Advanced Micro Devices (NASDAQ:AMD) Stock Price Down 0.1% – Here’s Why

Advanced Micro Devices, Inc. (NASDAQ:AMD) was down 0.1% during trading on Friday . The company traded as low as $137.19 and last traded at $137.35. Approximately 6,002,682 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 54,941,547 shares. The stock had previously closed at $137.49.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on AMD shares. Evercore ISI lifted their price objective on shares of Advanced Micro Devices from $193.00 to $198.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Benchmark reaffirmed a “buy” rating and set a $200.00 target price on shares of Advanced Micro Devices in a research report on Thursday, October 31st. StockNews.com downgraded Advanced Micro Devices from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. Truist Financial decreased their price objective on Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating for the company in a report on Wednesday, July 31st. Finally, Roth Mkm reiterated a “buy” rating and set a $200.00 target price on shares of Advanced Micro Devices in a report on Friday, October 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.79.

Advanced Micro Devices Stock Up 0.6 %

The stock has a market capitalization of $224.52 billion, a PE ratio of 124.64, a price-to-earnings-growth ratio of 1.90 and a beta of 1.71. 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 business’s fifty day moving average price is $153.67 and its two-hundred day moving average price is $154.58.

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

Insider Buying and Selling at Advanced Micro Devices

In related news, CEO Lisa T. Su sold 80,000 shares of Advanced Micro Devices stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the completion of the transaction, the chief executive officer now directly owns 3,566,762 shares in the company, valued at approximately $513,150,048.94. This trade represents a 2.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total value of $5,743,301.80. Following the completion of the sale, the executive vice president now owns 293,347 shares in the company, valued at approximately $41,558,469.49. This represents a 12.14 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.73% of the company’s stock.

Institutional Trading of Advanced Micro Devices

A number of hedge funds have recently added to or reduced their stakes in AMD. International Assets Investment Management LLC grew its stake in Advanced Micro Devices by 17,137.3% in the 3rd quarter. International Assets Investment Management LLC now owns 7,860,909 shares of the semiconductor manufacturer’s stock valued at $1,289,818,000 after acquiring an additional 7,815,305 shares during the period. Van ECK Associates Corp lifted its holdings in Advanced Micro Devices by 52.6% during the second quarter. Van ECK Associates Corp now owns 8,645,658 shares of the semiconductor manufacturer’s stock valued at $1,402,412,000 after purchasing an additional 2,979,204 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Advanced Micro Devices by 42.2% in the third quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock valued at $1,381,679,000 after purchasing an additional 2,497,056 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Advanced Micro Devices during the second quarter worth about $296,178,000. Finally, Swedbank AB acquired a new position in shares of Advanced Micro Devices during the 1st quarter worth about $290,842,000. 71.34% of the stock is owned by hedge funds and other institutional investors.

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.