Advanced Micro Devices (NASDAQ:AMD) Trading Down 0.2% – Here’s What Happened

Advanced Micro Devices, Inc. (NASDAQ:AMD) traded down 0.2% during trading on Thursday . The stock traded as low as $129.14 and last traded at $129.92. 12,173,757 shares changed hands during trading, a decline of 77% from the average session volume of 53,723,391 shares. The stock had previously closed at $130.15.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on AMD shares. Morgan Stanley decreased their price target on Advanced Micro Devices from $178.00 to $169.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 30th. Bank of America downgraded shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $180.00 to $155.00 in a research report on Monday, December 9th. Piper Sandler restated an “overweight” rating and issued a $180.00 price target (down previously from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. Barclays lowered their price objective on shares of Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $180.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.36.

Advanced Micro Devices Trading Down 2.8 %

The stock has a market capitalization of $205.95 billion, a price-to-earnings ratio of 114.33, a price-to-earnings-growth ratio of 1.88 and a beta of 1.65. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. The company has a fifty day moving average of $146.72 and a two-hundred day moving average of $152.15.

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

Insider Buying and Selling at Advanced Micro Devices

In other news, CEO Lisa T. Su sold 80,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total value of $11,509,600.00. Following the sale, the chief executive officer now owns 3,566,762 shares in the company, valued at approximately $513,150,048.94. This trade represents a 2.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the completion of the sale, the executive vice president now directly owns 293,347 shares of the company’s stock, 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. Insiders sold 197,036 shares of company stock worth $28,165,821 over the last ninety days. Company insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

Several institutional investors and hedge funds have recently bought and sold shares of AMD. Charles Schwab Investment Management Inc. increased its stake in Advanced Micro Devices by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 9,656,965 shares of the semiconductor manufacturer’s stock valued at $1,584,515,000 after acquiring an additional 177,700 shares during the period. Swiss National Bank grew its stake in shares of Advanced Micro Devices by 0.3% in the 3rd quarter. Swiss National Bank now owns 4,797,575 shares of the semiconductor manufacturer’s stock valued at $787,186,000 after purchasing an additional 12,500 shares during the period. Shum Financial Group Inc. bought a new stake in shares of Advanced Micro Devices in the 3rd quarter valued at approximately $858,000. State Street Corp raised its holdings in shares of Advanced Micro Devices by 2.3% in the 3rd quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after buying an additional 1,580,035 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Advanced Micro Devices by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock worth $5,597,337,000 after buying an additional 441,924 shares during the period. 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.