Advanced Micro Devices (NASDAQ:AMD) Stock Price Down 0.8% – Here’s Why

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares traded down 0.8% during trading on Wednesday . The stock traded as low as $109.06 and last traded at $110.24. 9,112,053 shares were traded during trading, a decline of 78% from the average session volume of 41,716,918 shares. The stock had previously closed at $111.10.

Wall Street Analyst Weigh In

AMD has been the subject of several research analyst reports. Citigroup downgraded Advanced Micro Devices from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 5th. Loop Capital initiated coverage on shares of Advanced Micro Devices in a research report on Tuesday, January 14th. They issued a “buy” rating and a $175.00 price objective for the company. Wells Fargo & Company lowered their target price on Advanced Micro Devices from $165.00 to $140.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. KeyCorp decreased their price objective on shares of Advanced Micro Devices from $150.00 to $140.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Finally, Susquehanna cut their target price on shares of Advanced Micro Devices from $165.00 to $150.00 and set a “positive” rating for the company in a research report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, Advanced Micro Devices has an average rating of “Moderate Buy” and a consensus target price of $158.70.

Advanced Micro Devices Stock Down 0.5 %

The stock’s fifty day simple moving average is $122.17 and its two-hundred day simple moving average is $139.31. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.62 and a quick ratio of 1.78. The company has a market capitalization of $179.17 billion, a price-to-earnings ratio of 111.62, a PEG ratio of 1.04 and a beta of 1.65.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.07. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. On average, sell-side analysts predict that Advanced Micro Devices, Inc. will post 4.11 earnings per share for the current fiscal year.

Insider Transactions at Advanced Micro Devices

In other news, CEO Lisa T. Su sold 76,496 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $142.66, for a total value of $10,912,919.36. Following the sale, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at approximately $508,834,266.92. The trade was a 2.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in shares of Advanced Micro Devices in the third quarter worth $359,000. Fiduciary Alliance LLC grew its stake in Advanced Micro Devices by 31.8% during the 3rd quarter. Fiduciary Alliance LLC now owns 2,071 shares of the semiconductor manufacturer’s stock valued at $340,000 after acquiring an additional 500 shares in the last quarter. Harrington Investments INC acquired a new position in shares of Advanced Micro Devices in the 3rd quarter valued at about $517,000. Wesbanco Bank Inc. lifted its position in shares of Advanced Micro Devices by 15.7% in the third quarter. Wesbanco Bank Inc. now owns 155,558 shares of the semiconductor manufacturer’s stock worth $25,524,000 after purchasing an additional 21,132 shares in the last quarter. Finally, Creative Planning boosted its holdings in shares of Advanced Micro Devices by 18.4% during the third quarter. Creative Planning now owns 436,660 shares of the semiconductor manufacturer’s stock worth $66,674,000 after purchasing an additional 67,973 shares during the period. Institutional investors and hedge funds own 71.34% of the company’s stock.

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.