Advanced Micro Devices (NASDAQ:AMD) Trading Down 5.1% – Time to Sell?

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Robert W. Baird dropped their price objective 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. KeyCorp dropped their price objective on shares of Advanced Micro Devices from $230.00 to $220.00 and set an “overweight” rating for the company in a research note on Tuesday, July 9th. Bank of America reissued a “buy” rating and set a $180.00 price target on shares of Advanced Micro Devices in a research report on Thursday, October 3rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $180.00 target price on shares of Advanced Micro Devices in a report on Monday, October 7th. Finally, 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 report on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Advanced Micro Devices presently has an average rating of “Moderate Buy” and an average target price of $195.00.

Advanced Micro Devices Stock Down 5.0 %

The stock has a market cap of $253.78 billion, a PE ratio of 230.59, a price-to-earnings-growth ratio of 2.33 and a beta of 1.70. 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’s 50-day moving average price is $151.95 and its 200 day moving average price is $157.31.

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

Hedge Funds Weigh In On Advanced Micro Devices

Several institutional investors have recently bought and sold shares of AMD. Van ECK Associates Corp boosted its holdings in Advanced Micro Devices by 52.6% in the second quarter. Van ECK Associates Corp now owns 8,645,658 shares of the semiconductor manufacturer’s stock valued at $1,402,412,000 after purchasing an additional 2,979,204 shares during the last quarter. Vanguard Group Inc. grew its stake in Advanced Micro Devices by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 144,794,666 shares of the semiconductor manufacturer’s stock valued at $26,133,989,000 after acquiring an additional 2,349,288 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Advanced Micro Devices in the second quarter valued at approximately $296,178,000. Swedbank AB acquired a new stake in shares of Advanced Micro Devices during the 1st quarter worth about $290,842,000. Finally, Assenagon Asset Management S.A. grew its stake in Advanced Micro Devices by 29.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 5,923,710 shares of the semiconductor manufacturer’s stock worth $960,885,000 after purchasing an additional 1,331,165 shares in the last quarter. 71.34% of the stock is owned by hedge funds and other institutional investors.

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.