Advanced Micro Devices (NASDAQ:AMD) Stock Price Down 4.3% – Time to Sell?

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price was down 4.3% during mid-day trading on Thursday . The stock traded as low as $506.00 and last traded at $517.82. Approximately 27,840,596 shares were traded during trading, a decline of 26% from the average session volume of 37,559,352 shares. The stock had previously closed at $540.88.

More Advanced Micro Devices News

Here are the key news stories impacting Advanced Micro Devices this week:

• Positive Sentiment: Wells Fargo raised its price target on AMD to $615, reinforcing Wall Street’s bullish view on the company’s AI CPU and data center growth. This Analyst Just Raised the Price Target on AMD Stock. Here’s Why.
• Positive Sentiment: AMD introduced Versal Premium Gen 2 adaptive SoCs for AI, networking, defense, and aerospace markets, expanding its product mix beyond CPUs and GPUs. AMD (AMD) Unveils Versal Premium Gen 2 For AI And Aerospace Markets
• Positive Sentiment: Analysts and commentators continued to highlight AMD as a long-term AI winner, with some calling the recent pullback a buying opportunity. Should Investors Buy AMD Stock after the Selloff? Here’s What Wall Street Thinks
• Neutral Sentiment: AMD’s strong second-quarter rally and record market value have increased visibility, but also make the stock more vulnerable to volatility if investors rotate out of high-multiple AI winners. Record chip rally adds $2 trillion in combined value to Micron, Intel and AMD in second quarter
• Negative Sentiment: AMD declined alongside other chip stocks as investors locked in gains after the sector’s recent surge, signaling profit-taking across AI semiconductors. MU, SNDK, NVDA, and AMD Stocks Turn Red after Early Gains Fade
• Negative Sentiment: A rumor that GPU prices may rise again added to concerns about demand and pricing dynamics, contributing to the stock’s weakness. AMD Stock Slips on a GPU Price Increase Rumor
• Negative Sentiment: Articles warning that AMD’s valuation already reflects a lot of future growth suggest the stock may be due for continued near-term volatility. 1 Major Warning Flag AMD and Intel Investors Can’t Afford to Ignore

Analysts Set New Price Targets

AMD has been the subject of a number of research reports. JPMorgan Chase & Co. raised their target price on Advanced Micro Devices from $270.00 to $385.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Cantor Fitzgerald raised their price objective on Advanced Micro Devices from $500.00 to $700.00 and gave the stock an “overweight” rating in a research note on Monday. Erste Group Bank raised Advanced Micro Devices from a “hold” rating to a “buy” rating in a research note on Thursday, April 2nd. Morgan Stanley raised their price target on Advanced Micro Devices from $360.00 to $410.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Finally, Zacks Research cut Advanced Micro Devices from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 3rd. Two analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $448.78.

Advanced Micro Devices Trading Down 4.3%

The company has a quick ratio of 1.96, a current ratio of 2.72 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $844.36 billion, a P/E ratio of 169.78, a price-to-earnings-growth ratio of 1.71 and a beta of 2.50. The business has a fifty day moving average price of $461.80 and a 200 day moving average price of $303.66.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.08. The business had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $9.90 billion. Advanced Micro Devices had a return on equity of 9.55% and a net margin of 13.37%.Advanced Micro Devices’s quarterly revenue was up 37.8% on a year-over-year basis. During the same period last year, the company earned $0.96 earnings per share. On average, analysts expect that Advanced Micro Devices, Inc. will post 6.15 earnings per share for the current fiscal year.

Insider Activity at Advanced Micro Devices

In related news, CEO Lisa T. Su sold 125,000 shares of the stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $460.69, for a total transaction of $57,586,250.00. Following the completion of the transaction, the chief executive officer owned 2,896,899 shares in the company, valued at approximately $1,334,572,400.31. This represents a 4.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Forrest Eugene Norrod sold 19,487 shares of Advanced Micro Devices stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $431.40, for a total transaction of $8,406,691.80. Following the completion of the sale, the executive vice president owned 324,527 shares in the company, valued at $140,000,947.80. The trade was a 5.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 378,032 shares of company stock worth $161,876,596. 0.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Advanced Micro Devices

Several hedge funds have recently modified their holdings of the stock. Silverleafe Capital Partners LLC bought a new stake in shares of Advanced Micro Devices during the 2nd quarter worth approximately $461,000. Box Hill Private Wealth LLC bought a new position in shares of Advanced Micro Devices in the second quarter valued at $450,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of Advanced Micro Devices by 99.1% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 18,713 shares of the semiconductor manufacturer’s stock valued at $10,871,000 after buying an additional 9,316 shares in the last quarter. Diesslin Group Inc. acquired a new position in Advanced Micro Devices during the second quarter worth $297,000. Finally, Collective Family Office LLC acquired a new position in Advanced Micro Devices during the second quarter worth $335,000. Institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Company Profile

Advanced Micro Devices, Inc (NASDAQ: AMD) is a global semiconductor company that designs and sells microprocessors, graphics processors, chipsets and adaptive computing solutions for a broad set of markets. The company’s product portfolio includes consumer and commercial CPUs under the Ryzen and Threadripper brands, data center processors under the EPYC brand, and Radeon graphics processing units for gaming and professional visualization. AMD also offers semi-custom system-on-chip (SoC) products for gaming consoles and other specialized applications, and provides supporting software and platform technologies for OEMs, cloud service providers and end users.

Founded in 1969, AMD has evolved from a supplier of logic chips into a diversified, fabless semiconductor designer.