Advanced Micro Devices (NASDAQ:AMD) Shares Down 2.9% - Here's Why

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report) were down 2.9% during trading on Monday . The company traded as low as $84.51 and last traded at $84.98. Approximately 9,718,591 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 42,887,170 shares. The stock had previously closed at $87.50.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Morgan Stanley set a $137.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, February 5th. TD Cowen decreased their price objective on Advanced Micro Devices from $135.00 to $110.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Truist Financial set a $130.00 target price on shares of Advanced Micro Devices in a report on Wednesday, February 5th. DZ Bank lowered shares of Advanced Micro Devices from a "buy" rating to a "hold" rating and set a $120.00 price target for the company. in a report on Friday, February 7th. Finally, Wolfe Research lowered shares of Advanced Micro Devices from an "outperform" rating to a "peer perform" rating in a report on Thursday, January 16th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $140.57.

Advanced Micro Devices Stock Performance

The firm's 50 day moving average is $98.72 and its 200-day moving average is $120.90. The stock has a market capitalization of $156.20 billion, a price-to-earnings ratio of 97.62, a PEG ratio of 1.11 and a beta of 1.89. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 earnings per share for the quarter, hitting analysts' consensus estimates of $1.07. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. Analysts forecast that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of Advanced Micro Devices stock in a transaction on 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 sale, the executive vice president now owns 1,713,710 shares of the company's stock, valued at $163,607,893.70. The trade was a 1.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Philip Guido bought 4,645 shares of Advanced Micro Devices stock in a transaction dated Friday, February 7th. The stock was acquired at an average price of $107.56 per share, with a total value of $499,616.20. Following the completion of the transaction, the executive vice president now directly owns 33,522 shares of the company's stock, valued at approximately $3,605,626.32. The trade was a 16.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.06% of the company's stock.

Hedge Funds Weigh In On Advanced Micro Devices

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bear Mountain Capital Inc. purchased a new stake in shares of Advanced Micro Devices in the 4th quarter valued at approximately $25,000. Global Wealth Strategies & Associates purchased a new stake in Advanced Micro Devices in the fourth quarter valued at $26,000. Greenline Partners LLC purchased a new stake in Advanced Micro Devices in the fourth quarter valued at $28,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in shares of Advanced Micro Devices by 277.8% in 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. Finally, Halbert Hargrove Global Advisors LLC purchased a new position in shares of Advanced Micro Devices during the 4th quarter worth $29,000. Institutional investors and hedge funds own 71.34% of the company's stock.

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.