Advanced Micro Devices (NASDAQ:AMD) Shares Down 0.7%

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report) fell 0.7% on Wednesday . The company traded as low as $148.93 and last traded at $149.82. 6,603,154 shares traded hands during trading, a decline of 89% from the average session volume of 60,036,867 shares. The stock had previously closed at $150.82.

Analysts Set New Price Targets

A number of research firms recently weighed in on AMD. Robert W. Baird dropped their price target on Advanced Micro Devices from $200.00 to $175.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 31st. Bank of America lowered their price objective on Advanced Micro Devices from $195.00 to $180.00 and set a "buy" rating for the company in a research note on Wednesday, July 31st. Citigroup increased their price objective on Advanced Micro Devices from $176.00 to $210.00 and gave the stock a "buy" rating in a research note on Monday, July 15th. Truist Financial lowered their price objective on Advanced Micro Devices from $162.00 to $156.00 and set a "hold" rating for the company in a research note on Wednesday, July 31st. Finally, Edward Jones initiated coverage on Advanced Micro Devices in a research note on Tuesday, August 20th. They issued a "buy" rating for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-seven have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Advanced Micro Devices currently has a consensus rating of "Moderate Buy" and an average price target of $193.45.

Advanced Micro Devices Stock Down 1.7 %

The company has a quick ratio of 2.01, a current ratio of 2.82 and a debt-to-equity ratio of 0.03. The company has a market cap of $239.68 billion, a PE ratio of 218.07, a P/E/G ratio of 2.04 and a beta of 1.69. The stock has a 50-day moving average of $147.79 and a 200-day moving average of $161.04.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.01. Advanced Micro Devices had a return on equity of 5.98% and a net margin of 5.82%. The firm had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.72 billion. During the same quarter in the previous year, the company posted $0.40 earnings per share. The company's revenue was up 8.9% compared to the same quarter last year. Sell-side analysts predict that Advanced Micro Devices, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Mark D. Papermaster sold 16,756 shares of the business's stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $184.50, for a total value of $3,091,482.00. Following the completion of the sale, the executive vice president now owns 1,546,227 shares of the company's stock, valued at approximately $285,278,881.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.73% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of Advanced Micro Devices by 813.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,647,457 shares of the semiconductor manufacturer's stock worth $685,089,000 after acquiring an additional 4,138,612 shares during the period. Capital World Investors grew its holdings in shares of Advanced Micro Devices by 176.9% during the 4th quarter. Capital World Investors now owns 4,668,542 shares of the semiconductor manufacturer's stock worth $688,190,000 after acquiring an additional 2,982,704 shares during the period. Van ECK Associates Corp grew its holdings in shares of Advanced Micro Devices by 52.6% during the 2nd quarter. Van ECK Associates Corp now owns 8,645,658 shares of the semiconductor manufacturer's stock worth $1,402,412,000 after acquiring an additional 2,979,204 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Advanced Micro Devices by 10.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,675,684 shares of the semiconductor manufacturer's stock worth $4,079,674,000 after acquiring an additional 2,553,392 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of Advanced Micro Devices by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 142,445,378 shares of the semiconductor manufacturer's stock worth $20,997,873,000 after acquiring an additional 2,390,558 shares during the period. Hedge funds and other institutional investors 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.