Advanced Micro Devices (NASDAQ:AMD) Trading Down 4.1% – Here’s Why

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) were down 4.1% during mid-day trading on Wednesday . The company traded as low as $120.77 and last traded at $122.11. Approximately 19,779,599 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 35,398,195 shares. The stock had previously closed at $127.33.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on AMD shares. Barclays reduced their target price on Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. TD Cowen cut their price target on Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. The Goldman Sachs Group downgraded Advanced Micro Devices from a “buy” rating to a “neutral” rating and cut their price target for the stock from $175.00 to $129.00 in a research report on Friday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $180.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $180.00 price target (down from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $185.22.

Advanced Micro Devices Price Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50. The stock’s 50 day simple moving average is $133.09 and its two-hundred day simple moving average is $147.05. The firm has a market capitalization of $188.31 billion, a PE ratio of 104.54, a price-to-earnings-growth ratio of 1.88 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.92. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The business had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same period last year, the company posted $0.53 EPS. The business’s revenue was up 17.6% on a year-over-year basis. On average, sell-side analysts forecast that Advanced Micro Devices, Inc. will post 2.54 EPS for the current year.

Insider Activity

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 40,540 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now owns 293,347 shares of the company’s stock, valued at $41,558,469.49. The trade was a 12.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Lisa T. Su sold 80,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total value of $11,509,600.00. Following the completion of the sale, the chief executive officer now directly owns 3,566,762 shares in the company, valued at approximately $513,150,048.94. The trade was a 2.19 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 197,036 shares of company stock valued at $28,165,821. 0.65% of the stock is currently owned by company insiders.

Institutional Trading of Advanced Micro Devices

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tilia Fiduciary Partners Inc. grew its stake in shares of Advanced Micro Devices by 4.1% in the fourth quarter. Tilia Fiduciary Partners Inc. now owns 18,780 shares of the semiconductor manufacturer’s stock worth $2,268,000 after acquiring an additional 731 shares in the last quarter. Atlas Brown Inc. grew its stake in shares of Advanced Micro Devices by 11.0% during the fourth quarter. Atlas Brown Inc. now owns 1,968 shares of the semiconductor manufacturer’s stock worth $238,000 after purchasing an additional 195 shares in the last quarter. Jacobs & Co. CA grew its stake in shares of Advanced Micro Devices by 13.2% during the fourth quarter. Jacobs & Co. CA now owns 89,030 shares of the semiconductor manufacturer’s stock worth $10,753,000 after purchasing an additional 10,404 shares in the last quarter. Sage Capital Advisors llc grew its stake in shares of Advanced Micro Devices by 1.6% during the fourth quarter. Sage Capital Advisors llc now owns 6,386 shares of the semiconductor manufacturer’s stock worth $771,000 after purchasing an additional 98 shares in the last quarter. Finally, Watts Gwilliam & Co. LLC grew its stake in shares of Advanced Micro Devices by 151.6% during the fourth quarter. Watts Gwilliam & Co. LLC now owns 19,279 shares of the semiconductor manufacturer’s stock worth $2,455,000 after purchasing an additional 11,616 shares in the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

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.