Advanced Micro Devices (NASDAQ:AMD) Trading Down 2.4% - Here's Why

Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report)'s share price traded down 2.4% during mid-day trading on Tuesday . The company traded as low as $149.34 and last traded at $153.17. 23,495,973 shares traded hands during mid-day trading, a decline of 44% from the average session volume of 41,733,056 shares. The stock had previously closed at $157.00.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. DZ Bank upgraded shares of Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $118.00 price objective on the stock in a research report on Thursday, May 8th. UBS Group cut their price objective on shares of Advanced Micro Devices from $155.00 to $150.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Bank of America lifted their price objective on shares of Advanced Micro Devices from $130.00 to $175.00 in a research report on Wednesday, July 16th. Mizuho lifted their price objective on shares of Advanced Micro Devices from $152.00 to $175.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Finally, The Goldman Sachs Group raised shares of Advanced Micro Devices to a "hold" rating and set a $140.00 target price on the stock in a research note on Thursday, July 10th. Eleven investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and five have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $154.68.

Advanced Micro Devices Price Performance

The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.06. The company's fifty day simple moving average is $130.31 and its 200-day simple moving average is $114.02. The stock has a market cap of $258.54 billion, a P/E ratio of 117.49, a price-to-earnings-growth ratio of 2.05 and a beta of 2.05.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.03. The business had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.10 billion. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. The firm's quarterly revenue was up 35.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.62 EPS. As a group, sell-side analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices announced that its Board of Directors has authorized a share repurchase plan on Wednesday, May 14th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,998 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $155.03, for a total transaction of $2,790,229.94. Following the sale, the executive vice president directly owned 1,713,710 shares in the company, valued at approximately $265,676,461.30. This trade represents a 1.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.06% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Advanced Micro Devices

Hedge funds have recently made changes to their positions in the business. Dogwood Wealth Management LLC lifted its holdings in Advanced Micro Devices by 2,311.1% during the 2nd quarter. Dogwood Wealth Management LLC now owns 217 shares of the semiconductor manufacturer's stock valued at $30,000 after purchasing an additional 208 shares during the last quarter. West Branch Capital LLC raised its stake in Advanced Micro Devices by 3,057.1% in the second quarter. West Branch Capital LLC now owns 221 shares of the semiconductor manufacturer's stock valued at $31,000 after purchasing an additional 214 shares in the last quarter. Greenline Partners LLC acquired a new position in Advanced Micro Devices in the fourth quarter valued at about $28,000. Mpwm Advisory Solutions LLC bought a new position in Advanced Micro Devices in the fourth quarter valued at about $30,000. Finally, Summit Securities Group LLC bought a new position in Advanced Micro Devices in the fourth quarter valued at about $31,000. 71.34% of the stock is owned by institutional investors.

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.