Advanced Micro Devices (NASDAQ:AMD) Trading Down 0.7% – Here’s What Happened

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price traded down 0.7% on Monday . The stock traded as low as $166.12 and last traded at $166.77. 8,792,258 shares traded hands during trading, a decline of 85% from the average session volume of 57,818,660 shares. The stock had previously closed at $167.89.

Wall Street Analysts Forecast Growth

AMD has been the subject of several recent research reports. TD Cowen raised Advanced Micro Devices to a “strong-buy” rating in a report on Monday, September 16th. Cantor Fitzgerald restated an “overweight” rating and set a $180.00 price objective on shares of Advanced Micro Devices in a research report on Monday, October 7th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Susquehanna reiterated a “positive” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, July 31st. Finally, Citigroup raised their target price on Advanced Micro Devices from $176.00 to $210.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and an average price target of $195.00.

Advanced Micro Devices Trading Down 1.0 %

The business has a 50-day moving average price of $151.34 and a 200-day moving average price of $157.42. The company has a quick ratio of 2.01, a current ratio of 2.82 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $268.53 billion, a P/E ratio of 245.25, a PEG ratio of 2.33 and a beta of 1.70.

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

Institutional Trading of Advanced Micro Devices

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMD. Cherrydale Wealth Management LLC raised its position in shares of Advanced Micro Devices by 4.7% during the 2nd quarter. Cherrydale Wealth Management LLC now owns 1,305 shares of the semiconductor manufacturer’s stock valued at $212,000 after acquiring an additional 58 shares during the last quarter. Christopher J. Hasenberg Inc lifted its stake 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 buying an additional 60 shares during the period. Prentice Wealth Management LLC boosted its holdings in Advanced Micro Devices by 1.6% during the first quarter. Prentice Wealth Management LLC now owns 3,938 shares of the semiconductor manufacturer’s stock worth $711,000 after buying an additional 62 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in shares of Advanced Micro Devices by 0.9% in the 1st quarter. Revolve Wealth Partners LLC now owns 7,281 shares of the semiconductor manufacturer’s stock valued at $1,314,000 after acquiring an additional 63 shares during the last quarter. Finally, Delta Financial Group Inc. raised its position in shares of Advanced Micro Devices by 5.0% in the 2nd quarter. Delta Financial Group Inc. now owns 1,325 shares of the semiconductor manufacturer’s stock valued at $215,000 after acquiring an additional 63 shares during the period. 71.34% of the stock is currently owned by institutional investors and hedge funds.

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.