Advanced Micro Devices (NASDAQ:AMD) Trading Down 5.8% - Here's What Happened

Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report) shares traded down 5.8% during trading on Wednesday . The stock traded as low as $87.59 and last traded at $89.76. 20,213,527 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 43,222,096 shares. The stock had previously closed at $95.29.

Analyst Ratings Changes

A number of research analysts recently weighed in on AMD shares. Argus set a $160.00 price objective on Advanced Micro Devices in a report on Thursday, February 6th. Melius downgraded shares of Advanced Micro Devices from a "buy" rating to a "hold" rating and cut their price target for the company from $160.00 to $129.00 in a report on Tuesday, January 28th. Wedbush reissued an "outperform" rating and set a $150.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, February 5th. Truist Financial set a $130.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, February 5th. Finally, HSBC reissued a "reduce" rating and set a $110.00 price target (down previously from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Advanced Micro Devices currently has a consensus rating of "Moderate Buy" and an average price target of $144.90.

Advanced Micro Devices Stock Down 0.9 %

The firm has a fifty day simple moving average of $100.93 and a 200 day simple moving average of $123.30. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62. The company has a market cap of $141.42 billion, a PE ratio of 88.38, a PEG ratio of 1.11 and a beta of 1.89.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its 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 net margin of 6.36% and a return on equity of 7.42%. Equities research analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of Advanced Micro Devices 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 transaction, the executive vice president now directly owns 1,713,710 shares of the company's stock, valued at $163,607,893.70. The trade was a 1.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Philip Guido acquired 4,645 shares of the company's stock in a transaction dated Friday, February 7th. The stock was acquired at an average cost of $107.56 per share, with a total value of $499,616.20. Following the transaction, the executive vice president now directly owns 33,522 shares of the company's stock, valued at approximately $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. Insiders own 0.06% of the company's stock.

Institutional Trading of Advanced Micro Devices

A number of hedge funds have recently made changes to their positions in AMD. Howard Capital Management Group LLC increased its stake in shares of Advanced Micro Devices by 21.6% in the third quarter. Howard Capital Management Group LLC now owns 1,827 shares of the semiconductor manufacturer's stock worth $300,000 after buying an additional 324 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Advanced Micro Devices by 30.2% during the third quarter. Principal Financial Group Inc. now owns 2,537,968 shares of the semiconductor manufacturer's stock worth $416,430,000 after purchasing an additional 588,595 shares during the last quarter. M&T Bank Corp lifted its holdings in Advanced Micro Devices by 6.0% in the third quarter. M&T Bank Corp now owns 116,889 shares of the semiconductor manufacturer's stock worth $19,179,000 after acquiring an additional 6,569 shares during the last quarter. Advisory Resource Group boosted its position in Advanced Micro Devices by 19.3% during the 3rd quarter. Advisory Resource Group now owns 7,920 shares of the semiconductor manufacturer's stock valued at $1,300,000 after purchasing an additional 1,282 shares during the period. Finally, Westside Investment Management Inc. increased its holdings in shares of Advanced Micro Devices by 1.9% in the 3rd quarter. Westside Investment Management Inc. now owns 5,407 shares of the semiconductor manufacturer's stock worth $815,000 after acquiring an additional 103 shares during the period. Hedge funds and other institutional investors own 71.34% of the company's stock.

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.