estimate of $13.10 billion. During the same quarter in the prior year, the company earned $1.20 earnings per share. Advanced Micro Devices’s revenue was up 44.7% on a year-over-year basis. On average, analysts predict that Advanced Micro Devices, Inc. will post 6.93 EPS for the current year.

Institutional Investors Weigh In On Advanced Micro Devices

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Empowered Funds LLC raised its stake in Advanced Micro Devices by 14.1% during the 3rd quarter. Empowered Funds LLC now owns 286,964 shares of the semiconductor manufacturer’s stock worth $175,553,000 after acquiring an additional 35,556 shares during the period. United Southern Bank Trust Department bought a new position in shares of Advanced Micro Devices during the 3rd quarter valued at about $2,104,000. Mayport LLC grew its holdings in Advanced Micro Devices by 18.9% during the 3rd quarter. Mayport LLC now owns 678 shares of the semiconductor manufacturer’s stock valued at $415,000 after buying an additional 108 shares in the last quarter. Concorde Asset Management LLC raised its stake in Advanced Micro Devices by 2.2% during the third quarter. Concorde Asset Management LLC now owns 1,191 shares of the semiconductor manufacturer’s stock valued at $729,000 after purchasing an additional 26 shares in the last quarter. Finally, Advisory Alpha LLC grew its position in Advanced Micro Devices by 70.7% in the third quarter. Advisory Alpha LLC now owns 10,865 shares of the semiconductor manufacturer’s stock worth $6,647,000 after acquiring an additional 4,500 shares in the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

About Advanced Micro Devices

Advanced Micro Devices, Inc. (AMD) is a semiconductor company that designs processors, graphics products and adaptive computing solutions. Its products serve data center, personal computing, gaming, embedded and other markets. AMD is a fabless chip designer, relying on third-party manufacturing partners to produce its semiconductors. The company’s product portfolio includes EPYC server processors, Ryzen desktop and laptop processors, Radeon graphics products, Instinct accelerators for data center computing, and adaptive chips and systems used in embedded applications.