Advanced Micro Devices (NASDAQ:AMD) Trading Down 1.1% – Time to Sell?

Advanced Micro Devices, Inc. (NASDAQ:AMD) fell 1.1% during trading on Wednesday . The stock traded as low as $137.06 and last traded at $137.85. 6,977,278 shares changed hands during trading, a decline of 87% from the average session volume of 55,171,910 shares. The stock had previously closed at $139.39.

Wall Street Analyst Weigh In

Several research firms have issued reports on AMD. Truist Financial cut their price target on shares of Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating on the stock in a report on Wednesday, July 31st. Bank of America reaffirmed a “buy” rating and set a $180.00 target price on shares of Advanced Micro Devices in a research report on Thursday, October 3rd. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price target on shares of Advanced Micro Devices in a report on Monday, October 28th. TD Cowen dropped their price target on Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $180.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $192.79.

Advanced Micro Devices Price Performance

The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $222.67 billion, a PE ratio of 123.61, a PEG ratio of 1.93 and a beta of 1.71. The stock has a 50-day moving average price of $153.95 and a 200 day moving average price of $154.70.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, hitting the consensus estimate of $0.92. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The company had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same quarter in the previous year, the firm earned $0.53 EPS. The firm’s revenue was up 17.6% compared to the same quarter last year. Equities analysts forecast that Advanced Micro Devices, Inc. will post 2.53 EPS for the current fiscal year.

Insider Activity at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total value of $5,743,301.80. Following the transaction, the executive vice president now owns 293,347 shares in the company, valued at approximately $41,558,469.49. This trade represents a 12.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Lisa T. Su sold 80,000 shares of Advanced Micro Devices stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the sale, the chief executive officer now directly owns 3,566,762 shares in the company, valued at approximately $513,150,048.94. This trade represents a 2.19 % decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of AMD. International Assets Investment Management LLC boosted its stake in Advanced Micro Devices by 17,137.3% during the third quarter. International Assets Investment Management LLC now owns 7,860,909 shares of the semiconductor manufacturer’s stock worth $1,289,818,000 after buying an additional 7,815,305 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Advanced Micro Devices by 52.6% during the 2nd quarter. Van ECK Associates Corp now owns 8,645,658 shares of the semiconductor manufacturer’s stock worth $1,402,412,000 after acquiring an additional 2,979,204 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Advanced Micro Devices by 42.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock valued at $1,381,679,000 after acquiring an additional 2,497,056 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Advanced Micro Devices in the second quarter valued at about $296,178,000. Finally, Swedbank AB acquired a new stake in Advanced Micro Devices during the first quarter worth about $290,842,000. 71.34% of the stock is owned by hedge funds and other institutional investors.

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.