Advanced Micro Devices (NASDAQ:AMD) Stock Price Down 0.6% – Here’s What Happened

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price dropped 0.6% on Wednesday . The company traded as low as $126.22 and last traded at $127.01. Approximately 13,409,739 shares were traded during trading, a decline of 75% from the average daily volume of 53,762,992 shares. The stock had previously closed at $127.74.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Mizuho cut their target price on shares of Advanced Micro Devices from $185.00 to $180.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. Benchmark reissued a “buy” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a report on Thursday, October 31st. Bank of America lowered Advanced Micro Devices from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $180.00 to $155.00 in a research report on Monday. Evercore ISI increased their target price on Advanced Micro Devices from $193.00 to $198.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Barclays reduced their price target on shares of Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $192.36.

Advanced Micro Devices Stock Up 1.9 %

The business’s 50 day simple moving average is $148.84 and its 200 day simple moving average is $152.74. The company has a market capitalization of $211.32 billion, a PE ratio of 114.42, a price-to-earnings-growth ratio of 1.91 and a beta of 1.66. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03.

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

Insider Activity at Advanced Micro Devices

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

Hedge Funds Weigh In On Advanced Micro Devices

Hedge funds and other institutional investors have recently modified their holdings of the stock. Christopher J. Hasenberg Inc grew its position in Advanced Micro Devices by 12.0% in the third quarter. Christopher J. Hasenberg Inc now owns 560 shares of the semiconductor manufacturer’s stock valued at $97,000 after acquiring an additional 60 shares during the last quarter. Trivant Custom Portfolio Group LLC boosted its stake in shares of Advanced Micro Devices by 0.3% in the 2nd quarter. Trivant Custom Portfolio Group LLC now owns 24,629 shares of the semiconductor manufacturer’s stock valued at $3,995,000 after purchasing an additional 65 shares in the last quarter. Wealth Effects LLC grew its holdings in shares of Advanced Micro Devices by 0.7% during the 3rd quarter. Wealth Effects LLC now owns 9,419 shares of the semiconductor manufacturer’s stock valued at $1,545,000 after purchasing an additional 65 shares during the last quarter. Jacobsen Capital Management increased its position in Advanced Micro Devices by 2.1% during the 3rd quarter. Jacobsen Capital Management now owns 3,378 shares of the semiconductor manufacturer’s stock worth $554,000 after purchasing an additional 70 shares in the last quarter. Finally, Pacific Sun Financial Corp lifted its stake in Advanced Micro Devices by 4.4% in the 2nd quarter. Pacific Sun Financial Corp now owns 1,710 shares of the semiconductor manufacturer’s stock valued at $277,000 after purchasing an additional 72 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.