Advanced Micro Devices (NASDAQ:AMD) Trading Down 7.9% – Here’s Why

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price fell 7.9% during trading on Friday . The stock traded as low as $83.67 and last traded at $86.35. 23,685,391 shares were traded during trading, a decline of 45% from the average session volume of 43,179,895 shares. The stock had previously closed at $93.80.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. HSBC restated a “reduce” rating and issued a $110.00 price target (down from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, January 8th. Morgan Stanley set a $137.00 target price on Advanced Micro Devices in a research note on Wednesday, February 5th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price target on shares of Advanced Micro Devices in a research note on Tuesday, February 4th. Roth Capital set a $140.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, February 5th. Finally, TD Cowen dropped their price objective on shares of Advanced Micro Devices from $185.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and a consensus price target of $152.72.

Advanced Micro Devices Stock Down 8.6 %

The firm has a market cap of $138.61 billion, a price-to-earnings ratio of 86.63, a P/E/G ratio of 1.11 and a beta of 1.88. The firm has a fifty day simple moving average of $106.88 and a 200-day simple moving average of $128.94. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 EPS for the quarter, meeting analysts’ consensus estimates of $1.07. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. As a group, sell-side analysts expect that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Insider Buying and Selling

In other Advanced Micro Devices news, EVP Philip Guido acquired 4,645 shares of the business’s stock in a transaction on Friday, February 7th. The stock was purchased at an average price of $107.56 per share, with a total value of $499,616.20. Following the acquisition, the executive vice president now directly owns 33,522 shares of the company’s stock, valued at approximately $3,605,626.32. This trade represents a 16.09 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.65% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Advanced Micro Devices

A number of hedge funds have recently added to or reduced their stakes in the stock. Northeast Financial Consultants Inc increased its position in shares of Advanced Micro Devices by 2.9% in the third quarter. Northeast Financial Consultants Inc now owns 2,920 shares of the semiconductor manufacturer’s stock worth $479,000 after purchasing an additional 81 shares during the period. Abel Hall LLC raised its position in shares of Advanced Micro Devices by 4.6% in the 3rd quarter. Abel Hall LLC now owns 1,855 shares of the semiconductor manufacturer’s stock valued at $304,000 after buying an additional 82 shares in the last quarter. Segment Wealth Management LLC raised its position in shares of Advanced Micro Devices by 0.5% in the 4th quarter. Segment Wealth Management LLC now owns 16,038 shares of the semiconductor manufacturer’s stock valued at $1,937,000 after buying an additional 87 shares in the last quarter. Breakwater Capital Group lifted its holdings in shares of Advanced Micro Devices by 5.2% during the 4th quarter. Breakwater Capital Group now owns 1,767 shares of the semiconductor manufacturer’s stock worth $213,000 after acquiring an additional 88 shares during the period. Finally, Koshinski Asset Management Inc. boosted its position in shares of Advanced Micro Devices by 1.9% during the 4th quarter. Koshinski Asset Management Inc. now owns 4,762 shares of the semiconductor manufacturer’s stock worth $575,000 after acquiring an additional 91 shares in the last quarter. Institutional investors 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.