Advanced Micro Devices (NASDAQ:AMD) Stock Price Down 2.9% – Here’s What Happened

Advanced Micro Devices, Inc. (NASDAQ:AMD) was down 2.9% during trading on Thursday . The stock traded as low as $105.55 and last traded at $106.96. Approximately 15,142,907 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 43,113,304 shares. The stock had previously closed at $110.19.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AMD. Stifel Nicolaus decreased their price objective on shares of Advanced Micro Devices from $200.00 to $162.00 and set a “buy” rating for the company in a research note on Wednesday, February 5th. Melius cut shares of Advanced Micro Devices from a “buy” rating to a “hold” rating and decreased their price target for the stock from $160.00 to $129.00 in a research report on Tuesday, January 28th. Susquehanna cut their price objective on Advanced Micro Devices from $165.00 to $150.00 and set a “positive” rating on the stock in a research report on Wednesday, February 5th. Wolfe Research downgraded Advanced Micro Devices from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 16th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $250.00 target price on shares of Advanced Micro Devices in a report on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $152.72.

Advanced Micro Devices Stock Down 3.2 %

The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62. The firm has a market capitalization of $167.27 billion, a P/E ratio of 104.26, a P/E/G ratio of 1.11 and a beta of 1.74. The stock has a fifty day moving average price of $109.39 and a two-hundred day moving average price of $130.90.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 earnings per share for the quarter, meeting the consensus estimate of $1.07. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. Research analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Insider Buying and Selling

In related news, EVP Philip Guido bought 4,645 shares of the stock in a transaction dated Friday, February 7th. The stock was bought at an average cost of $107.56 per share, with a total value of $499,616.20. Following the completion of the acquisition, the executive vice president now owns 33,522 shares of the company’s stock, valued at $3,605,626.32. This trade represents a 16.09 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.73% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMD. Vanguard Group Inc. lifted its stake in Advanced Micro Devices by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer’s stock valued at $18,143,884,000 after buying an additional 1,441,626 shares during the last quarter. State Street Corp increased its holdings in shares of Advanced Micro Devices by 2.3% in the 3rd quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after acquiring an additional 1,580,035 shares during the period. Geode Capital Management LLC lifted its position in Advanced Micro Devices by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 35,079,256 shares of the semiconductor manufacturer’s stock valued at $4,224,840,000 after purchasing an additional 835,413 shares during the last quarter. Fisher Asset Management LLC boosted its stake in Advanced Micro Devices by 1.2% during the 4th quarter. Fisher Asset Management LLC now owns 24,086,020 shares of the semiconductor manufacturer’s stock valued at $2,909,350,000 after purchasing an additional 290,784 shares during the period. Finally, Norges Bank bought a new position in Advanced Micro Devices in the 4th quarter worth about $2,867,193,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

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.