Advanced Micro Devices (NASDAQ:AMD) Stock Price Down 2%

Advanced Micro Devices, Inc. (NASDAQ:AMD) fell 2% during trading on Tuesday . The stock traded as low as $159.55 and last traded at $160.75. 8,058,260 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 58,689,996 shares. The stock had previously closed at $164.08.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Edward Jones started coverage on shares of Advanced Micro Devices in a research note on Tuesday, August 20th. They set a “buy” rating for the company. Robert W. Baird lowered their price target on shares of 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. Truist Financial reduced their price objective on shares of 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. Susquehanna reaffirmed a “positive” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, July 31st. Finally, KeyCorp reduced 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $193.45.

Advanced Micro Devices Stock Performance

The stock has a 50 day moving average of $147.05 and a 200 day moving average of $158.18. 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 firm has a market cap of $258.61 billion, a price-to-earnings ratio of 234.97, a P/E/G ratio of 2.14 and a beta of 1.69.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 EPS for the quarter, beating the consensus estimate of $0.68 by $0.01. The company had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.72 billion. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 5.98%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.40 EPS. As a group, analysts anticipate that Advanced Micro Devices, Inc. will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Mark D. Papermaster sold 16,756 shares of Advanced Micro Devices stock in a transaction on 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 transaction, the executive vice president now owns 1,546,227 shares in the company, valued at approximately $285,278,881.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

Hedge funds have recently made changes to their positions in the stock. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in Advanced Micro Devices by 813.3% in 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 valued at $685,089,000 after purchasing an additional 4,138,612 shares during the last quarter. Capital World Investors increased its holdings in Advanced Micro Devices by 176.9% in the 4th quarter. Capital World Investors now owns 4,668,542 shares of the semiconductor manufacturer’s stock worth $688,190,000 after purchasing an additional 2,982,704 shares in the last quarter. Van ECK Associates Corp increased its holdings in Advanced Micro Devices by 52.6% in 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 purchasing an additional 2,979,204 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Advanced Micro Devices by 10.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,675,684 shares of the semiconductor manufacturer’s stock valued at $4,079,674,000 after purchasing an additional 2,553,392 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Advanced Micro Devices by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 142,445,378 shares of the semiconductor manufacturer’s stock worth $20,997,873,000 after purchasing an additional 2,390,558 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

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.