Advanced Micro Devices (NASDAQ:AMD) Shares Down 5.1% – Here’s Why

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares dropped 5.1% on Tuesday . The company traded as low as $156.13 and last traded at $156.80. Approximately 20,007,945 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 57,744,059 shares. The stock had previously closed at $165.27.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Bank of America restated a “buy” rating and issued a $180.00 price objective on shares of Advanced Micro Devices in a research note on Thursday, October 3rd. Wells Fargo & Company boosted their target price on Advanced Micro Devices from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Piper Sandler lifted their price objective on Advanced Micro Devices from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday. BNP Paribas raised shares of Advanced Micro Devices to a “strong-buy” rating in a research note on Wednesday, July 31st. Finally, Robert W. Baird dropped their target price on Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $195.00.

Advanced Micro Devices Price Performance

The company has a market capitalization of $253.78 billion, a P/E ratio of 230.59, a P/E/G ratio of 2.33 and a beta of 1.70. The firm’s fifty day moving average is $151.95 and its 200 day moving average is $157.31. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.01 and a current ratio of 2.82.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.01. Advanced Micro Devices had a return on equity of 5.98% and a net margin of 5.82%. The company had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.72 billion. During the same quarter in the previous year, the firm earned $0.40 earnings per share. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. As a group, analysts predict that Advanced Micro Devices, Inc. will post 2.56 earnings per share for the current fiscal year.

Institutional Trading of Advanced Micro Devices

Several large investors have recently added to or reduced their stakes in the stock. Scarborough Advisors LLC acquired a new stake in shares of Advanced Micro Devices in the 4th quarter valued at about $42,000. SageView Advisory Group LLC purchased a new position in Advanced Micro Devices in the 4th quarter valued at about $1,207,000. Duncan Williams Asset Management LLC purchased a new stake in Advanced Micro Devices in the 1st quarter worth approximately $539,000. Moseley Investment Management Inc. increased its stake in Advanced Micro Devices by 1.8% in the first quarter. Moseley Investment Management Inc. now owns 11,381 shares of the semiconductor manufacturer’s stock valued at $2,054,000 after purchasing an additional 201 shares during the last quarter. Finally, Cullen Investment Group LTD. raised its stake in Advanced Micro Devices by 3.0% during the first quarter. Cullen Investment Group LTD. now owns 16,564 shares of the semiconductor manufacturer’s stock worth $2,960,000 after purchasing an additional 476 shares during the period. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

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.