Advanced Micro Devices (NASDAQ:AMD) Sets New 1-Year Low on Disappointing Earnings

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price hit a new 52-week low during trading on Wednesday following a dissappointing earnings announcement. The company traded as low as $106.50 and last traded at $107.88, with a volume of 19584697 shares. The stock had previously closed at $119.50.

The semiconductor manufacturer reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.19). Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%.

Wall Street Analysts Forecast Growth

AMD has been the subject of a number of research analyst reports. KeyCorp reduced their price objective on Advanced Micro Devices from $150.00 to $140.00 and set an “overweight” rating for the company in a report on Wednesday. Melius Research reiterated a “hold” rating and issued a $129.00 price target (down from $160.00) on shares of Advanced Micro Devices in a research note on Tuesday, January 28th. Wedbush reiterated an “outperform” rating and issued a $150.00 price target on shares of Advanced Micro Devices in a research note on Wednesday. Piper Sandler cut their price target on Advanced Micro Devices from $180.00 to $140.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price target on shares of Advanced Micro Devices in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $161.30.

Insider Transactions at Advanced Micro Devices

In related news, CEO Lisa T. Su sold 76,496 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total value of $10,912,919.36. Following the sale, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at $508,834,266.92. The trade was a 2.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.73% of the company’s stock.

Institutional Trading of Advanced Micro Devices

Several institutional investors have recently modified their holdings of the business. State Street Corp grew its stake in shares of Advanced Micro Devices by 2.3% in the third quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after purchasing an additional 1,580,035 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Advanced Micro Devices by 1.3% in the third quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock worth $5,597,337,000 after purchasing an additional 441,924 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Advanced Micro Devices by 1.2% in the fourth quarter. Fisher Asset Management LLC now owns 24,086,020 shares of the semiconductor manufacturer’s stock worth $2,909,350,000 after purchasing an additional 290,784 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Advanced Micro Devices by 8.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,472,211 shares of the semiconductor manufacturer’s stock worth $3,195,000,000 after purchasing an additional 1,565,083 shares during the last quarter. Finally, Van ECK Associates Corp boosted its position in 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 valued at $1,432,538,000 after acquiring an additional 2,238,866 shares during the last quarter. Institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Stock Down 1.7 %

The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. The firm has a market cap of $178.77 billion, a P/E ratio of 99.24, a PEG ratio of 1.03 and a beta of 1.65. The stock’s 50-day simple moving average is $124.53 and its 200 day simple moving average is $140.39.

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.