Advanced Micro Devices (NASDAQ:AMD) Stock Price Down 0.7% – What’s Next?

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares traded down 0.7% during trading on Tuesday . The company traded as low as $126.87 and last traded at $128.63. 17,207,079 shares were traded during mid-day trading, a decline of 48% from the average session volume of 33,135,172 shares. The stock had previously closed at $129.55.

Wall Street Analysts Forecast Growth

AMD has been the topic of several analyst reports. Mizuho dropped their price objective on Advanced Micro Devices from $185.00 to $180.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. Piper Sandler reiterated an “overweight” rating and set a $180.00 price objective (down from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of Advanced Micro Devices in a research report on Monday, October 28th. Morgan Stanley reduced their price target on shares of Advanced Micro Devices from $169.00 to $158.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Finally, TD Cowen lowered their price objective on Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Advanced Micro Devices has a consensus rating of “Moderate Buy” and an average target price of $187.85.

Advanced Micro Devices Price Performance

The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. The company has a 50 day moving average of $133.54 and a two-hundred day moving average of $147.22. The firm has a market cap of $197.72 billion, a P/E ratio of 109.77, a PEG ratio of 1.88 and a beta of 1.66.

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

Insider Activity

In other news, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total value of $5,743,301.80. Following the completion of the sale, the executive vice president now owns 293,347 shares in the company, valued at $41,558,469.49. This represents a 12.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Lisa T. Su sold 76,496 shares of Advanced Micro Devices 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 transaction, the chief executive officer now owns 3,566,762 shares in the company, valued at $508,834,266.92. This represents a 2.10 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 197,036 shares of company stock worth $28,165,821. Insiders own 0.65% of the company’s stock.

Institutional Trading of Advanced Micro Devices

Institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its position in Advanced Micro Devices by 1.9% during 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 in the last quarter. Swiss National Bank raised its holdings in shares of Advanced Micro Devices by 0.3% during 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 in the last quarter. Shum Financial Group Inc. bought a new stake in Advanced Micro Devices in the third quarter worth $858,000. State Street Corp increased its position in Advanced Micro Devices by 2.3% during the third 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 during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Advanced Micro Devices by 1.3% during the third quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock valued at $5,597,337,000 after buying an additional 441,924 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

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.