Advanced Micro Devices (NASDAQ:AMD) Shares Down 0.7% - Here's What Happened

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report) were down 0.7% during mid-day trading on Tuesday . The stock traded as low as $126.87 and last traded at $128.63. Approximately 17,207,079 shares were traded during mid-day trading, a decline of 48% from the average daily volume of 33,135,172 shares. The stock had previously closed at $129.55.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AMD shares. TD Cowen dropped their price target on Advanced Micro Devices from $210.00 to $185.00 and set a "buy" rating on the stock in a research report on Wednesday, October 30th. Benchmark reaffirmed a "buy" rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a report on Thursday, October 31st. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $180.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Citigroup lowered their price objective on Advanced Micro Devices from $210.00 to $200.00 and set a "buy" rating on the stock in a report on Wednesday, October 30th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $250.00 price objective on shares of Advanced Micro Devices in a report on Monday, October 28th. Five equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $191.96.

Advanced Micro Devices Stock Performance

The company has a market capitalization of $206.63 billion, a P/E ratio of 114.71, a P/E/G ratio of 1.88 and a beta of 1.66. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78. The stock's 50 day simple moving average is $134.85 and its two-hundred day simple moving average is $147.64.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, hitting analysts' consensus estimates of $0.92. The business had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. Advanced Micro Devices's revenue for the quarter was up 17.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.53 earnings per share. As a group, research analysts expect that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Forrest Eugene Norrod sold 40,540 shares of the business's stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total value of $5,743,301.80. Following the transaction, the executive vice president now owns 293,347 shares in the company, valued at approximately $41,558,469.49. The trade was a 12.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lisa T. Su sold 80,000 shares of the business's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the transaction, the chief executive officer now owns 3,566,762 shares in the company, valued at $513,150,048.94. The trade was a 2.19 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 197,036 shares of company stock valued at $28,165,821. 0.73% of the stock is currently owned by corporate insiders.

Institutional Trading of Advanced Micro Devices

Hedge funds and other institutional investors have recently bought and sold shares of the business. Creative Capital Management Investments LLC lifted its holdings in shares of Advanced Micro Devices by 124.6% in the third quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer's stock worth $25,000 after buying an additional 86 shares in the last quarter. ZRC Wealth Management LLC grew its position in Advanced Micro Devices by 90.4% during the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer's stock valued at $26,000 after acquiring an additional 75 shares during the last quarter. Global Wealth Strategies & Associates bought a new position in Advanced Micro Devices during the fourth quarter valued at approximately $26,000. Fairway Wealth LLC bought a new position in Advanced Micro Devices during the second quarter valued at approximately $27,000. Finally, Abich Financial Wealth Management LLC grew its position in Advanced Micro Devices by 101.8% during the second quarter. Abich Financial Wealth Management LLC now owns 220 shares of the semiconductor manufacturer's stock valued at $36,000 after acquiring an additional 111 shares during 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.