Advanced Micro Devices (NASDAQ:AMD) Stock Price Down 2% After Insider Selling

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares traded down 2% during mid-day trading on Monday following insider selling activity. The stock traded as low as $137.40 and last traded at $138.59. 33,576,839 shares were traded during mid-day trading, an increase of 18% from the average session volume of 28,523,388 shares. The stock had previously closed at $141.36.

Specifically, CEO Lisa T. Su sold 76,496 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total value of $10,912,919.36. Following the sale, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at $508,834,266.92. This represents a 2.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AMD. Evercore ISI lifted their price objective on shares of Advanced Micro Devices from $193.00 to $198.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $180.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. UBS Group cut their target price on shares of Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Barclays lowered their price target on Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Finally, TD Cowen reduced their price objective on Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Advanced Micro Devices presently has an average rating of “Moderate Buy” and a consensus price target of $192.36.

Advanced Micro Devices Price Performance

The company has a 50 day moving average of $150.14 and a 200 day moving average of $153.22. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. The firm has a market cap of $224.91 billion, a price-to-earnings ratio of 124.86, a P/E/G ratio of 1.91 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.92. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The business had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.71 billion. During the same period in the prior year, the business earned $0.53 EPS. Advanced Micro Devices’s revenue for the quarter was up 17.6% compared to the same quarter last year. Equities research analysts predict that Advanced Micro Devices, Inc. will post 2.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its position in Advanced Micro Devices by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 9,656,965 shares of the semiconductor manufacturer’s stock worth $1,584,515,000 after acquiring an additional 177,700 shares in the last quarter. Swiss National Bank raised its holdings in shares of Advanced Micro Devices by 0.3% in the 3rd quarter. Swiss National Bank now owns 4,797,575 shares of the semiconductor manufacturer’s stock valued at $787,186,000 after purchasing an additional 12,500 shares during the period. Shum Financial Group Inc. acquired a new stake in Advanced Micro Devices in the 3rd quarter valued at about $858,000. State Street Corp grew its holdings in Advanced Micro Devices by 2.3% during the third quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after purchasing an additional 1,580,035 shares during the period. Finally, Harvest Portfolios Group Inc. increased its position in Advanced Micro Devices by 4.4% during the third quarter. Harvest Portfolios Group Inc. now owns 146,445 shares of the semiconductor manufacturer’s stock worth $24,029,000 after buying an additional 6,168 shares during the last quarter. Institutional investors and hedge funds 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.