Advanced Micro Devices (NASDAQ:AMD) Trading Down 1.4% - Here's Why

Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report)'s share price was down 1.4% during mid-day trading on Wednesday . The stock traded as low as $99.41 and last traded at $99.37. Approximately 8,378,556 shares traded hands during trading, a decline of 79% from the average daily volume of 39,968,492 shares. The stock had previously closed at $100.75.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on AMD shares. Summit Insights upgraded shares of Advanced Micro Devices to a "hold" rating in a research report on Tuesday, February 4th. UBS Group set a $175.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, February 5th. KeyCorp reduced their price objective on shares of Advanced Micro Devices from $150.00 to $140.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 5th. Mizuho reduced their price objective on shares of Advanced Micro Devices from $160.00 to $140.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 5th. Finally, The Goldman Sachs Group lowered shares of Advanced Micro Devices from a "buy" rating to a "neutral" rating and cut their target price for the company from $175.00 to $129.00 in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, nineteen have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Advanced Micro Devices presently has an average rating of "Moderate Buy" and an average price target of $155.83.

Advanced Micro Devices Price Performance

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 fifty day moving average of $115.41 and a two-hundred day moving average of $135.92. The stock has a market capitalization of $164.75 billion, a P/E ratio of 102.70, a P/E/G ratio of 1.11 and a beta of 1.65.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 earnings per share for the quarter, meeting the consensus estimate of $1.07. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. On average, analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Insider Activity at Advanced Micro Devices

In other news, EVP Philip Guido bought 4,645 shares of Advanced Micro Devices stock in a transaction on Friday, February 7th. The stock was acquired at an average cost of $107.56 per share, for a total transaction of $499,616.20. Following the completion of the acquisition, the executive vice president now owns 33,522 shares of the company's stock, valued at $3,605,626.32. This trade represents a 16.09 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.73% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Advanced Micro Devices

A number of large investors have recently added to or reduced their stakes in AMD. Norges Bank bought a new position in Advanced Micro Devices in the fourth quarter worth about $2,867,193,000. Toronto Dominion Bank grew its stake in shares of Advanced Micro Devices by 443.3% during the fourth quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock worth $660,475,000 after acquiring an additional 4,461,609 shares during the last quarter. Kovitz Investment Group Partners LLC grew its stake in shares of Advanced Micro Devices by 2,265.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 3,017,294 shares of the semiconductor manufacturer's stock worth $364,459,000 after acquiring an additional 2,889,739 shares during the last quarter. Northern Trust Corp grew its stake in shares of Advanced Micro Devices by 20.1% during the fourth quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer's stock worth $2,072,215,000 after acquiring an additional 2,874,012 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Advanced Micro Devices by 23.3% during the fourth quarter. Van ECK Associates Corp now owns 11,859,744 shares of the semiconductor manufacturer's stock worth $1,432,538,000 after acquiring an additional 2,238,866 shares during the last quarter. 71.34% of the stock is currently owned by 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.