Advanced Micro Devices (NASDAQ:AMD) Shares Down 2.9% – Here’s What Happened

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) dropped 2.9% during mid-day trading on Friday . The stock traded as low as $103.28 and last traded at $103.55. Approximately 9,744,196 shares traded hands during trading, a decline of 77% from the average daily volume of 43,002,286 shares. The stock had previously closed at $106.65.

Analysts Set New Price Targets

A number of equities research analysts recently commented on AMD shares. Summit Insights upgraded shares of Advanced Micro Devices to a “hold” rating in a report on Tuesday, February 4th. Jefferies Financial Group cut Advanced Micro Devices from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $135.00 to $120.00 in a research report on Thursday. KeyCorp dropped their target price on Advanced Micro Devices from $150.00 to $140.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Piper Sandler reaffirmed an “overweight” rating on shares of Advanced Micro Devices in a research report on Wednesday, February 19th. Finally, Hsbc Global Res downgraded shares of Advanced Micro Devices from a “strong-buy” rating to a “moderate sell” rating in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $152.72.

Advanced Micro Devices Stock Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 2.62 and a quick ratio of 1.83. The stock’s 50-day moving average price is $109.75 and its 200-day moving average price is $131.14. The company has a market cap of $167.28 billion, a P/E ratio of 104.26, a PEG ratio of 1.11 and a beta of 1.74.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.07. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. Equities analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Insider Buying and Selling

In other news, EVP Philip Guido bought 4,645 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were purchased at an average cost of $107.56 per share, with a total value of $499,616.20. Following the acquisition, the executive vice president now directly owns 33,522 shares in the company, valued at $3,605,626.32. This represents a 16.09 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.73% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Advanced Micro Devices

A number of large investors have recently modified their holdings of AMD. KLP Kapitalforvaltning AS acquired a new stake in Advanced Micro Devices in the fourth quarter valued at about $65,897,000. State Street Corp lifted its holdings in shares of Advanced Micro Devices by 2.3% in the third quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after acquiring an additional 1,580,035 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Advanced Micro Devices by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock valued at $5,597,337,000 after purchasing an additional 441,924 shares in the last quarter. Enzi Wealth bought a new stake in shares of Advanced Micro Devices during the 4th quarter valued at approximately $569,000. Finally, Welch Group LLC increased its position in Advanced Micro Devices by 6.3% during the 4th quarter. Welch Group LLC now owns 50,466 shares of the semiconductor manufacturer’s stock worth $6,179,000 after purchasing an additional 2,981 shares in the last quarter. Institutional investors and hedge funds 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.