Advanced Micro Devices (NASDAQ:AMD) Shares Down 2.9%

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) were down 2.9% during trading on Thursday . The company traded as low as $160.52 and last traded at $160.75. Approximately 36,682,851 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 67,677,656 shares. The stock had previously closed at $165.52.

Analyst Ratings Changes

A number of equities analysts have recently commented on AMD shares. DZ Bank upgraded shares of Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $190.00 price objective for the company in a research report on Tuesday, May 7th. Evercore ISI dropped their target price on shares of Advanced Micro Devices from $200.00 to $193.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Barclays lifted their target price on shares of Advanced Micro Devices from $200.00 to $235.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. Citigroup dropped their target price on shares of Advanced Micro Devices from $192.00 to $176.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Finally, Wells Fargo & Company lifted their target price on shares of Advanced Micro Devices from $165.00 to $190.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-eight have given a buy rating to the company. Based on data from MarketBeat, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and a consensus target price of $185.26.

Advanced Micro Devices Stock Down 3.8 %

The company has a current ratio of 2.64, a quick ratio of 1.92 and a debt-to-equity ratio of 0.03. The firm has a market cap of $257.28 billion, a P/E ratio of 236.40, a PEG ratio of 1.89 and a beta of 1.66. The company’s 50 day simple moving average is $165.28 and its 200-day simple moving average is $157.30.

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

Insider Transactions at Advanced Micro Devices

In other news, CAO Darla M. Smith sold 1,678 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $188.66, for a total value of $316,571.48. Following the transaction, the chief accounting officer now owns 4,209 shares in the company, valued at approximately $794,069.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Advanced Micro Devices news, CAO Darla M. Smith sold 1,678 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 4,209 shares in the company, valued at approximately $794,069.94. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Joseph A. Householder sold 6,572 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $208.08, for a total transaction of $1,367,501.76. Following the sale, the director now owns 2,197 shares in the company, valued at approximately $457,151.76. The disclosure for this sale can be found here. Insiders have sold 165,650 shares of company stock worth $31,761,199 in the last quarter. Company insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

Institutional investors have recently added to or reduced their stakes in the stock. Tradewinds Capital Management LLC grew its holdings in shares of Advanced Micro Devices by 102.9% in the first quarter. Tradewinds Capital Management LLC now owns 140 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 71 shares in the last quarter. Spartan Planning & Wealth Management purchased a new position in shares of Advanced Micro Devices in the third quarter valued at $27,000. Northwest Bank & Trust Co purchased a new position in shares of Advanced Micro Devices in the fourth quarter valued at $28,000. Semmax Financial Advisors Inc. grew its holdings in shares of Advanced Micro Devices by 926.7% in the first quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer’s stock valued at $28,000 after purchasing an additional 139 shares in the last quarter. Finally, Bare Financial Services Inc purchased a new position in shares of Advanced Micro Devices in the fourth quarter valued at $29,000. 71.34% of the stock is owned by hedge funds and other institutional investors.

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.