Advanced Micro Devices (NASDAQ:AMD) Trading Down 2% Following Insider Selling

Advanced Micro Devices, Inc. (NASDAQ:AMD) fell 2% during mid-day trading on Monday after an insider sold shares in the company. The stock traded as low as $137.40 and last traded at $138.59. 33,576,839 shares changed hands during trading, an increase of 18% from the average session volume of 28,523,388 shares. The stock had previously closed at $141.36.

Specifically, CEO Lisa T. Su sold 76,496 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $142.66, for a total transaction 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 $508,834,266.92. The trade was a 2.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AMD. Barclays lowered their price objective on shares of Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. UBS Group reduced their price objective on shares of Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Edward Jones assumed coverage on shares of Advanced Micro Devices in a report on Tuesday, August 20th. They issued a “buy” rating for the company. Piper Sandler reaffirmed an “overweight” rating and set a $180.00 target price (down from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price target on shares of Advanced Micro Devices in a research report on Monday, October 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $192.36.

Advanced Micro Devices Stock Down 5.6 %

The company has a market capitalization of $212.38 billion, a P/E ratio of 117.90, a PEG ratio of 1.91 and a beta of 1.66. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. The stock has a 50 day moving average price of $149.48 and a 200 day moving average price of $153.01.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, meeting analysts’ consensus estimates of $0.92. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The firm had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same period last year, the firm posted $0.53 earnings per share. The business’s revenue for the quarter was up 17.6% on a year-over-year basis. On average, research analysts anticipate that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Advanced Micro Devices

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Creative Capital Management Investments LLC lifted its stake in shares of Advanced Micro Devices by 124.6% in the third quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 86 shares during the period. ZRC Wealth Management LLC lifted its position in shares of Advanced Micro Devices by 90.4% in the 3rd quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 75 shares during the period. Morton Brown Family Wealth LLC boosted its stake in shares of 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 purchasing an additional 85 shares during the last quarter. Fairway Wealth LLC acquired a new stake in shares of Advanced Micro Devices during the second quarter worth $27,000. Finally, Ridgewood Investments LLC bought a new position in Advanced Micro Devices during the second quarter worth $35,000. 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.