Advanced Micro Devices (NASDAQ:AMD) Stock Price Down 1.1% – What’s Next?

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price was down 1.1% on Tuesday . The stock traded as low as $112.54 and last traded at $113.45. Approximately 9,986,135 shares were traded during trading, a decline of 77% from the average daily volume of 42,542,826 shares. The stock had previously closed at $114.74.

Wall Street Analyst Weigh In

AMD has been the topic of a number of analyst reports. Robert W. Baird lowered their target price on shares of Advanced Micro Devices from $175.00 to $140.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 7th. UBS Group decreased their price target on Advanced Micro Devices from $155.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. DZ Bank upgraded Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $118.00 target price for the company in a research report on Thursday, May 8th. Truist Financial set a $130.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, February 5th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $120.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Advanced Micro Devices presently has an average rating of “Moderate Buy” and a consensus target price of $132.58.

Advanced Micro Devices Price Performance

The stock’s 50 day simple moving average is $99.21 and its 200-day simple moving average is $114.52. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.62 and a quick ratio of 1.83. The company has a market capitalization of $183.68 billion, a PE ratio of 113.89, a price-to-earnings-growth ratio of 1.11 and a beta of 1.97.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data 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. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. The company had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.10 billion. During the same quarter last year, the company posted $0.62 earnings per share. The business’s quarterly revenue was up 35.9% compared to the same quarter last year. As a group, equities analysts forecast that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices announced that its Board of Directors has approved a stock repurchase program on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,500 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 1,713,710 shares of the company’s stock, valued at approximately $163,607,893.70. This represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

A number of institutional investors have recently bought and sold shares of AMD. Integrity Alliance LLC. raised its holdings in Advanced Micro Devices by 331.1% in the first quarter. Integrity Alliance LLC. now owns 21,111 shares of the semiconductor manufacturer’s stock valued at $2,169,000 after buying an additional 16,214 shares during the period. Ransom Advisory Ltd purchased a new position in shares of Advanced Micro Devices in the first quarter valued at $287,000. Anchor Investment Management LLC grew its holdings in Advanced Micro Devices by 20.0% during the 1st quarter. Anchor Investment Management LLC now owns 9,460 shares of the semiconductor manufacturer’s stock valued at $972,000 after purchasing an additional 1,574 shares in the last quarter. Glenview Trust co increased its stake in Advanced Micro Devices by 3.6% during the 1st quarter. Glenview Trust co now owns 29,213 shares of the semiconductor manufacturer’s stock worth $3,001,000 after buying an additional 1,023 shares during the period. Finally, Plato Investment Management Ltd lifted its holdings in Advanced Micro Devices by 1,793.5% in the 1st quarter. Plato Investment Management Ltd now owns 27,172 shares of the semiconductor manufacturer’s stock worth $2,822,000 after buying an additional 25,737 shares in the last quarter. 71.34% of the stock is currently owned by hedge funds and other 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.