Advanced Micro Devices (NASDAQ:AMD) Trading Down 5.3% – Here’s What Happened

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price dropped 5.3% during trading on Wednesday . The stock traded as low as $197.53 and last traded at $198.1630. Approximately 31,070,522 shares changed hands during trading, a decline of 37% from the average daily volume of 49,078,840 shares. The stock had previously closed at $209.17.

Analysts Set New Price Targets

AMD has been the topic of a number of analyst reports. Citigroup boosted their price target on Advanced Micro Devices from $215.00 to $260.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. DZ Bank upgraded Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $250.00 price objective for the company in a research note on Wednesday, October 8th. Evercore ISI increased their target price on Advanced Micro Devices from $270.00 to $283.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 12th. Loop Capital set a $290.00 price target on Advanced Micro Devices and gave the company a “buy” rating in a report on Wednesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft set a $235.00 price target on Advanced Micro Devices and gave the stock a “hold” rating in a research report on Tuesday, October 14th. Three analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, Advanced Micro Devices currently has an average rating of “Moderate Buy” and a consensus target price of $277.11.

Advanced Micro Devices Stock Down 5.3%

The stock has a market cap of $322.62 billion, a PE ratio of 98.10, a PEG ratio of 1.54 and a beta of 1.93. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.31 and a quick ratio of 1.68. The company has a 50 day moving average price of $231.14 and a two-hundred day moving average price of $181.40.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data on Tuesday, November 4th. The semiconductor manufacturer reported $1.20 EPS for the quarter, topping the consensus estimate of $1.17 by $0.03. Advanced Micro Devices had a return on equity of 8.04% and a net margin of 10.32%.The company had revenue of $9.25 billion during the quarter, compared to the consensus estimate of $8.76 billion. During the same period last year, the company earned $0.92 EPS. Advanced Micro Devices’s revenue for the quarter was up 35.6% on a year-over-year basis. Analysts expect that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Insider Activity at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,108 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $240.12, for a total transaction 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 $411,686,940.60. The trade was a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lisa T. Su sold 125,000 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $215.14, for a total transaction of $26,892,500.00. Following the transaction, the chief executive officer owned 3,277,476 shares in the company, valued at approximately $705,116,186.64. This trade represents a 3.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 183,476 shares of company stock valued at $40,249,093. Insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

A number of institutional investors have recently bought and sold shares of the stock. ORG Wealth Partners LLC lifted its position in shares of Advanced Micro Devices by 39.7% during the 3rd quarter. ORG Wealth Partners LLC now owns 162 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 46 shares in the last quarter. Koesten Hirschmann & Crabtree INC. raised its stake in Advanced Micro Devices by 61.0% during the 3rd quarter. Koesten Hirschmann & Crabtree INC. now owns 161 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 61 shares during the period. Pinney & Scofield Inc. boosted its position in shares of Advanced Micro Devices by 81.0% in the second quarter. Pinney & Scofield Inc. now owns 190 shares of the semiconductor manufacturer’s stock worth $27,000 after purchasing an additional 85 shares during the period. Dogwood Wealth Management LLC boosted its position in shares of Advanced Micro Devices by 2,311.1% in the second quarter. Dogwood Wealth Management LLC now owns 217 shares of the semiconductor manufacturer’s stock worth $30,000 after purchasing an additional 208 shares during the period. Finally, Avion Wealth increased its stake in shares of Advanced Micro Devices by 49.3% in the second quarter. Avion Wealth now owns 218 shares of the semiconductor manufacturer’s stock worth $30,000 after purchasing an additional 72 shares in the last quarter. 71.34% of the stock is owned by institutional investors.

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.