Advanced Micro Devices (NASDAQ:AMD) Stock Price Down 1.5% – What’s Next?

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price dropped 1.5% during trading on Wednesday . The stock traded as low as $169.73 and last traded at $170.15. Approximately 12,408,558 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 57,951,645 shares. The stock had previously closed at $172.80.

Analyst Upgrades and Downgrades

AMD has been the subject of a number of research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $180.00 price target on shares of Advanced Micro Devices in a report on Monday. StockNews.com cut shares of Advanced Micro Devices from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. Rosenblatt Securities restated a “buy” rating and set a $250.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Wells Fargo & Company lifted their price objective on shares of Advanced Micro Devices from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Finally, Barclays cut their target price on Advanced Micro Devices from $235.00 to $180.00 and set an “overweight” rating on the stock in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $193.45.

Advanced Micro Devices Trading Down 1.2 %

The firm has a market cap of $275.84 billion, a PE ratio of 250.22, a P/E/G ratio of 2.14 and a beta of 1.70. The company’s fifty day moving average price is $149.47 and its two-hundred day moving average price is $157.65. The company has a quick ratio of 2.01, a current ratio of 2.82 and a debt-to-equity ratio of 0.03.

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

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,756 shares of Advanced Micro Devices stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $184.50, for a total value of $3,091,482.00. Following the completion of the sale, the executive vice president now owns 1,546,227 shares in the company, valued at $285,278,881.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.73% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Advanced Micro Devices

Several hedge funds and other institutional investors have recently made changes to their positions in AMD. Tobam grew its position in Advanced Micro Devices by 10.7% in the third quarter. Tobam now owns 6,632 shares of the semiconductor manufacturer’s stock valued at $1,088,000 after acquiring an additional 641 shares in the last quarter. Strategic Advisors LLC grew its holdings in Advanced Micro Devices by 13.9% during the 3rd quarter. Strategic Advisors LLC now owns 12,034 shares of the semiconductor manufacturer’s stock valued at $1,975,000 after purchasing an additional 1,470 shares in the last quarter. Sendero Wealth Management LLC lifted its holdings in Advanced Micro Devices by 2.8% in the 3rd quarter. Sendero Wealth Management LLC now owns 21,276 shares of the semiconductor manufacturer’s stock worth $3,491,000 after buying an additional 572 shares in the last quarter. Quotient Wealth Partners LLC boosted its position in Advanced Micro Devices by 3.5% in the 3rd quarter. Quotient Wealth Partners LLC now owns 7,141 shares of the semiconductor manufacturer’s stock valued at $1,172,000 after buying an additional 239 shares during the last quarter. Finally, Modus Advisors LLC acquired a new stake in shares of Advanced Micro Devices during the third quarter worth approximately $507,000. 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.