Advanced Micro Devices (NASDAQ:AMD) Trading Down 2.9% – Should You Sell?

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) dropped 2.9% on Friday . The company traded as low as $103.28 and last traded at $103.55. Approximately 9,744,196 shares traded hands during trading, a decline of 77% from the average daily volume of 43,002,286 shares. The stock had previously closed at $106.65.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Wedbush reissued an “outperform” rating and issued a $150.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, February 5th. Rosenblatt Securities restated a “buy” rating and set a $250.00 price objective on shares of Advanced Micro Devices in a research note on Tuesday, February 4th. Melius cut shares of Advanced Micro Devices from a “buy” rating to a “hold” rating and dropped their target price for the company from $160.00 to $129.00 in a research report on Tuesday, January 28th. Piper Sandler reissued an “overweight” rating on shares of Advanced Micro Devices in a report on Wednesday, February 19th. Finally, Argus set a $160.00 price objective on shares of Advanced Micro Devices in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and an average target price of $152.72.

Advanced Micro Devices Trading Down 3.2 %

The business has a fifty day moving average of $109.39 and a 200-day moving average of $130.82. 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 company has a market capitalization of $167.27 billion, a P/E ratio of 104.26, a PEG ratio of 1.11 and a beta of 1.74.

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

Insider Activity at Advanced Micro Devices

In other news, EVP Philip Guido purchased 4,645 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were bought at an average cost of $107.56 per share, with a total value of $499,616.20. Following the completion of the transaction, the executive vice president now directly owns 33,522 shares of the company’s stock, valued at approximately $3,605,626.32. This trade represents a 16.09 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.73% of the stock is owned by insiders.

Hedge Funds Weigh In On Advanced Micro Devices

Several hedge funds have recently modified their holdings of AMD. Norges Bank purchased a new stake in shares of Advanced Micro Devices during the fourth quarter valued at approximately $2,867,193,000. Toronto Dominion Bank increased its position in shares of Advanced Micro Devices by 443.3% during the 4th quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer’s stock valued at $660,475,000 after purchasing an additional 4,461,609 shares during the last quarter. Kovitz Investment Group Partners LLC raised its stake in shares of Advanced Micro Devices by 2,265.5% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 3,017,294 shares of the semiconductor manufacturer’s stock worth $364,459,000 after purchasing an additional 2,889,739 shares during the period. Northern Trust Corp boosted its holdings in shares of Advanced Micro Devices by 20.1% in the 4th quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer’s stock worth $2,072,215,000 after buying an additional 2,874,012 shares during the last quarter. Finally, Van ECK Associates Corp grew its position in Advanced Micro Devices by 23.3% during the fourth quarter. Van ECK Associates Corp now owns 11,859,744 shares of the semiconductor manufacturer’s stock valued at $1,432,538,000 after buying an additional 2,238,866 shares during the period. Institutional investors 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.