Advanced Micro Devices (NASDAQ:AMD) Stock Price Down 2.2% – Here’s What Happened

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) were down 2.2% during trading on Monday . The stock traded as low as $77.75 and last traded at $83.91. Approximately 28,507,158 shares changed hands during mid-day trading, a decline of 34% from the average daily volume of 43,012,939 shares. The stock had previously closed at $85.76.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. The Goldman Sachs Group lowered Advanced Micro Devices from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $175.00 to $129.00 in a research note on Friday, January 10th. Jefferies Financial Group downgraded Advanced Micro Devices from a “buy” rating to a “hold” rating and reduced their target price for the stock from $135.00 to $120.00 in a research report on Thursday, March 27th. HSBC restated a “reduce” rating and issued a $110.00 price target (down previously from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, January 8th. Hsbc Global Res lowered shares of Advanced Micro Devices from a “strong-buy” rating to a “moderate sell” rating in a report on Wednesday, January 8th. Finally, Barclays lowered their target price on shares of Advanced Micro Devices from $170.00 to $140.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $152.72.

Advanced Micro Devices Stock Performance

The firm has a market cap of $135.19 billion, a price-to-earnings ratio of 84.49, a PEG ratio of 1.11 and a beta of 1.89. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. The company has a 50 day moving average of $106.25 and a 200 day moving average of $128.29.

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, hitting 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, equities research analysts expect that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Insider Activity at Advanced Micro Devices

In other news, EVP Philip Guido bought 4,645 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was bought at an average price 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 in the company, valued at $3,605,626.32. The trade was a 16.09 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.73% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Advanced Micro Devices

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bear Mountain Capital Inc. bought a new position in shares of Advanced Micro Devices during the fourth quarter valued at approximately $25,000. Global Wealth Strategies & Associates acquired a new position in Advanced Micro Devices during the 4th quarter valued at approximately $26,000. Greenline Partners LLC bought a new position in Advanced Micro Devices during the 4th quarter worth $28,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Advanced Micro Devices in the fourth quarter worth $29,000. Finally, Mpwm Advisory Solutions LLC bought a new stake in Advanced Micro Devices in the fourth quarter valued at $30,000. 71.34% of the stock is owned by institutional investors and hedge funds.

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.