Advanced Micro Devices (NASDAQ:AMD) Shares Down 0.2% – Here’s Why

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price fell 0.2% during mid-day trading on Wednesday . The stock traded as low as $154.92 and last traded at $156.33. 12,347,997 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 57,651,129 shares. The stock had previously closed at $156.64.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AMD shares. Susquehanna reiterated a “positive” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a report on Wednesday, July 31st. Wedbush reiterated an “outperform” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. TD Cowen raised shares of Advanced Micro Devices to a “strong-buy” rating in a report on Monday, September 16th. Morgan Stanley raised their target price on Advanced Micro Devices from $176.00 to $178.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Finally, KeyCorp dropped their price target on Advanced Micro Devices from $230.00 to $220.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 9th. 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, Advanced Micro Devices presently has an average rating of “Moderate Buy” and an average target price of $195.00.

Advanced Micro Devices Price Performance

The company has a market capitalization of $253.00 billion, a PE ratio of 229.90, a PEG ratio of 2.33 and a beta of 1.70. The company has a current ratio of 2.82, a quick ratio of 2.01 and a debt-to-equity ratio of 0.03. The company’s 50 day moving average price is $152.48 and its 200-day moving average price is $157.15.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. The firm had revenue of $5.84 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.40 EPS. On average, sell-side analysts forecast that Advanced Micro Devices, Inc. will post 2.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Advanced Micro Devices

Several institutional investors have recently made changes to their positions in AMD. Van ECK Associates Corp raised its stake in Advanced Micro Devices by 52.6% during the 2nd quarter. Van ECK Associates Corp now owns 8,645,658 shares of the semiconductor manufacturer’s stock valued at $1,402,412,000 after acquiring an additional 2,979,204 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Advanced Micro Devices by 1.6% in 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 purchasing an additional 2,349,288 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Advanced Micro Devices during the 2nd quarter worth $296,178,000. Swedbank AB bought a new position in shares of Advanced Micro Devices in the first quarter worth about $290,842,000. Finally, Assenagon Asset Management S.A. boosted 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 valued at $960,885,000 after purchasing an additional 1,331,165 shares during the period. 71.34% of the stock is 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.