Advanced Micro Devices (NASDAQ:AMD) Shares Down 3.2% – Here’s Why

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price was down 3.2% during mid-day trading on Monday . The company traded as low as $250.30 and last traded at $251.31. Approximately 30,482,736 shares traded hands during trading, a decline of 23% from the average daily volume of 39,678,477 shares. The stock had previously closed at $259.68.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Evercore ISI upped their target price on Advanced Micro Devices from $270.00 to $283.00 and gave the company an “outperform” rating in a research report on Wednesday, November 12th. TD Cowen reaffirmed a “buy” rating on shares of Advanced Micro Devices in a research note on Tuesday, December 2nd. Benchmark increased their price objective on shares of Advanced Micro Devices from $270.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Dbs Bank upgraded shares of Advanced Micro Devices from a “hold” rating to a “moderate buy” rating in a research report on Monday, October 6th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Advanced Micro Devices in a report on Thursday, January 15th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $281.06.

Advanced Micro Devices Trading Down 3.2%

The business’s 50 day moving average price is $218.66 and its two-hundred day moving average price is $199.30. The company has a market capitalization of $409.14 billion, a price-to-earnings ratio of 124.41, a P/E/G ratio of 1.08 and a beta of 1.95. The company has a current ratio of 2.31, a quick ratio of 1.68 and a debt-to-equity ratio of 0.04.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data on Tuesday, November 4th. The semiconductor manufacturer reported $1.20 EPS for the quarter, beating the consensus estimate of $1.17 by $0.03. The business had revenue of $9.25 billion during the quarter, compared to the consensus estimate of $8.76 billion. Advanced Micro Devices had a net margin of 10.32% and a return on equity of 8.04%. The firm’s revenue was up 35.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.92 EPS. On average, equities analysts predict that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Insider Transactions at Advanced Micro Devices

In related news, CEO Lisa T. Su sold 125,000 shares of the business’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $215.14, for a total transaction of $26,892,500.00. Following the sale, the chief executive officer owned 3,277,476 shares in the company, valued at $705,116,186.64. The trade was a 3.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Mark D. Papermaster sold 17,108 shares of the company’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $240.12, for a total value of $4,107,972.96. Following the completion of the transaction, the executive vice president directly owned 1,714,505 shares of the company’s stock, valued at approximately $411,686,940.60. The trade was a 0.99% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 164,000 shares of company stock worth $36,034,173. Insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

Large investors have recently modified their holdings of the business. Moran Wealth Management LLC increased its holdings in Advanced Micro Devices by 12.8% in the fourth quarter. Moran Wealth Management LLC now owns 23,793 shares of the semiconductor manufacturer’s stock valued at $5,096,000 after purchasing an additional 2,699 shares during the period. Tanager Wealth Management LLP boosted its holdings in Advanced Micro Devices by 10.4% in the fourth quarter. Tanager Wealth Management LLP now owns 1,524 shares of the semiconductor manufacturer’s stock valued at $326,000 after acquiring an additional 144 shares during the last quarter. Keystone Wealth Services LLC increased its position in Advanced Micro Devices by 4.5% during the 4th quarter. Keystone Wealth Services LLC now owns 9,170 shares of the semiconductor manufacturer’s stock valued at $1,964,000 after purchasing an additional 398 shares during the period. Chicago Capital LLC lifted its position in shares of Advanced Micro Devices by 7.0% in the 4th quarter. Chicago Capital LLC now owns 120,597 shares of the semiconductor manufacturer’s stock worth $25,827,000 after purchasing an additional 7,847 shares during the period. Finally, Asset Dedication LLC boosted its stake in shares of Advanced Micro Devices by 3.2% in the 4th quarter. Asset Dedication LLC now owns 7,825 shares of the semiconductor manufacturer’s stock valued at $1,676,000 after purchasing an additional 245 shares during the last quarter. Institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Company Profile

Advanced Micro Devices, Inc (NASDAQ: AMD) is a global semiconductor company that designs and sells microprocessors, graphics processors, chipsets and adaptive computing solutions for a broad set of markets. The company’s product portfolio includes consumer and commercial CPUs under the Ryzen and Threadripper brands, data center processors under the EPYC brand, and Radeon graphics processing units for gaming and professional visualization. AMD also offers semi-custom system-on-chip (SoC) products for gaming consoles and other specialized applications, and provides supporting software and platform technologies for OEMs, cloud service providers and end users.

Founded in 1969, AMD has evolved from a supplier of logic chips into a diversified, fabless semiconductor designer.