Advanced Micro Devices (NASDAQ:AMD) Shares Down 2.7% - Here's Why

Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report) traded down 2.7% during mid-day trading on Monday . The stock traded as low as $133.80 and last traded at $134.14. 14,849,467 shares were traded during trading, a decline of 65% from the average session volume of 41,955,364 shares. The stock had previously closed at $137.91.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on AMD shares. 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 report on Wednesday, May 7th. Robert W. Baird cut their price objective on shares of Advanced Micro Devices from $175.00 to $140.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Piper Sandler upped their price objective on shares of Advanced Micro Devices from $125.00 to $140.00 and gave the stock an "overweight" rating in a report on Monday, June 16th. Wells Fargo & Company cut their price objective on shares of Advanced Micro Devices from $140.00 to $120.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Finally, Dbs Bank cut shares of Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $139.55.

Advanced Micro Devices Price Performance

The company has a market cap of $218.56 billion, a P/E ratio of 99.12, a P/E/G ratio of 1.78 and a beta of 2.05. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.97 and a current ratio of 2.80. The firm's fifty day moving average is $117.84 and its two-hundred day moving average is $111.46.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.03. The company had revenue of $7.44 billion during 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%. Advanced Micro Devices's quarterly revenue was up 35.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.62 EPS. As a group, analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices declared that its Board of Directors has authorized a stock repurchase program on Wednesday, May 14th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its stock is undervalued.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total transaction of $1,670,725.00. Following the completion of the transaction, the executive vice president owned 1,713,710 shares of the company's stock, valued at $163,607,893.70. This represents a 1.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.06% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Greenline Partners LLC bought a new position in shares of Advanced Micro Devices during the 4th quarter valued at about $28,000. Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings in shares of Advanced Micro Devices by 277.8% during the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 272 shares of the semiconductor manufacturer's stock valued at $28,000 after purchasing an additional 200 shares during the last quarter. American Capital Advisory LLC boosted its holdings in shares of Advanced Micro Devices by 90.3% during the 1st quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer's stock valued at $28,000 after purchasing an additional 130 shares during the last quarter. Kozak & Associates Inc. boosted its holdings in shares of Advanced Micro Devices by 67.6% during the 1st quarter. Kozak & Associates Inc. now owns 305 shares of the semiconductor manufacturer's stock valued at $29,000 after purchasing an additional 123 shares during the last quarter. Finally, Mpwm Advisory Solutions LLC bought a new position in shares of Advanced Micro Devices during the 4th quarter valued at about $30,000. 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.