Advanced Micro Devices (NASDAQ:AMD) Stock Price Down 6% – Time to Sell?

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares dropped 6% during trading on Thursday . The company traded as low as $96.43 and last traded at $96.79. Approximately 13,655,650 shares changed hands during trading, a decline of 68% from the average daily volume of 43,136,889 shares. The stock had previously closed at $102.96.

Analyst Upgrades and Downgrades

AMD has been the topic of several research analyst reports. Melius Research reiterated a “hold” rating and set a $129.00 price target (down previously from $160.00) on shares of Advanced Micro Devices in a research note on Tuesday, January 28th. HSBC reiterated a “reduce” rating and issued a $110.00 target price (down previously from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, January 8th. Jefferies Financial Group lowered shares of Advanced Micro Devices from a “buy” rating to a “hold” rating and reduced their price target for the stock from $135.00 to $120.00 in a research report on Thursday, March 27th. Citigroup restated a “buy” rating on shares of Advanced Micro Devices in a research note on Wednesday, February 19th. Finally, Piper Sandler reissued an “overweight” rating on shares of Advanced Micro Devices in a report on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $152.72.

Advanced Micro Devices Stock Down 8.9 %

The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $151.61 billion, a PE ratio of 94.75, a price-to-earnings-growth ratio of 1.11 and a beta of 1.88. The business has a 50-day moving average price of $108.21 and a 200-day moving average price of $129.81.

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

Insider Buying and Selling

In other Advanced Micro Devices news, EVP Philip Guido purchased 4,645 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were acquired at an average price of $107.56 per share, with a total value of $499,616.20. Following the purchase, the executive vice president now directly owns 33,522 shares in the company, valued at approximately $3,605,626.32. This trade represents a 16.09 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.65% of the stock is owned by company insiders.

Institutional Trading of Advanced Micro Devices

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new stake in Advanced Micro Devices in the fourth quarter valued at approximately $2,867,193,000. Toronto Dominion Bank lifted its stake in Advanced Micro Devices by 443.3% during the 4th quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer’s stock worth $660,475,000 after acquiring an additional 4,461,609 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its holdings in Advanced Micro Devices by 2,265.5% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 3,017,294 shares of the semiconductor manufacturer’s stock valued at $364,459,000 after acquiring an additional 2,889,739 shares during the period. Northern Trust Corp grew its position in Advanced Micro Devices by 20.1% in the 4th quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer’s stock valued at $2,072,215,000 after acquiring an additional 2,874,012 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake 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 worth $1,432,538,000 after purchasing an additional 2,238,866 shares during the period. 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.