Advanced Micro Devices (NASDAQ:AMD) Trading Down 3.3% – Here’s What Happened

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price traded down 3.3% on Friday . The company traded as low as $125.87 and last traded at $126.34. 21,108,793 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 53,668,809 shares. The stock had previously closed at $130.60.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Evercore ISI raised their price target on shares of Advanced Micro Devices from $193.00 to $198.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Barclays dropped their price target on Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Rosenblatt Securities restated a “buy” rating and set a $250.00 price objective on shares of Advanced Micro Devices in a research report on Monday, October 28th. Piper Sandler restated an “overweight” rating and set a $180.00 price objective (down previously from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Finally, Mizuho decreased their price target on shares of Advanced Micro Devices from $185.00 to $180.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and an average target price of $192.36.

Advanced Micro Devices Stock Performance

The firm has a market capitalization of $204.44 billion, a PE ratio of 113.82, a price-to-earnings-growth ratio of 1.88 and a beta of 1.65. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50. The firm’s 50 day moving average price is $147.60 and its 200-day moving average price is $152.43.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, hitting the consensus estimate of $0.92. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The business had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same period in the prior year, the company posted $0.53 EPS. The business’s quarterly revenue 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

In other news, EVP Forrest Eugene Norrod sold 40,540 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the completion of the transaction, the executive vice president now directly owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. The trade was a 12.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Lisa T. Su sold 76,496 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total value of $10,912,919.36. Following the completion of the transaction, the chief executive officer now directly owns 3,566,762 shares in the company, valued at $508,834,266.92. This trade represents a 2.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 197,036 shares of company stock worth $28,165,821 in the last 90 days. Insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Creative Capital Management Investments LLC grew its position in shares of Advanced Micro Devices by 124.6% during the third quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 86 shares during the last quarter. ZRC Wealth Management LLC grew its holdings in Advanced Micro Devices by 90.4% during the 3rd quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 75 shares during the last quarter. Morton Brown Family Wealth LLC grew its holdings in shares of Advanced Micro Devices by 94.4% during the second quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock worth $27,000 after buying an additional 85 shares in the last quarter. Fairway Wealth LLC purchased a new position in Advanced Micro Devices during the second quarter worth about $27,000. Finally, Ridgewood Investments LLC acquired a new position in shares of Advanced Micro Devices during the 2nd quarter valued at about $35,000. Hedge funds and other institutional investors own 71.34% of the company’s stock.

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.