Advanced Micro Devices (NASDAQ:AMD) Trading Down 0% – Here’s What Happened

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price traded down 0% during mid-day trading on Friday . The company traded as low as $117.54 and last traded at $118.83. 11,654,513 shares changed hands during trading, a decline of 69% from the average session volume of 37,445,445 shares. The stock had previously closed at $118.86.

Analysts Set New Price Targets

Several brokerages recently commented on AMD. Barclays cut their price objective on Advanced Micro Devices from $170.00 to $140.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Melius cut Advanced Micro Devices from a “buy” rating to a “hold” rating and decreased their target price for the stock from $160.00 to $129.00 in a report on Tuesday. Piper Sandler reissued an “overweight” rating and set a $180.00 price target (down previously from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Evercore ISI boosted their price objective on Advanced Micro Devices from $193.00 to $198.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Roth Mkm restated a “buy” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a research report on Friday, October 11th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Advanced Micro Devices currently has an average rating of “Moderate Buy” and an average price target of $171.04.

Advanced Micro Devices Stock Performance

The stock’s 50-day simple moving average is $126.37 and its 200 day simple moving average is $141.93. The company has a market capitalization of $189.28 billion, a PE ratio of 105.16, a P/E/G ratio of 1.04 and a beta of 1.66. 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 posted its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, meeting analysts’ consensus estimates of $0.92. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The firm had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same period last year, the firm posted $0.53 EPS. The company’s revenue was up 17.6% on a year-over-year basis. As a group, research analysts expect that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, CEO Lisa T. Su sold 76,496 shares of Advanced Micro Devices stock in a transaction that occurred on 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Forrest Eugene Norrod sold 40,540 shares of Advanced Micro Devices stock in a transaction on Tuesday, November 5th. The shares were 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 directly owns 293,347 shares of the company’s stock, 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. In the last quarter, insiders sold 197,036 shares of company stock worth $28,165,821. Company insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMD. State Street Corp lifted its stake in shares of Advanced Micro Devices by 2.3% in the third quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after acquiring an additional 1,580,035 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Advanced Micro Devices by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock valued at $5,597,337,000 after purchasing an additional 441,924 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of Advanced Micro Devices by 2.8% during the 3rd quarter. Fisher Asset Management LLC now owns 23,795,236 shares of the semiconductor manufacturer’s stock valued at $3,904,323,000 after buying an additional 644,039 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Advanced Micro Devices by 8.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,472,211 shares of the semiconductor manufacturer’s stock worth $3,195,000,000 after buying an additional 1,565,083 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of Advanced Micro Devices by 23.3% in the fourth quarter. Van ECK Associates Corp now owns 11,859,744 shares of the semiconductor manufacturer’s stock worth $1,432,538,000 after buying an additional 2,238,866 shares during the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

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.