Advanced Micro Devices (NASDAQ:AMD) Sets New 1-Year Low - What's Next?

Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report) shares hit a new 52-week low on Friday . The stock traded as low as $115.01 and last traded at $115.28, with a volume of 12895736 shares trading hands. The stock had previously closed at $121.84.

Wall Street Analyst Weigh In

AMD has been the subject of a number of recent analyst reports. Piper Sandler reaffirmed an "overweight" rating and set a $180.00 price target (down from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. HSBC reaffirmed a "reduce" rating and set a $110.00 target price (down previously from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday. Cantor Fitzgerald reissued an "overweight" rating and set a $180.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Morgan Stanley cut their price objective on Advanced Micro Devices from $169.00 to $158.00 and set an "equal weight" rating on the stock in a research report on Friday, December 20th. Finally, Bank of America downgraded Advanced Micro Devices from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $180.00 to $155.00 in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $185.22.

Advanced Micro Devices Price Performance

The stock has a 50-day moving average price of $132.58 and a two-hundred day moving average price of $146.74. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. The stock has a market cap of $188.31 billion, a price-to-earnings ratio of 104.54, a PEG ratio of 1.88 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, hitting the consensus estimate of $0.92. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The business had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter last year, the company earned $0.53 earnings per share. The company's quarterly revenue was up 17.6% on a year-over-year basis. As a group, equities research analysts forecast that Advanced Micro Devices, Inc. will post 2.54 EPS for the current year.

Insider Activity

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 40,540 shares of the company's stock in a transaction that occurred on 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 sale, the executive vice president now owns 293,347 shares in the company, valued at approximately $41,558,469.49. This represents a 12.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Lisa T. Su sold 80,000 shares of Advanced Micro Devices 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 transaction, the chief executive officer now directly owns 3,566,762 shares of the company's stock, valued at approximately $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. Over the last three months, insiders have sold 197,036 shares of company stock valued at $28,165,821. Company insiders own 0.65% of the company's stock.

Institutional Trading of Advanced Micro Devices

A number of institutional investors and hedge funds have recently made changes to their positions in AMD. Christopher J. Hasenberg Inc raised its holdings in shares of Advanced Micro Devices by 12.0% during the third quarter. Christopher J. Hasenberg Inc now owns 560 shares of the semiconductor manufacturer's stock valued at $97,000 after acquiring an additional 60 shares during the last quarter. Wealth Effects LLC increased its position in shares of Advanced Micro Devices by 0.7% during the third quarter. Wealth Effects LLC now owns 9,419 shares of the semiconductor manufacturer's stock worth $1,545,000 after purchasing an additional 65 shares in the last quarter. Jacobsen Capital Management raised its stake in Advanced Micro Devices by 2.1% in the 3rd quarter. Jacobsen Capital Management now owns 3,378 shares of the semiconductor manufacturer's stock valued at $554,000 after purchasing an additional 70 shares during the last quarter. Sigma Investment Counselors Inc. lifted its holdings in Advanced Micro Devices by 5.3% in the 3rd quarter. Sigma Investment Counselors Inc. now owns 1,482 shares of the semiconductor manufacturer's stock valued at $243,000 after purchasing an additional 74 shares in the last quarter. Finally, Bedell Frazier Investment Counselling LLC boosted its stake in Advanced Micro Devices by 4.3% during the 3rd quarter. Bedell Frazier Investment Counselling LLC now owns 1,780 shares of the semiconductor manufacturer's stock worth $292,000 after purchasing an additional 74 shares during the last quarter. 71.34% of the stock is currently owned by hedge funds and other 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.