Advanced Micro Devices (NASDAQ:AMD) Shares Down 3.4%

Advanced Micro Devices, Inc. (NASDAQ:AMD) was down 3.4% on Monday . The stock traded as low as $149.62 and last traded at $149.74. Approximately 17,113,771 shares were traded during trading, a decline of 73% from the average daily volume of 62,558,434 shares. The stock had previously closed at $154.98.

Wall Street Analysts Forecast Growth

AMD has been the subject of a number of recent research reports. TD Cowen reissued a “buy” rating and set a $210.00 price target on shares of Advanced Micro Devices in a research report on Monday, August 19th. Truist Financial dropped their price target on Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating on the stock in a research report on Wednesday, July 31st. Evercore ISI reduced their price objective on Advanced Micro Devices from $200.00 to $193.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Robert W. Baird lowered their price objective on Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Finally, Jefferies Financial Group initiated coverage on Advanced Micro Devices in a research note on Monday, May 13th. They issued a “buy” rating and a $190.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $193.45.

Advanced Micro Devices Trading Down 3.2 %

The firm has a market capitalization of $242.43 billion, a P/E ratio of 221.59, a PEG ratio of 1.79 and a beta of 1.69. The company has a quick ratio of 1.92, a current ratio of 2.82 and a debt-to-equity ratio of 0.03. The stock has a fifty day simple moving average of $154.30 and a 200 day simple moving average of $164.82.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.01. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 5.98%. The firm had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.72 billion. During the same quarter last year, the business posted $0.40 earnings per share. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. As a group, research analysts forecast that Advanced Micro Devices, Inc. will post 2.58 EPS for the current year.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,756 shares of Advanced Micro Devices stock in a transaction on Monday, July 15th. The shares were sold at an average price of $184.50, for a total value of $3,091,482.00. Following the completion of the transaction, the executive vice president now directly owns 1,546,227 shares of the company’s stock, valued at approximately $285,278,881.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Mark D. Papermaster sold 16,756 shares of Advanced Micro Devices stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $184.50, for a total value of $3,091,482.00. Following the completion of the transaction, the executive vice president now owns 1,546,227 shares in the company, valued at approximately $285,278,881.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mark D. Papermaster sold 16,200 shares of the stock in a transaction on Friday, June 14th. The shares were sold at an average price of $158.94, for a total value of $2,574,828.00. Following the sale, the executive vice president now owns 1,546,227 shares in the company, valued at approximately $245,757,319.38. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

A number of large investors have recently bought and sold shares of the business. Wealthquest Corp purchased a new stake in Advanced Micro Devices in the 2nd quarter valued at about $202,000. Founders Financial Alliance LLC boosted its holdings in shares of Advanced Micro Devices by 2.2% in the second quarter. Founders Financial Alliance LLC now owns 9,184 shares of the semiconductor manufacturer’s stock valued at $1,490,000 after purchasing an additional 201 shares during the period. PVG Asset Management Corp bought a new position in Advanced Micro Devices in the second quarter worth approximately $285,000. Heartland Bank & Trust Co increased its holdings in Advanced Micro Devices by 18.3% during the 2nd quarter. Heartland Bank & Trust Co now owns 7,421 shares of the semiconductor manufacturer’s stock worth $1,204,000 after purchasing an additional 1,146 shares during the period. Finally, SPC Financial Inc. bought a new stake in Advanced Micro Devices during the 2nd quarter valued at $474,000. Hedge funds and other institutional investors 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.