Advanced Micro Devices (NASDAQ:AMD) Shares Down 0.9%

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares fell 0.9% during mid-day trading on Tuesday . The stock traded as low as $163.10 and last traded at $164.79. 12,778,455 shares changed hands during trading, a decline of 81% from the average session volume of 68,085,578 shares. The stock had previously closed at $166.33.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on AMD shares. Cantor Fitzgerald decreased their target price on Advanced Micro Devices from $190.00 to $170.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Truist Financial dropped their price objective on shares of Advanced Micro Devices from $174.00 to $162.00 and set a “hold” rating for the company in a research note on Wednesday, May 1st. Bank of America lifted their price target on shares of Advanced Micro Devices from $165.00 to $195.00 and gave the company a “buy” rating in a research report on Monday, January 29th. Barclays upped their price objective on shares of Advanced Micro Devices from $200.00 to $235.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. Finally, Mizuho cut their price target on shares of Advanced Micro Devices from $235.00 to $215.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $185.26.

Advanced Micro Devices Price Performance

The business’s 50 day moving average is $166.63 and its two-hundred day moving average is $156.87. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.92 and a current ratio of 2.64. The firm has a market capitalization of $266.14 billion, a PE ratio of 242.34, a price-to-earnings-growth ratio of 2.54 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.01. Advanced Micro Devices had a net margin of 4.89% and a return on equity of 5.72%. The company had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.48 billion. During the same period in the prior year, the business earned $0.43 earnings per share. Advanced Micro Devices’s revenue for the quarter was up 2.2% compared to the same quarter last year. Equities research analysts anticipate that Advanced Micro Devices, Inc. will post 2.62 earnings per share for the current fiscal year.

Insider Activity

In other Advanced Micro Devices news, CAO Darla M. Smith sold 1,678 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $188.66, for a total transaction of $316,571.48. Following the completion of the sale, the chief accounting officer now owns 4,209 shares of the company’s stock, valued at approximately $794,069.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Mark D. Papermaster sold 16,200 shares of Advanced Micro Devices stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $186.73, for a total transaction of $3,025,026.00. Following the sale, the executive vice president now directly owns 1,554,602 shares in the company, valued at $290,290,831.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Darla M. Smith sold 1,678 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $188.66, for a total value of $316,571.48. Following the completion of the sale, the chief accounting officer now directly owns 4,209 shares in the company, valued at $794,069.94. The disclosure for this sale can be found here. In the last 90 days, insiders sold 165,650 shares of company stock valued at $31,761,199. Corporate insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Atria Investments Inc lifted its position in Advanced Micro Devices by 16.2% during the first quarter. Atria Investments Inc now owns 51,904 shares of the semiconductor manufacturer’s stock valued at $9,368,000 after purchasing an additional 7,236 shares during the last quarter. Swedbank AB purchased a new position in Advanced Micro Devices in the first quarter worth about $290,842,000. Sanibel Captiva Trust Company Inc. increased its stake in Advanced Micro Devices by 0.3% during the first quarter. Sanibel Captiva Trust Company Inc. now owns 129,555 shares of the semiconductor manufacturer’s stock worth $23,383,000 after acquiring an additional 424 shares during the last quarter. LRI Investments LLC bought a new stake in shares of Advanced Micro Devices in the 1st quarter valued at approximately $49,000. Finally, Independent Wealth Network Inc. boosted its holdings in shares of Advanced Micro Devices by 34.6% in the 1st quarter. Independent Wealth Network Inc. now owns 2,184 shares of the semiconductor manufacturer’s stock worth $394,000 after purchasing an additional 562 shares during the period. Institutional investors 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.