Advanced Micro Devices (NASDAQ:AMD) Trading Down 0.7% - Here's Why

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report) dropped 0.7% on Monday . The company traded as low as $166.12 and last traded at $166.77. Approximately 8,792,258 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 57,818,660 shares. The stock had previously closed at $167.89.

Analyst Ratings Changes

AMD has been the subject of a number of research analyst reports. KeyCorp dropped their price target on Advanced Micro Devices from $230.00 to $220.00 and set an "overweight" rating for the company in a research report on Tuesday, July 9th. Rosenblatt Securities restated a "buy" rating and issued a $250.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, July 31st. BNP Paribas upgraded Advanced Micro Devices to a "strong-buy" rating in a research report on Wednesday, July 31st. Roth Mkm reiterated a "buy" rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research report on Friday. Finally, Edward Jones assumed coverage on Advanced Micro Devices in a research report on Tuesday, August 20th. They set a "buy" rating for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-seven have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $195.00.

Advanced Micro Devices Stock Down 1.6 %

The firm has a market capitalization of $267.13 billion, a price-to-earnings ratio of 243.04, a price-to-earnings-growth ratio of 2.33 and a beta of 1.70. The company has a current ratio of 2.82, a quick ratio of 2.01 and a debt-to-equity ratio of 0.03. The firm has a 50 day moving average price of $151.34 and a two-hundred day moving average price of $157.42.

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

Institutional Investors Weigh In On Advanced Micro Devices

Hedge funds and other institutional investors have recently bought and sold shares of the business. Tradewinds Capital Management LLC increased its holdings in Advanced Micro Devices by 102.9% during the 1st quarter. Tradewinds Capital Management LLC now owns 140 shares of the semiconductor manufacturer's stock worth $25,000 after purchasing an additional 71 shares during the last quarter. Semmax Financial Advisors Inc. increased its holdings in shares of Advanced Micro Devices by 926.7% in the 1st quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer's stock valued at $28,000 after acquiring an additional 139 shares during the last quarter. ZRC Wealth Management LLC increased its holdings in shares of Advanced Micro Devices by 90.4% in the 3rd quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer's stock valued at $26,000 after acquiring an additional 75 shares during the last quarter. Fairway Wealth LLC bought a new stake in shares of Advanced Micro Devices in the 2nd quarter valued at approximately $27,000. Finally, Valued Wealth Advisors LLC increased its holdings in shares of Advanced Micro Devices by 70.7% in the 1st quarter. Valued Wealth Advisors LLC now owns 169 shares of the semiconductor manufacturer's stock valued at $31,000 after acquiring an additional 70 shares during the last quarter. 71.34% of the stock is currently owned by hedge funds and other 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.