Advanced Micro Devices (NASDAQ:AMD) Shares Down 6% – Here’s What Happened

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price traded down 6% on Thursday . The stock traded as low as $96.43 and last traded at $96.79. 13,655,650 shares were traded during mid-day trading, a decline of 68% from the average session volume of 43,136,889 shares. The stock had previously closed at $102.96.

Analysts Set New Price Targets

AMD has been the subject of a number of recent analyst reports. Benchmark restated a “buy” rating and issued a $170.00 price objective on shares of Advanced Micro Devices in a research report on Tuesday, February 18th. TD Cowen lowered their target price on shares of Advanced Micro Devices from $185.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Susquehanna reduced their price target on shares of Advanced Micro Devices from $165.00 to $150.00 and set a “positive” rating for the company in a research report on Wednesday, February 5th. Wolfe Research downgraded Advanced Micro Devices from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 16th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $250.00 price objective on shares of Advanced Micro Devices in a research report on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Advanced Micro Devices presently has an average rating of “Moderate Buy” and a consensus price target of $152.72.

Advanced Micro Devices Stock Performance

The stock has a market capitalization of $138.61 billion, a PE ratio of 86.63, a P/E/G ratio of 1.11 and a beta of 1.88. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62. The firm has a 50 day moving average of $106.88 and a 200-day moving average of $129.10.

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

Insider Activity at Advanced Micro Devices

In related news, EVP Philip Guido acquired 4,645 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was acquired at an average price of $107.56 per share, with a total value of $499,616.20. Following the completion of the transaction, the executive vice president now owns 33,522 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through the SEC website. 0.65% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Advanced Micro Devices

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

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.