Advanced Micro Devices (NASDAQ:AMD) Stock Price Down 0.6% – What’s Next?

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares dropped 0.6% on Friday . The stock traded as low as $141.32 and last traded at $143.18. Approximately 11,702,756 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 56,589,055 shares. The stock had previously closed at $144.07.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AMD. Bank of America reissued a “buy” rating and set a $180.00 price objective on shares of Advanced Micro Devices in a research report on Thursday, October 3rd. Citigroup decreased their target price on shares of Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday. BNP Paribas upgraded shares of Advanced Micro Devices to a “strong-buy” rating in a research note on Wednesday, July 31st. Barclays cut their price target on shares of Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $180.00 target price on shares of Advanced Micro Devices in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and an average price target of $192.79.

Advanced Micro Devices Price Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 2.01. The firm has a market cap of $230.15 billion, a PE ratio of 128.99, a price-to-earnings-growth ratio of 2.03 and a beta of 1.70. The firm has a 50-day simple moving average of $155.01 and a 200 day simple moving average of $155.94.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.92. The firm had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.71 billion. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. Advanced Micro Devices’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 EPS. As a group, equities analysts expect that Advanced Micro Devices, Inc. will post 2.56 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AMD. Vanguard Group Inc. boosted its holdings in Advanced Micro Devices by 1.6% in the first quarter. Vanguard Group Inc. now owns 144,794,666 shares of the semiconductor manufacturer’s stock worth $26,133,989,000 after acquiring an additional 2,349,288 shares in the last quarter. Legal & General Group Plc increased its position in shares of Advanced Micro Devices by 1.4% in the second quarter. Legal & General Group Plc now owns 13,310,158 shares of the semiconductor manufacturer’s stock valued at $2,159,039,000 after buying an additional 188,580 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Advanced Micro Devices by 11.3% in the third quarter. Van ECK Associates Corp now owns 9,620,878 shares of the semiconductor manufacturer’s stock valued at $1,471,128,000 after buying an additional 975,220 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Advanced Micro Devices by 42.2% in the third 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 buying an additional 2,497,056 shares in the last quarter. Finally, GQG Partners LLC increased its position in shares of Advanced Micro Devices by 5.0% during the first quarter. GQG Partners LLC now owns 8,044,462 shares of the semiconductor manufacturer’s stock worth $1,451,945,000 after purchasing an additional 382,582 shares in the last quarter. 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.