Advanced Micro Devices (NASDAQ:AMD) Shares Gap Down – Here’s Why

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $110.19, but opened at $106.11. Advanced Micro Devices shares last traded at $106.04, with a volume of 10,717,353 shares.

Wall Street Analysts Forecast Growth

AMD has been the topic of several recent analyst reports. Melius Research restated a “hold” rating and issued a $129.00 target price (down previously from $160.00) on shares of Advanced Micro Devices in a research note on Tuesday, January 28th. Argus set a $160.00 price target on shares of Advanced Micro Devices in a research report on Thursday, February 6th. UBS Group set a $175.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, February 5th. The Goldman Sachs Group lowered Advanced Micro Devices from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $175.00 to $129.00 in a research note on Friday, January 10th. Finally, Roth Capital set a $140.00 price target on shares of Advanced Micro Devices 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $152.72.

Advanced Micro Devices Stock Down 3.2 %

The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. The stock has a market cap of $167.27 billion, a P/E ratio of 104.26, a PEG ratio of 1.11 and a beta of 1.74. The firm has a 50-day simple moving average of $109.39 and a two-hundred day simple moving average of $130.90.

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

Insider Activity at Advanced Micro Devices

In related news, EVP Philip Guido bought 4,645 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was purchased at an average cost of $107.56 per share, for a total transaction of $499,616.20. Following the transaction, the executive vice president now owns 33,522 shares in the company, valued at $3,605,626.32. The trade was a 16.09 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.73% of the stock is currently owned by corporate insiders.

Institutional Trading of Advanced Micro Devices

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Howard Capital Management Group LLC raised its holdings in shares of Advanced Micro Devices by 21.6% during the 3rd quarter. Howard Capital Management Group LLC now owns 1,827 shares of the semiconductor manufacturer’s stock worth $300,000 after buying an additional 324 shares in the last quarter. Principal Financial Group Inc. raised its stake in Advanced Micro Devices by 30.2% during the third quarter. Principal Financial Group Inc. now owns 2,537,968 shares of the semiconductor manufacturer’s stock worth $416,430,000 after acquiring an additional 588,595 shares in the last quarter. United Bank bought a new position in shares of Advanced Micro Devices in the third quarter worth about $516,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Advanced Micro Devices in the 3rd quarter valued at approximately $454,000. Finally, Glenmede Trust Co. NA grew its holdings in shares of Advanced Micro Devices by 2.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 39,597 shares of the semiconductor manufacturer’s stock valued at $6,497,000 after purchasing an additional 954 shares during the last quarter. 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.