Advanced Micro Devices (NASDAQ:AMD) Trading Down 1.5% – Here’s What Happened

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares dropped 1.5% during trading on Wednesday . The company traded as low as $169.73 and last traded at $170.15. Approximately 12,408,558 shares were traded during trading, a decline of 79% from the average daily volume of 57,951,645 shares. The stock had previously closed at $172.80.

Wall Street Analysts Forecast Growth

AMD has been the topic of a number of research analyst reports. Susquehanna reaffirmed a “positive” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, July 31st. Wedbush reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, July 31st. Morgan Stanley boosted their target price on shares of Advanced Micro Devices from $176.00 to $178.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Barclays decreased their target price on shares of Advanced Micro Devices from $235.00 to $180.00 and set an “overweight” rating for the company in a research report on Monday, July 29th. Finally, BNP Paribas raised shares of Advanced Micro Devices to a “strong-buy” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $194.31.

Advanced Micro Devices Trading Up 0.4 %

The business’s 50 day moving average price is $150.63 and its 200-day moving average price is $157.79. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.01 and a current ratio of 2.82. The company has a market cap of $266.85 billion, a price-to-earnings ratio of 200.22, a PEG ratio of 2.33 and a beta of 1.70.

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

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,756 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $184.50, for a total transaction of $3,091,482.00. Following the sale, the executive vice president now owns 1,546,227 shares of the company’s stock, valued at $285,278,881.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Tradewinds Capital Management LLC raised its position in shares of Advanced Micro Devices by 102.9% in the 1st quarter. Tradewinds Capital Management LLC now owns 140 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 71 shares during the period. ZRC Wealth Management LLC raised its position in shares of Advanced Micro Devices by 90.4% in the 3rd quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 75 shares during the period. Morton Brown Family Wealth LLC raised its position in shares of Advanced Micro Devices by 94.4% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock valued at $27,000 after acquiring an additional 85 shares during the period. Fairway Wealth LLC acquired a new stake in shares of Advanced Micro Devices in the 2nd quarter valued at approximately $27,000. Finally, Northwest Bank & Trust Co acquired a new stake in shares of Advanced Micro Devices in the 4th quarter valued at approximately $28,000. Institutional investors own 71.34% of the company’s stock.

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.