Advanced Micro Devices (NASDAQ:AMD) Sets New 52-Week Low – Here’s What Happened

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price reached a new 52-week low during trading on Tuesday . The company traded as low as $95.83 and last traded at $96.63, with a volume of 38570162 shares. The stock had previously closed at $100.31.

Analyst Upgrades and Downgrades

AMD has been the topic of a number of recent analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $150.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, February 5th. Roth Capital set a $140.00 price target on Advanced Micro Devices in a research note on Wednesday, February 5th. Argus set a $160.00 price target on Advanced Micro Devices in a research note on Thursday, February 6th. Bank of America dropped their price target on Advanced Micro Devices from $155.00 to $135.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Finally, KeyCorp decreased their price objective on Advanced Micro Devices from $150.00 to $140.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.83.

Advanced Micro Devices Price Performance

The business has a 50-day moving average price of $112.99 and a 200 day moving average price of $133.94. The stock has a market cap of $163.33 billion, a PE ratio of 101.81, a PEG ratio of 1.11 and a beta of 1.74. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 earnings per share for the quarter, meeting the consensus estimate of $1.07. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. As a group, research analysts forecast that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Philip Guido acquired 4,645 shares of Advanced Micro Devices stock in a transaction dated Friday, February 7th. The shares were purchased at an average cost of $107.56 per share, for a total transaction of $499,616.20. Following the transaction, the executive vice president now owns 33,522 shares of the company’s stock, valued at $3,605,626.32. This trade represents a 16.09 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

Several institutional investors have recently modified their holdings of AMD. Norges Bank bought a new position in shares of Advanced Micro Devices during the 4th quarter valued at about $2,867,193,000. Toronto Dominion Bank grew its position in Advanced Micro Devices by 443.3% during the 4th quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer’s stock worth $660,475,000 after acquiring an additional 4,461,609 shares during the last quarter. Kovitz Investment Group Partners LLC grew its position in Advanced Micro Devices by 2,265.5% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 3,017,294 shares of the semiconductor manufacturer’s stock worth $364,459,000 after acquiring an additional 2,889,739 shares during the last quarter. Northern Trust Corp grew its position in Advanced Micro Devices by 20.1% during the 4th quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer’s stock worth $2,072,215,000 after acquiring an additional 2,874,012 shares during the last quarter. Finally, Van ECK Associates Corp grew its position in Advanced Micro Devices by 23.3% during the 4th quarter. Van ECK Associates Corp now owns 11,859,744 shares of the semiconductor manufacturer’s stock worth $1,432,538,000 after acquiring an additional 2,238,866 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors.

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.