Advanced Micro Devices (NASDAQ:AMD) Shares Down 3.2% – Should You Sell?

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price traded down 3.2% during trading on Monday . The stock traded as low as $250.30 and last traded at $251.31. 30,482,736 shares traded hands during mid-day trading, a decline of 23% from the average session volume of 39,678,477 shares. The stock had previously closed at $259.68.

Wall Street Analyst Weigh In

AMD has been the topic of several recent research reports. Morgan Stanley restated an “equal weight” rating and issued a $260.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, November 12th. Wells Fargo & Company raised their price objective on Advanced Micro Devices from $300.00 to $345.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 12th. HSBC boosted their target price on Advanced Micro Devices from $185.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Wedbush reaffirmed an “outperform” rating and set a $290.00 target price on shares of Advanced Micro Devices in a report on Wednesday, November 12th. Finally, TD Cowen reissued a “buy” rating on shares of Advanced Micro Devices in a research note on Tuesday, December 2nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $281.06.

Advanced Micro Devices Stock Down 3.2%

The stock has a market capitalization of $409.14 billion, a P/E ratio of 124.41, a PEG ratio of 1.08 and a beta of 1.95. The firm’s 50-day simple moving average is $218.66 and its 200 day simple moving average is $199.30. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.68 and a current ratio of 2.31.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, November 4th. The semiconductor manufacturer reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.03. Advanced Micro Devices had a return on equity of 8.04% and a net margin of 10.32%.The business had revenue of $9.25 billion for the quarter, compared to analyst estimates of $8.76 billion. During the same quarter in the prior year, the company posted $0.92 earnings per share. Advanced Micro Devices’s revenue was up 35.6% on a year-over-year basis. As a group, research analysts expect that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Insider Activity

In other news, EVP Mark D. Papermaster sold 17,108 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $240.12, for a total transaction of $4,107,972.96. Following the transaction, the executive vice president directly owned 1,714,505 shares in the company, valued at $411,686,940.60. The trade was a 0.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Ava Hahn sold 2,442 shares of the company’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $234.42, for a total transaction of $572,453.64. Following the completion of the sale, the senior vice president directly owned 16,359 shares in the company, valued at approximately $3,834,876.78. The trade was a 12.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 164,000 shares of company stock worth $36,034,173. Insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

Several institutional investors and hedge funds have recently made changes to their positions in AMD. Vanguard Group Inc. lifted its holdings in shares of Advanced Micro Devices by 0.9% during the third quarter. Vanguard Group Inc. now owns 155,997,751 shares of the semiconductor manufacturer’s stock worth $25,238,876,000 after buying an additional 1,348,892 shares in the last quarter. State Street Corp increased its position in Advanced Micro Devices by 2.4% during the third quarter. State Street Corp now owns 73,824,441 shares of the semiconductor manufacturer’s stock worth $11,944,056,000 after acquiring an additional 1,755,182 shares during the period. Geode Capital Management LLC raised its stake in Advanced Micro Devices by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 36,690,685 shares of the semiconductor manufacturer’s stock worth $5,181,556,000 after purchasing an additional 514,445 shares in the last quarter. Norges Bank bought a new stake in Advanced Micro Devices in the 2nd quarter valued at about $3,094,662,000. Finally, Amundi grew its position in shares of Advanced Micro Devices by 17.5% during the 3rd quarter. Amundi now owns 13,486,227 shares of the semiconductor manufacturer’s stock worth $2,181,937,000 after purchasing an additional 2,012,865 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 (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.