Advanced Micro Devices (NASDAQ:AMD) Shares Down 2% – Time to Sell?

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price fell 2% on Tuesday . The company traded as low as $123.15 and last traded at $124.18. 15,529,412 shares were traded during mid-day trading, a decline of 71% from the average session volume of 53,665,270 shares. The stock had previously closed at $126.69.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AMD. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $180.00 price target on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Barclays lowered their price objective 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. Mizuho cut their target price on Advanced Micro Devices from $185.00 to $180.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Evercore ISI increased their price target on Advanced Micro Devices from $193.00 to $198.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Piper Sandler reiterated an “overweight” rating and set a $180.00 price objective (down previously from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Advanced Micro Devices has a consensus rating of “Moderate Buy” and a consensus target price of $192.36.

Advanced Micro Devices Stock Performance

The business has a 50-day moving average of $143.88 and a two-hundred day moving average of $151.14. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78. The company has a market cap of $192.92 billion, a P/E ratio of 107.10, a P/E/G ratio of 1.88 and a beta of 1.65.

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

Insider Buying and Selling at Advanced Micro Devices

In other news, CEO Lisa T. Su sold 80,000 shares of the business’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 sale, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at $513,150,048.94. The trade was a 2.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 293,347 shares of the company’s stock, valued at $41,558,469.49. This trade represents a 12.14 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 197,036 shares of company stock worth $28,165,821. 0.73% of the stock is owned by insiders.

Institutional Trading of Advanced Micro Devices

Several institutional investors and hedge funds have recently bought and sold shares of the business. Summit Global Investments lifted its position in shares of Advanced Micro Devices by 22.6% in the second quarter. Summit Global Investments now owns 2,554 shares of the semiconductor manufacturer’s stock valued at $414,000 after acquiring an additional 470 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in shares of Advanced Micro Devices in the 2nd quarter valued at $77,000. &PARTNERS lifted its stake in Advanced Micro Devices by 77.5% during the 2nd quarter. &PARTNERS now owns 13,266 shares of the semiconductor manufacturer’s stock worth $2,152,000 after acquiring an additional 5,792 shares in the last quarter. JB Capital LLC boosted its holdings in Advanced Micro Devices by 40.7% during the 2nd quarter. JB Capital LLC now owns 2,377 shares of the semiconductor manufacturer’s stock valued at $386,000 after acquiring an additional 688 shares during the period. Finally, Cornerstone Wealth Group LLC increased its stake in Advanced Micro Devices by 7.4% during the second quarter. Cornerstone Wealth Group LLC now owns 26,453 shares of the semiconductor manufacturer’s stock worth $4,291,000 after purchasing an additional 1,818 shares during the period. 71.34% of the stock is currently owned by institutional investors and hedge funds.

About Advanced Micro Devices

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.