Advanced Micro Devices (NASDAQ:AMD) Shares Down 0.9% – Here’s Why

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) were down 0.9% on Thursday . The company traded as low as $118.25 and last traded at $118.87. Approximately 11,788,800 shares traded hands during trading, a decline of 70% from the average daily volume of 38,982,680 shares. The stock had previously closed at $119.96.

Analysts Set New Price Targets

Several equities analysts have commented on AMD shares. Morgan Stanley cut their price target on Advanced Micro Devices from $169.00 to $158.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Piper Sandler reiterated an “overweight” rating and set a $180.00 price target (down previously from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Wolfe Research cut shares of Advanced Micro Devices from an “outperform” rating to a “peer perform” rating in a research note on Thursday. UBS Group dropped their target price on Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Finally, KeyCorp decreased their price target on Advanced Micro Devices from $220.00 to $150.00 and set an “overweight” rating on the stock in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and an average price target of $179.68.

Advanced Micro Devices Trading Down 0.8 %

The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78. The company has a market cap of $193.06 billion, a PE ratio of 107.48, a PEG ratio of 1.03 and a beta of 1.66. The firm’s 50 day moving average is $131.60 and its 200 day moving average is $145.95.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.92. The business had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.71 billion. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. Advanced Micro Devices’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same period last year, the company earned $0.53 EPS. On average, equities analysts anticipate that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current year.

Insider Activity

In other news, CEO Lisa T. Su sold 76,496 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total transaction of $10,912,919.36. Following the transaction, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at approximately $508,834,266.92. This trade represents a 2.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 owns 293,347 shares of the company’s stock, valued at $41,558,469.49. This represents a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 197,036 shares of company stock valued at $28,165,821 in the last 90 days. 0.73% of the stock is currently owned by insiders.

Institutional Trading of Advanced Micro Devices

Institutional investors have recently bought and sold shares of the stock. State Street Corp raised its holdings in Advanced Micro Devices by 2.3% in the 3rd quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock valued at $11,513,538,000 after acquiring an additional 1,580,035 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Advanced Micro Devices by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock worth $5,597,337,000 after purchasing an additional 441,924 shares during the last quarter. Fisher Asset Management LLC raised its stake in Advanced Micro Devices by 2.8% in the third quarter. Fisher Asset Management LLC now owns 23,795,236 shares of the semiconductor manufacturer’s stock valued at $3,904,323,000 after buying an additional 644,039 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Advanced Micro Devices by 8.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,472,211 shares of the semiconductor manufacturer’s stock worth $3,195,000,000 after purchasing an additional 1,565,083 shares during the last quarter. Finally, Legal & General Group Plc grew its position in shares of Advanced Micro Devices by 1.4% in the 2nd quarter. Legal & General Group Plc now owns 13,310,158 shares of the semiconductor manufacturer’s stock valued at $2,159,039,000 after buying an additional 188,580 shares during 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.