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 Thursday . The stock traded as low as $105.55 and last traded at $106.96. Approximately 15,142,907 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 43,113,304 shares. The stock had previously closed at $110.19.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Truist Financial set a $130.00 price target on Advanced Micro Devices in a research report on Wednesday, February 5th. Roth Capital set a $140.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, February 5th. Melius Research reissued a “hold” rating and set a $129.00 target price (down from $160.00) on shares of Advanced Micro Devices in a research note on Tuesday, January 28th. Piper Sandler restated an “overweight” rating on shares of Advanced Micro Devices in a research note on Wednesday, February 19th. Finally, UBS Group set a $175.00 price target on Advanced Micro Devices in a research report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $152.72.

Advanced Micro Devices Stock Performance

The stock has a market cap of $172.32 billion, a PE ratio of 107.43, a price-to-earnings-growth ratio of 1.11 and a beta of 1.74. The stock has a fifty day moving average of $109.99 and a 200-day moving average of $131.31. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results 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 return on equity of 7.42% and a net margin of 6.36%. On average, equities analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Insider Activity

In other Advanced Micro Devices news, EVP Philip Guido purchased 4,645 shares of Advanced Micro Devices stock in a transaction dated Friday, February 7th. The stock was acquired 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 of the company’s stock, valued at $3,605,626.32. This represents a 16.09 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. KLP Kapitalforvaltning AS acquired a new position in shares of Advanced Micro Devices during the 4th quarter worth $65,897,000. State Street Corp grew its holdings in Advanced Micro Devices by 2.3% during 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 purchasing an additional 1,580,035 shares in the last quarter. Geode Capital Management LLC increased its stake in 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 buying an additional 441,924 shares during the period. Enzi Wealth acquired a new position in Advanced Micro Devices in the 4th quarter worth $569,000. Finally, Welch Group LLC boosted its position in Advanced Micro Devices by 6.3% in the 4th quarter. Welch Group LLC now owns 50,466 shares of the semiconductor manufacturer’s stock valued at $6,179,000 after buying an additional 2,981 shares during 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.