Advanced Micro Devices (NASDAQ:AMD) Stock Price Down 1.6% - Here's What Happened

Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report) shares were down 1.6% on Tuesday . The stock traded as low as $144.70 and last traded at $145.01. Approximately 8,780,398 shares were traded during trading, a decline of 84% from the average daily volume of 55,752,672 shares. The stock had previously closed at $147.35.

Analyst Ratings Changes

AMD has been the subject of several research analyst reports. Citigroup reduced 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 research report on Wednesday, October 30th. Barclays lowered their price target on shares of Advanced Micro Devices from $180.00 to $170.00 and set an "overweight" rating for the company in a research report on Wednesday, October 30th. BNP Paribas raised shares of Advanced Micro Devices to a "strong-buy" rating in a research report on Wednesday, July 31st. Piper Sandler restated an "overweight" rating and issued a $180.00 price target (down from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Finally, Wedbush reiterated an "outperform" rating and set a $200.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $192.79.

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 firm has a 50 day moving average price of $154.41 and a 200 day moving average price of $155.52. The stock has a market cap of $233.08 billion, a P/E ratio of 130.64, a P/E/G ratio of 2.05 and a beta of 1.71.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.92. The business had revenue of $6.82 billion during 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 company's revenue for the quarter was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.53 EPS. On average, analysts forecast that Advanced Micro Devices, Inc. will post 2.53 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of Advanced Micro Devices stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total value of $5,743,301.80. Following the completion of the sale, the executive vice president now owns 293,347 shares of the company's stock, valued at approximately $41,558,469.49. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Lisa T. Su sold 80,000 shares of the stock in a transaction 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 $513,150,048.94. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Forrest Eugene Norrod sold 40,540 shares of Advanced Micro Devices stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 293,347 shares in the company, valued at $41,558,469.49. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company's stock.

Institutional Investors Weigh In On Advanced Micro Devices

Institutional investors and hedge funds have recently modified their holdings of the company. Cherrydale Wealth Management LLC lifted its stake in Advanced Micro Devices by 4.7% in the second quarter. Cherrydale Wealth Management LLC now owns 1,305 shares of the semiconductor manufacturer's stock worth $212,000 after acquiring an additional 58 shares during the last quarter. Christopher J. Hasenberg Inc grew its stake in shares of Advanced Micro Devices by 12.0% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 560 shares of the semiconductor manufacturer's stock worth $97,000 after purchasing an additional 60 shares during the last quarter. Delta Financial Group Inc. raised its position in shares of Advanced Micro Devices by 5.0% in the second quarter. Delta Financial Group Inc. now owns 1,325 shares of the semiconductor manufacturer's stock valued at $215,000 after purchasing an additional 63 shares during the period. Trivant Custom Portfolio Group LLC boosted its stake in shares of Advanced Micro Devices by 0.3% in the 2nd quarter. Trivant Custom Portfolio Group LLC now owns 24,629 shares of the semiconductor manufacturer's stock valued at $3,995,000 after purchasing an additional 65 shares in the last quarter. Finally, Wealth Effects LLC increased its stake in Advanced Micro Devices by 0.7% during the 3rd 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. Institutional investors and hedge funds 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.

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