Advanced Micro Devices (NASDAQ:AMD) Trading Down 0.7%

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price dropped 0.7% on Wednesday . The stock traded as low as $148.93 and last traded at $149.82. Approximately 6,603,154 shares changed hands during trading, a decline of 89% from the average daily volume of 60,036,867 shares. The stock had previously closed at $150.82.

Analyst Ratings Changes

A number of research analysts recently commented on AMD shares. KeyCorp cut their target price on Advanced Micro Devices from $230.00 to $220.00 and set an “overweight” rating for the company in a research note on Tuesday, July 9th. Citigroup raised their price objective on shares of Advanced Micro Devices from $176.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Bank of America lowered their target price on shares of Advanced Micro Devices from $195.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. TD Cowen raised shares of Advanced Micro Devices to a “strong-buy” rating in a research report on Monday. Finally, StockNews.com downgraded Advanced Micro Devices from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and a consensus price target of $193.45.

Advanced Micro Devices Stock Performance

The firm has a market cap of $242.67 billion, a price-to-earnings ratio of 220.32, a price-to-earnings-growth ratio of 2.04 and a beta of 1.69. The stock has a 50-day moving average of $148.50 and a 200-day moving average of $161.13. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.01 and a current ratio of 2.82.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. The business had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.72 billion. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 5.98%. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.40 earnings per share. As a group, analysts anticipate that Advanced Micro Devices, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity

In other news, EVP Mark D. Papermaster sold 16,756 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $184.50, for a total transaction of $3,091,482.00. Following the sale, the executive vice president now owns 1,546,227 shares in the company, valued at approximately $285,278,881.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.73% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Advanced Micro Devices

Hedge funds and other institutional investors have recently bought and sold shares of the business. Tradewinds Capital Management LLC raised its stake in Advanced Micro Devices by 102.9% in the 1st quarter. Tradewinds Capital Management LLC now owns 140 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 71 shares during the period. Semmax Financial Advisors Inc. lifted its stake in shares of Advanced Micro Devices by 926.7% during the 1st quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer’s stock worth $28,000 after buying an additional 139 shares during the last quarter. Fairway Wealth LLC bought a new stake in shares of Advanced Micro Devices during the 2nd quarter worth about $27,000. Valued Wealth Advisors LLC grew its stake in Advanced Micro Devices by 70.7% in the 1st quarter. Valued Wealth Advisors LLC now owns 169 shares of the semiconductor manufacturer’s stock valued at $31,000 after buying an additional 70 shares during the last quarter. Finally, Morton Brown Family Wealth LLC raised its holdings in Advanced Micro Devices by 94.4% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock valued at $27,000 after acquiring an additional 85 shares during the period. 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.