Advanced Micro Devices (NASDAQ:AMD) Shares Down 2% – What’s Next?

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price traded down 2% during mid-day trading on Tuesday . The stock traded as low as $123.15 and last traded at $124.18. 15,529,412 shares changed hands during trading, a decline of 71% from the average session volume of 53,665,270 shares. The stock had previously closed at $126.69.

Analyst Ratings Changes

Several research firms recently weighed in on AMD. Barclays cut their target price on shares of Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Benchmark reaffirmed a “buy” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a report on Thursday, October 31st. Mizuho reduced their price target on shares of Advanced Micro Devices from $185.00 to $180.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Citigroup reduced their target price on shares of Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $180.00 price target on shares of Advanced Micro Devices in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $192.36.

Advanced Micro Devices Stock Performance

The firm has a market capitalization of $202.57 billion, a price-to-earnings ratio of 111.87, a PEG ratio of 1.88 and a beta of 1.65. 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 firm has a 50 day moving average price of $145.83 and a 200-day moving average price of $151.64.

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 business had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The company’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.53 EPS. As a group, sell-side analysts expect that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Lisa T. Su sold 76,496 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total value of $10,912,919.36. Following the completion of the transaction, the chief executive officer now owns 3,566,762 shares in the company, valued at $508,834,266.92. This trade represents a 2.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total transaction 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 $41,558,469.49. This represents a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 197,036 shares of company stock worth $28,165,821 in the last quarter. 0.73% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its holdings in shares of Advanced Micro Devices by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,656,965 shares of the semiconductor manufacturer’s stock worth $1,584,515,000 after purchasing an additional 177,700 shares during the period. Swiss National Bank increased its position in shares of Advanced Micro Devices by 0.3% in the third quarter. Swiss National Bank now owns 4,797,575 shares of the semiconductor manufacturer’s stock worth $787,186,000 after acquiring an additional 12,500 shares in the last quarter. Shum Financial Group Inc. purchased a new position in shares of Advanced Micro Devices in the 3rd quarter valued at $858,000. State Street Corp lifted its holdings in shares of Advanced Micro Devices by 2.3% during the 3rd quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock valued at $11,513,538,000 after acquiring an additional 1,580,035 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Advanced Micro Devices by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock worth $5,597,337,000 after purchasing an additional 441,924 shares during the period. Institutional investors and hedge funds 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.