Advanced Micro Devices (NASDAQ:AMD) Shares Down 2.1% - What's Next?

Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report)'s share price fell 2.1% during mid-day trading on Thursday . The stock traded as low as $114.40 and last traded at $115.22. 15,589,264 shares traded hands during trading, a decline of 64% from the average session volume of 42,812,821 shares. The stock had previously closed at $117.72.

Analysts Set New Price Targets

Several brokerages have issued reports on AMD. UBS Group cut their price target on Advanced Micro Devices from $155.00 to $150.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Truist Financial set a $130.00 price target on Advanced Micro Devices in a report on Wednesday, February 5th. Roth Capital set a $140.00 target price on Advanced Micro Devices in a report on Wednesday, February 5th. Loop Capital dropped their target price on Advanced Micro Devices from $175.00 to $140.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Finally, Benchmark reissued a "buy" rating and set a $170.00 target price on shares of Advanced Micro Devices in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $131.45.

Advanced Micro Devices Stock Performance

The stock has a 50 day moving average of $98.16 and a 200 day moving average of $115.79. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $188.02 billion, a price-to-earnings ratio of 117.14, a price-to-earnings-growth ratio of 1.11 and a beta of 1.97.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.03. The company had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.10 billion. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. The firm's quarterly revenue was up 35.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.62 earnings per share. As a group, analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices declared that its Board of Directors has initiated a stock buyback plan on Wednesday, May 14th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,500 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total transaction of $1,670,725.00. Following the completion of the sale, the executive vice president now owns 1,713,710 shares in the company, valued at $163,607,893.70. The trade was a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.06% of the company's stock.

Institutional Investors Weigh In On Advanced Micro Devices

Hedge funds and other institutional investors have recently modified their holdings of the company. KLP Kapitalforvaltning AS bought a new stake in shares of Advanced Micro Devices during the fourth quarter valued at approximately $65,897,000. Enzi Wealth bought a new stake in Advanced Micro Devices during the fourth quarter worth $569,000. Welch Group LLC grew its holdings in Advanced Micro Devices by 6.3% during the fourth quarter. Welch Group LLC now owns 50,466 shares of the semiconductor manufacturer's stock worth $6,179,000 after buying an additional 2,981 shares in the last quarter. Stonegate Investment Group LLC grew its holdings in Advanced Micro Devices by 39.5% during the fourth quarter. Stonegate Investment Group LLC now owns 512,428 shares of the semiconductor manufacturer's stock worth $61,896,000 after buying an additional 145,067 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Advanced Micro Devices by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer's stock worth $18,143,884,000 after buying an additional 1,441,626 shares in the last quarter. Institutional investors own 71.34% of the company's stock.

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.

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