Advanced Micro Devices (NASDAQ:AMD) Stock Price Down 0.8% – Here’s Why

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s stock price dropped 0.8% during mid-day trading on Monday . The company traded as low as $154.66 and last traded at $154.68. Approximately 7,395,745 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 57,207,457 shares. The stock had previously closed at $155.97.

Analyst Ratings Changes

A number of equities research analysts have commented on AMD shares. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, July 31st. Edward Jones began coverage on Advanced Micro Devices in a report on Tuesday, August 20th. They issued a “buy” rating on the stock. Piper Sandler raised their price objective on shares of Advanced Micro Devices from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Roth Mkm restated a “buy” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a report on Friday, October 11th. Finally, Citigroup lifted their price target on shares of Advanced Micro Devices from $176.00 to $210.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and an average price target of $195.00.

Advanced Micro Devices Stock Down 0.8 %

The firm has a market cap of $247.15 billion, a price-to-earnings ratio of 224.24, a PEG ratio of 2.33 and a beta of 1.70. The company has a quick ratio of 2.01, a current ratio of 2.82 and a debt-to-equity ratio of 0.03. The firm has a fifty day moving average price of $154.54 and a 200-day moving average price of $156.45.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 5.98%. The company had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter in the prior year, the company posted $0.40 EPS. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Advanced Micro Devices, Inc. will post 2.56 EPS for the current year.

Institutional Investors Weigh In On Advanced Micro Devices

Institutional investors have recently added to or reduced their stakes in the company. Cherrydale Wealth Management LLC lifted its holdings in shares of Advanced Micro Devices by 4.7% during the 2nd quarter. Cherrydale Wealth Management LLC now owns 1,305 shares of the semiconductor manufacturer’s stock valued at $212,000 after acquiring an additional 58 shares in the last quarter. Christopher J. Hasenberg Inc boosted its position in shares of Advanced Micro Devices by 12.0% in the third quarter. Christopher J. Hasenberg Inc now owns 560 shares of the semiconductor manufacturer’s stock worth $97,000 after buying an additional 60 shares during the period. Revolve Wealth Partners LLC grew its stake in shares of Advanced Micro Devices by 0.9% in the first quarter. Revolve Wealth Partners LLC now owns 7,281 shares of the semiconductor manufacturer’s stock valued at $1,314,000 after buying an additional 63 shares in the last quarter. Delta Financial Group Inc. lifted its position in Advanced Micro Devices by 5.0% during the 2nd quarter. Delta Financial Group Inc. now owns 1,325 shares of the semiconductor manufacturer’s stock worth $215,000 after acquiring an additional 63 shares in the last quarter. Finally, Trivant Custom Portfolio Group LLC grew its position in Advanced Micro Devices by 0.3% in the second quarter. Trivant Custom Portfolio Group LLC now owns 24,629 shares of the semiconductor manufacturer’s stock valued at $3,995,000 after acquiring an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

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.