Advanced Micro Devices (NASDAQ:AMD) Trading Down 2.3% – Here’s Why

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price was down 2.3% during mid-day trading on Tuesday . The stock traded as low as $105.05 and last traded at $105.68. Approximately 11,815,710 shares changed hands during trading, a decline of 70% from the average daily volume of 39,633,855 shares. The stock had previously closed at $108.11.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AMD. KeyCorp lowered their price target on Advanced Micro Devices from $150.00 to $140.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Evercore ISI boosted their price objective on Advanced Micro Devices from $193.00 to $198.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Mizuho reduced their target price on Advanced Micro Devices from $160.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Melius cut shares of Advanced Micro Devices from a “buy” rating to a “hold” rating and dropped their price objective for the company from $160.00 to $129.00 in a research note on Tuesday, January 28th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $180.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Advanced Micro Devices has an average rating of “Moderate Buy” and an average price target of $155.83.

Advanced Micro Devices Stock Performance

The stock has a 50-day moving average of $118.47 and a 200-day moving average of $137.86. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62. The firm has a market cap of $171.53 billion, a price-to-earnings ratio of 107.06, a price-to-earnings-growth ratio of 1.11 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.07. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. As a group, analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Insider Buying and Selling at Advanced Micro Devices

In other news, CEO Lisa T. Su sold 76,496 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at $508,834,266.92. This trade represents a 2.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Philip Guido bought 4,645 shares of Advanced Micro Devices stock in a transaction dated Friday, February 7th. The shares were acquired at an average price of $107.56 per share, with a total value of $499,616.20. Following the completion of the purchase, the executive vice president now directly owns 33,522 shares in the company, valued at $3,605,626.32. This trade represents a 16.09 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Advanced Micro Devices by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer’s stock worth $18,143,884,000 after buying an additional 1,441,626 shares during the period. State Street Corp boosted its holdings in shares of Advanced Micro Devices by 2.3% during the third quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after acquiring an additional 1,580,035 shares during the period. Geode Capital Management LLC increased its stake in shares of Advanced Micro Devices by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 35,079,256 shares of the semiconductor manufacturer’s stock worth $4,224,840,000 after purchasing an additional 835,413 shares during the period. Fisher Asset Management LLC lifted its holdings in Advanced Micro Devices by 1.2% during the 4th quarter. Fisher Asset Management LLC now owns 24,086,020 shares of the semiconductor manufacturer’s stock worth $2,909,350,000 after purchasing an additional 290,784 shares during the last quarter. Finally, Norges Bank bought a new stake in Advanced Micro Devices in the 4th quarter valued at $2,867,193,000. 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.