Advanced Micro Devices (NASDAQ:AMD) Reaches New 52-Week Low – Here’s Why

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $120.43 and last traded at $121.41, with a volume of 49394848 shares changing hands. The stock had previously closed at $125.02.

Analysts Set New Price Targets

AMD has been the topic of several research analyst reports. Barclays decreased their price target on Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. UBS Group lowered their target price on Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Benchmark restated a “buy” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a research report on Thursday, October 31st. Piper Sandler reiterated an “overweight” rating and issued a $180.00 price objective (down from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $180.00 target price on shares of Advanced Micro Devices in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $191.96.

Advanced Micro Devices Stock Up 0.3 %

The stock has a fifty day moving average price of $142.00 and a 200-day moving average price of $150.61. The firm has a market cap of $193.45 billion, a PE ratio of 107.40, a PEG ratio of 1.88 and a beta of 1.65. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data 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 company had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. Advanced Micro Devices’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.53 earnings per share. Research analysts expect that Advanced Micro Devices, Inc. will post 2.54 EPS for the current year.

Insider Buying and Selling at Advanced Micro Devices

In other news, CEO Lisa T. Su sold 76,496 shares of Advanced Micro Devices stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $142.66, for a total transaction of $10,912,919.36. Following the sale, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at approximately $508,834,266.92. The trade was a 2.10 % 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 business’s stock in a transaction dated 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 transaction, the executive vice president now owns 293,347 shares in the company, valued at approximately $41,558,469.49. This trade represents a 12.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 197,036 shares of company stock valued at $28,165,821 over the last three months. 0.73% of the stock is owned by company insiders.

Hedge Funds Weigh In On Advanced Micro Devices

A number of institutional investors have recently made changes to their positions in AMD. International Assets Investment Management LLC lifted its holdings in Advanced Micro Devices by 17,137.3% during the 3rd quarter. International Assets Investment Management LLC now owns 7,860,909 shares of the semiconductor manufacturer’s stock worth $1,289,818,000 after buying an additional 7,815,305 shares during the last quarter. Van ECK Associates Corp lifted its stake 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 worth $1,402,412,000 after purchasing an additional 2,979,204 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in 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 worth $1,381,679,000 after purchasing an additional 2,497,056 shares during the period. Renaissance Technologies LLC bought a new stake in Advanced Micro Devices during the second quarter valued at $296,178,000. Finally, State Street Corp raised its holdings in shares of Advanced Micro Devices by 2.3% during the third quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after purchasing an additional 1,580,035 shares during the period. 71.34% of the stock is owned by institutional investors and hedge funds.

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.