Advanced Micro Devices (NASDAQ:AMD) Stock Price Down 2% – Here’s What Happened

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price fell 2% during trading on Friday . The company traded as low as $106.79 and last traded at $107.96. 19,743,227 shares changed hands during trading, a decline of 54% from the average session volume of 42,472,926 shares. The stock had previously closed at $110.16.

Wall Street Analyst Weigh In

Several research firms have recently commented on AMD. Barclays reduced their price target on shares of Advanced Micro Devices from $170.00 to $140.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Summit Insights raised shares of Advanced Micro Devices to a “hold” rating in a research report on Tuesday. Bank of America dropped their price target on shares of Advanced Micro Devices from $155.00 to $135.00 and set a “neutral” rating for the company in a research report on Wednesday. Melius downgraded shares of Advanced Micro Devices from a “buy” rating to a “hold” rating and dropped their target price for the company from $160.00 to $129.00 in a report on Tuesday, January 28th. Finally, Piper Sandler lowered their price objective on shares of Advanced Micro Devices from $180.00 to $140.00 and set an “overweight” rating for the company in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Advanced Micro Devices has an average rating of “Moderate Buy” and a consensus price target of $158.70.

Advanced Micro Devices Price Performance

The business has a 50 day simple moving average of $124.01 and a 200-day simple moving average of $140.18. The company has a market capitalization of $174.50 billion, a P/E ratio of 96.87, a PEG ratio of 1.03 and a beta of 1.66. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $0.88 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.19). Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. Analysts predict that Advanced Micro Devices, Inc. will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Lisa T. Su sold 76,496 shares of Advanced Micro Devices stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $142.66, for a total value of $10,912,919.36. Following the transaction, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at approximately $508,834,266.92. This trade represents a 2.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.65% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Advanced Micro Devices

A number of institutional investors have recently bought and sold shares of the business. Creative Capital Management Investments LLC boosted its position in Advanced Micro Devices by 124.6% during the third quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 86 shares during the last quarter. Bear Mountain Capital Inc. acquired a new stake in shares of Advanced Micro Devices during the 4th quarter valued at about $25,000. Global Wealth Strategies & Associates bought a new stake in shares of Advanced Micro Devices in the 4th quarter valued at approximately $26,000. Halbert Hargrove Global Advisors LLC acquired a new position in Advanced Micro Devices in the fourth quarter worth approximately $29,000. Finally, FSA Wealth Management LLC bought a new position in Advanced Micro Devices during the third quarter valued at approximately $41,000. 71.34% of the stock is currently owned by institutional investors and hedge funds.

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.