Advanced Micro Devices (NASDAQ:AMD) Stock Price Down 9.3% on Disappointing Earnings

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) fell 9.3% during mid-day trading on Wednesday following a weaker than expected earnings announcement. The company traded as low as $106.50 and last traded at $108.35. 49,904,440 shares changed hands during trading, an increase of 24% from the average session volume of 40,374,180 shares. The stock had previously closed at $119.50.

The semiconductor manufacturer reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.19). Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%.

Analysts Set New Price Targets

A number of analysts have commented on AMD shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $180.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. UBS Group reduced their price objective on 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. Morgan Stanley reduced their price objective on Advanced Micro Devices from $158.00 to $147.00 and set an “equal weight” rating for the company in a research report on Tuesday. Susquehanna dropped their target price on Advanced Micro Devices from $165.00 to $150.00 and set a “positive” rating for the company in a report on Wednesday. Finally, Evercore ISI increased their target price on Advanced Micro Devices from $193.00 to $198.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $161.30.

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

Several institutional investors and hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC boosted its holdings in shares of Advanced Micro Devices by 17,137.3% in the 3rd quarter. International Assets Investment Management LLC now owns 7,860,909 shares of the semiconductor manufacturer’s stock valued at $1,289,818,000 after purchasing an additional 7,815,305 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Advanced Micro Devices by 42.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock valued at $1,381,679,000 after purchasing an additional 2,497,056 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Advanced Micro Devices by 23.3% in the 4th quarter. Van ECK Associates Corp now owns 11,859,744 shares of the semiconductor manufacturer’s stock valued at $1,432,538,000 after purchasing an additional 2,238,866 shares in the last quarter. State Street Corp boosted its holdings in shares of Advanced Micro Devices by 2.3% in the 3rd quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock valued at $11,513,538,000 after purchasing an additional 1,580,035 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Advanced Micro Devices by 8.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,472,211 shares of the semiconductor manufacturer’s stock valued at $3,195,000,000 after purchasing an additional 1,565,083 shares in the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

Advanced Micro Devices Stock Performance

The stock has a fifty day simple moving average of $125.02 and a two-hundred day simple moving average of $140.59. The stock has a market cap of $181.77 billion, a price-to-earnings ratio of 100.91, a P/E/G ratio of 1.03 and a beta of 1.66. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50.

Advanced Micro Devices Company Profile

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.