Advanced Micro Devices (NASDAQ:AMD) Shares Down 2% – Here’s Why

Advanced Micro Devices, Inc. (NASDAQ:AMD) fell 2% during trading on Tuesday . The company traded as low as $123.15 and last traded at $124.18. 15,529,412 shares traded 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 Upgrades and Downgrades

AMD has been the subject of a number of recent analyst reports. Citigroup lowered their price target on shares of Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Barclays lowered their price objective on 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. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $180.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. Roth Mkm restated a “buy” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a research note on Friday, October 11th. Finally, Morgan Stanley reduced their price objective on shares of Advanced Micro Devices from $178.00 to $169.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.36.

Advanced Micro Devices Price Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50. The company’s 50 day moving average price is $145.83 and its 200-day moving average price is $151.64. The company has a market cap of $202.57 billion, a price-to-earnings ratio of 111.87, a PEG ratio of 1.88 and a beta of 1.65.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data 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 company had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same period in the prior year, the firm earned $0.53 earnings per share. The business’s quarterly revenue was up 17.6% on a year-over-year basis. On average, equities research analysts forecast that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Activity at Advanced Micro Devices

In related news, CEO Lisa T. Su sold 76,496 shares of Advanced Micro Devices stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $142.66, for a total transaction of $10,912,919.36. Following the completion of the sale, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at approximately $508,834,266.92. This trade represents a 2.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $5,743,301.80. Following the completion of the transaction, the executive vice president now directly owns 293,347 shares in the company, valued at approximately $41,558,469.49. The trade was a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 197,036 shares of company stock valued at $28,165,821. Company insiders own 0.73% of the company’s stock.

Institutional Trading of Advanced Micro Devices

Large investors have recently made changes to their positions in the stock. International Assets Investment Management LLC lifted its stake in shares of Advanced Micro Devices by 17,137.3% during the third quarter. International Assets Investment Management LLC now owns 7,860,909 shares of the semiconductor manufacturer’s stock valued at $1,289,818,000 after acquiring an additional 7,815,305 shares during the period. Van ECK Associates Corp lifted its holdings in Advanced Micro Devices by 52.6% in the second quarter. Van ECK Associates Corp now owns 8,645,658 shares of the semiconductor manufacturer’s stock valued at $1,402,412,000 after buying an additional 2,979,204 shares during the period. Assenagon Asset Management S.A. grew its holdings in Advanced Micro Devices by 42.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock worth $1,381,679,000 after acquiring an additional 2,497,056 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Advanced Micro Devices during the 2nd quarter valued at $296,178,000. Finally, State Street Corp lifted 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 valued at $11,513,538,000 after purchasing an additional 1,580,035 shares during the period. Institutional investors 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.