Advanced Micro Devices (NASDAQ:AMD) Shares Gap Down - Should You Sell?

Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $95.29, but opened at $87.61. Advanced Micro Devices shares last traded at $89.48, with a volume of 15,088,588 shares.

Analysts Set New Price Targets

AMD has been the subject of a number of recent analyst reports. Hsbc Global Res cut shares of Advanced Micro Devices from a "strong-buy" rating to a "moderate sell" rating in a report on Wednesday, January 8th. Piper Sandler reissued an "overweight" rating on shares of Advanced Micro Devices in a report on Wednesday, February 19th. HSBC reiterated a "reduce" rating and set a $110.00 target price (down previously from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, January 8th. TD Cowen decreased their price objective on shares of Advanced Micro Devices from $135.00 to $110.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Finally, Melius Research restated a "hold" rating and set a $129.00 price target (down previously from $160.00) on shares of Advanced Micro Devices in a research report on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Advanced Micro Devices presently has a consensus rating of "Moderate Buy" and an average price target of $144.90.

Advanced Micro Devices Trading Down 0.9 %

The company's 50 day simple moving average is $100.93 and its 200 day simple moving average is $123.55. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.62 and a quick ratio of 1.83. The firm has a market cap of $141.42 billion, a price-to-earnings ratio of 88.38, a P/E/G ratio of 1.11 and a beta of 1.89.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.07. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. As a group, research analysts expect that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Mark D. Papermaster sold 17,500 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total transaction of $1,670,725.00. Following the completion of the sale, the executive vice president now owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. The trade was a 1.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Philip Guido purchased 4,645 shares of the business's stock in a transaction that occurred on Friday, February 7th. The shares were bought at an average price of $107.56 per share, for a total transaction of $499,616.20. Following the completion of the purchase, the executive vice president now directly owns 33,522 shares in the company, valued at $3,605,626.32. This represents a 16.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.06% of the company's stock.

Institutional Trading of Advanced Micro Devices

Institutional investors and hedge funds have recently made changes to their positions in the company. Broderick Brian C raised its position in Advanced Micro Devices by 0.3% in the 1st quarter. Broderick Brian C now owns 113,672 shares of the semiconductor manufacturer's stock valued at $11,679,000 after purchasing an additional 296 shares during the last quarter. Cornerstone Wealth Management LLC increased its position in Advanced Micro Devices by 2.4% in the 1st quarter. Cornerstone Wealth Management LLC now owns 10,270 shares of the semiconductor manufacturer's stock valued at $1,055,000 after acquiring an additional 241 shares during the period. Bender Robert & Associates raised its stake in Advanced Micro Devices by 5.2% during the 1st quarter. Bender Robert & Associates now owns 65,395 shares of the semiconductor manufacturer's stock valued at $6,719,000 after acquiring an additional 3,219 shares during the last quarter. Hemenway Trust Co LLC grew its stake in shares of Advanced Micro Devices by 2.4% in the 1st quarter. Hemenway Trust Co LLC now owns 262,889 shares of the semiconductor manufacturer's stock valued at $27,009,000 after purchasing an additional 6,283 shares during the last quarter. Finally, GSB Wealth Management LLC increased its holdings in shares of Advanced Micro Devices by 28.6% in the first quarter. GSB Wealth Management LLC now owns 35,463 shares of the semiconductor manufacturer's stock valued at $3,643,000 after purchasing an additional 7,891 shares during the period. 71.34% of the stock is owned by hedge funds and other institutional investors.

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.