Advanced Micro Devices (NASDAQ:AMD) Shares Down 1.3%

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price was down 1.3% on Wednesday . The stock traded as low as $140.71 and last traded at $141.04. Approximately 15,059,575 shares changed hands during trading, a decline of 75% from the average daily volume of 60,861,621 shares. The stock had previously closed at $142.84.

Analyst Ratings Changes

AMD has been the topic of several analyst reports. Citigroup lifted their price target on Advanced Micro Devices from $176.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, July 15th. StockNews.com cut shares of Advanced Micro Devices from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. Morgan Stanley lifted their price target on shares of Advanced Micro Devices from $176.00 to $178.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. TD Cowen reiterated a “buy” rating and issued a $210.00 price objective on shares of Advanced Micro Devices in a report on Monday, August 19th. Finally, KeyCorp cut their target price on Advanced Micro Devices from $230.00 to $220.00 and set an “overweight” rating for the company in a research note on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and an average target price of $193.45.

Advanced Micro Devices Price Performance

The stock has a fifty day simple moving average of $150.49 and a 200-day simple moving average of $162.32. The company has a market capitalization of $233.94 billion, a PE ratio of 207.41, a P/E/G ratio of 1.83 and a beta of 1.69. The company has a current ratio of 2.82, a quick ratio of 2.01 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.01. The business had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.72 billion. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 5.98%. The company’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.40 EPS. Equities analysts anticipate that Advanced Micro Devices, Inc. will post 2.56 earnings per share for the current year.

Insider Activity

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,200 shares of Advanced Micro Devices stock in a transaction on Friday, June 14th. The shares were sold at an average price of $158.94, for a total value of $2,574,828.00. Following the transaction, the executive vice president now directly owns 1,546,227 shares in the company, valued at $245,757,319.38. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Mark D. Papermaster sold 16,756 shares of Advanced Micro Devices stock in a transaction on Monday, July 15th. The shares were sold at an average price of $184.50, for a total value of $3,091,482.00. Following the transaction, the executive vice president now directly owns 1,546,227 shares in the company, valued at approximately $285,278,881.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mark D. Papermaster sold 16,200 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $158.94, for a total transaction of $2,574,828.00. Following the transaction, the executive vice president now owns 1,546,227 shares of the company’s stock, valued at approximately $245,757,319.38. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AMD. Newbridge Financial Services Group Inc. boosted its holdings in Advanced Micro Devices by 21.7% during the second quarter. Newbridge Financial Services Group Inc. now owns 30,176 shares of the semiconductor manufacturer’s stock worth $4,895,000 after buying an additional 5,377 shares in the last quarter. Heritage Wealth Management Inc. acquired a new stake in shares of Advanced Micro Devices during the 2nd quarter valued at approximately $1,457,000. Lazari Capital Management Inc. boosted its stake in shares of Advanced Micro Devices by 0.6% during the 2nd quarter. Lazari Capital Management Inc. now owns 16,411 shares of the semiconductor manufacturer’s stock worth $2,662,000 after acquiring an additional 104 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Advanced Micro Devices in the 2nd quarter worth approximately $33,971,000. Finally, Coronation Fund Managers Ltd. increased its stake in Advanced Micro Devices by 33.9% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 34,780 shares of the semiconductor manufacturer’s stock valued at $5,642,000 after purchasing an additional 8,798 shares in the last quarter. Institutional investors and hedge funds 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.