Advanced Micro Devices (NASDAQ:AMD) Sets New 52-Week Low – Here’s What Happened

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $95.83 and last traded at $96.63, with a volume of 38570162 shares traded. The stock had previously closed at $100.31.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Argus set a $160.00 price target on Advanced Micro Devices in a research report on Thursday, February 6th. The Goldman Sachs Group cut Advanced Micro Devices from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $175.00 to $129.00 in a report on Friday, January 10th. Melius Research reiterated a “hold” rating and issued a $129.00 price objective (down previously from $160.00) on shares of Advanced Micro Devices in a report on Tuesday, January 28th. TD Cowen dropped their price objective on Advanced Micro Devices from $185.00 to $150.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, KeyCorp dropped their price objective on Advanced Micro Devices from $150.00 to $140.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $155.83.

Advanced Micro Devices Trading Up 4.2 %

The firm has a market cap of $163.33 billion, a P/E ratio of 101.81, a price-to-earnings-growth ratio of 1.11 and a beta of 1.74. The stock has a fifty day simple moving average of $112.99 and a 200 day simple moving average of $133.94. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62.

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

Insider Buying and Selling

In other news, EVP Philip Guido acquired 4,645 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was bought at an average price of $107.56 per share, with a total value of $499,616.20. Following the completion of the acquisition, the executive vice president now directly owns 33,522 shares of the company’s stock, valued at approximately $3,605,626.32. The trade was a 16.09 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.73% of the stock is currently owned by corporate insiders.

Institutional Trading of Advanced Micro Devices

Hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. boosted its stake in shares of Advanced Micro Devices by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 9,656,965 shares of the semiconductor manufacturer’s stock worth $1,584,515,000 after acquiring an additional 177,700 shares during the period. Swiss National Bank boosted its stake in shares of Advanced Micro Devices by 0.3% in the third quarter. Swiss National Bank now owns 4,797,575 shares of the semiconductor manufacturer’s stock worth $787,186,000 after acquiring an additional 12,500 shares during the period. Shum Financial Group Inc. bought a new position in shares of Advanced Micro Devices in the third quarter worth about $858,000. State Street Corp boosted its stake in shares of Advanced Micro Devices by 2.3% in 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. Finally, Geode Capital Management LLC boosted its stake in shares of Advanced Micro Devices by 1.3% in the third quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock worth $5,597,337,000 after acquiring an additional 441,924 shares during the period. 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.