Advanced Micro Devices (NASDAQ:AMD) Shares Down 4.1% – Time to Sell?

Advanced Micro Devices, Inc. (NASDAQ:AMD) dropped 4.1% on Wednesday . The company traded as low as $120.77 and last traded at $122.11. Approximately 19,779,599 shares were traded during mid-day trading, a decline of 44% from the average daily volume of 35,398,195 shares. The stock had previously closed at $127.33.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AMD. UBS Group reduced their target price on Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Benchmark reiterated a “buy” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research report on Thursday, October 31st. TD Cowen cut their price target on shares of Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Piper Sandler restated 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. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set 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, five have issued a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $187.86.

Advanced Micro Devices Price Performance

The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. The stock has a market cap of $197.45 billion, a P/E ratio of 109.61, a P/E/G ratio of 1.88 and a beta of 1.66. The firm has a 50 day moving average price of $134.07 and a 200 day moving average price of $147.40.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, hitting the consensus estimate of $0.92. The company 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 revenue for the quarter was up 17.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.53 earnings per share. On average, analysts forecast that Advanced Micro Devices, Inc. will post 2.54 EPS for the current fiscal year.

Insider Activity at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction on 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 owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. This trade represents a 12.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Lisa T. Su sold 76,496 shares of the firm’s 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 sale, the chief executive officer now directly owns 3,566,762 shares in the company, valued at approximately $508,834,266.92. The trade was a 2.10 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 197,036 shares of company stock worth $28,165,821. Insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. State Street Corp increased its stake in shares of Advanced Micro Devices by 2.3% in the 3rd 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 during the last quarter. Geode Capital Management LLC lifted its stake 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 during the last quarter. Fisher Asset Management LLC increased its position in shares of Advanced Micro Devices by 2.8% during the third quarter. Fisher Asset Management LLC now owns 23,795,236 shares of the semiconductor manufacturer’s stock valued at $3,904,323,000 after acquiring an additional 644,039 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Advanced Micro Devices by 8.7% in the 3rd 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 valued at $3,195,000,000 after purchasing an additional 1,565,083 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Advanced Micro Devices by 1.4% during the second quarter. Legal & General Group Plc now owns 13,310,158 shares of the semiconductor manufacturer’s stock worth $2,159,039,000 after buying an additional 188,580 shares during the period. 71.34% of the stock is owned by institutional investors and hedge funds.

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.