Advanced Micro Devices (NASDAQ:AMD) Hits New 52-Week Low – What’s Next?

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $112.80 and last traded at $115.05, with a volume of 60841785 shares. The stock had previously closed at $122.84.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AMD. Mizuho decreased their price objective on Advanced Micro Devices from $180.00 to $160.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Wolfe Research downgraded shares of Advanced Micro Devices from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 16th. HSBC reaffirmed a “reduce” rating and issued a $110.00 price objective (down from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, January 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $180.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $250.00 price objective on shares of Advanced Micro Devices in a report on Monday, October 28th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $176.33.

Advanced Micro Devices Stock Performance

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 company has a 50 day simple moving average of $128.12 and a 200-day simple moving average of $143.21. The stock has a market capitalization of $186.71 billion, a P/E ratio of 103.65, a price-to-earnings-growth ratio of 1.09 and a beta of 1.66.

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

Insider Activity

In other news, EVP Forrest Eugene Norrod sold 40,540 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the sale, the executive vice president now directly 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Lisa T. Su sold 80,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 owns 3,566,762 shares of the company’s stock, valued at $513,150,048.94. This trade represents a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 197,036 shares of company stock valued at $28,165,821 over the last quarter. Company insiders own 0.73% of the company’s stock.

Institutional Trading of Advanced Micro Devices

Several institutional investors and hedge funds have recently bought and sold shares of AMD. Creative Capital Management Investments LLC raised its position in shares of Advanced Micro Devices by 124.6% in the third quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 86 shares in the last quarter. ZRC Wealth Management LLC increased its stake in Advanced Micro Devices by 90.4% in the 3rd quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 75 shares during the last quarter. Global Wealth Strategies & Associates purchased a new stake in shares of Advanced Micro Devices in the 4th quarter valued at about $26,000. FSA Wealth Management LLC bought a new stake in shares of Advanced Micro Devices during the 3rd quarter valued at about $41,000. Finally, Coston McIsaac & Partners grew its holdings in shares of Advanced Micro Devices by 319.4% during the third quarter. Coston McIsaac & Partners now owns 260 shares of the semiconductor manufacturer’s stock worth $42,000 after purchasing an additional 198 shares in the last quarter. 71.34% of the stock is currently owned by hedge funds and other 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.