Advanced Micro Devices (NASDAQ:AMD) Stock Price Down 0.2% - Here's Why

Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report) shares were down 0.2% on Wednesday . The stock traded as low as $154.92 and last traded at $156.33. Approximately 12,347,997 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 57,651,129 shares. The stock had previously closed at $156.64.

Analysts Set New Price Targets

A number of research firms have recently commented on AMD. KeyCorp cut their target price on Advanced Micro Devices from $230.00 to $220.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 9th. Roth Mkm reaffirmed a "buy" rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a research report on Friday, October 11th. Bank of America reiterated a "buy" rating and set a $180.00 target price on shares of Advanced Micro Devices in a research report on Thursday, October 3rd. Truist Financial cut their price target on shares of Advanced Micro Devices from $162.00 to $156.00 and set a "hold" rating on the stock in a report on Wednesday, July 31st. Finally, Susquehanna reiterated a "positive" rating and set a $200.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $195.00.

Advanced Micro Devices Stock Down 0.3 %

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 capitalization of $252.36 billion, a price-to-earnings ratio of 229.60, a P/E/G ratio of 2.33 and a beta of 1.70. The business's 50-day moving average is $152.48 and its 200-day moving average is $157.15.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same period in the previous year, the company posted $0.40 earnings per share. Advanced Micro Devices's revenue for the quarter was up 8.9% on a year-over-year basis. As a group, equities analysts predict that Advanced Micro Devices, Inc. will post 2.56 earnings per share for the current year.

Institutional Investors Weigh In On Advanced Micro Devices

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Advanced Micro Devices by 59.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 309,561 shares of the semiconductor manufacturer's stock valued at $50,214,000 after purchasing an additional 116,020 shares during the last quarter. Chapin Davis Inc. lifted its stake in Advanced Micro Devices by 613.4% in the 1st quarter. Chapin Davis Inc. now owns 12,263 shares of the semiconductor manufacturer's stock worth $2,213,000 after purchasing an additional 10,544 shares in the last quarter. Wesbanco Bank Inc. lifted its stake in Advanced Micro Devices by 15.7% in the 3rd quarter. Wesbanco Bank Inc. now owns 155,558 shares of the semiconductor manufacturer's stock worth $25,524,000 after purchasing an additional 21,132 shares in the last quarter. St. Louis Financial Planners Asset Management LLC acquired a new position in shares of Advanced Micro Devices during the 3rd quarter worth approximately $2,394,000. Finally, Sycomore Asset Management grew its holdings in Advanced Micro Devices by 28.6% in the 2nd quarter. Sycomore Asset Management now owns 137,883 shares of the semiconductor manufacturer's stock valued at $21,722,000 after buying an additional 30,677 shares in the last quarter. 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.