Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD – Get Free Report) fell 1.1% on Thursday . The company traded as low as $132.96 and last traded at $136.24. 30,097,938 shares were traded during mid-day trading, a decline of 45% from the average session volume of 54,698,379 shares. The stock had previously closed at $137.72.
Analysts Set New Price Targets
AMD has been the subject of several research analyst reports. Morgan Stanley reduced their price objective on Advanced Micro Devices from $178.00 to $169.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 30th. Bank of America restated a “buy” rating and set a $180.00 price objective on shares of Advanced Micro Devices in a research note on Thursday, October 3rd. UBS Group cut their price objective 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. Piper Sandler reissued an “overweight” rating and set a $180.00 target price (down previously from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Finally, Citigroup lowered their price target on shares of Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $192.79.
Read Our Latest Stock Report on AMD
Advanced Micro Devices Price Performance
Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last announced its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.92. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The company had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter in the previous year, the company posted $0.53 EPS. The firm’s quarterly revenue was up 17.6% on a year-over-year basis. On average, analysts forecast that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current year.
Insider Buying and Selling
In related news, CEO Lisa T. Su sold 80,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the sale, the chief executive officer now directly owns 3,566,762 shares in the company, valued at approximately $513,150,048.94. This represents a 2.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the completion of the sale, the executive vice president now directly owns 293,347 shares in the company, valued at approximately $41,558,469.49. This represents a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is owned by company insiders.
Institutional Investors Weigh In On Advanced Micro Devices
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. LRI Investments LLC purchased a new stake in shares of Advanced Micro Devices in the first quarter valued at approximately $49,000. EverSource Wealth Advisors LLC raised its position in shares of Advanced Micro Devices by 22.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 8,666 shares of the semiconductor manufacturer’s stock worth $1,564,000 after purchasing an additional 1,607 shares during the last quarter. American Trust acquired a new stake in Advanced Micro Devices during the 1st quarter valued at $222,000. HM Payson & Co. lifted its position in shares of Advanced Micro Devices by 8.3% in the first quarter. HM Payson & Co. now owns 3,894 shares of the semiconductor manufacturer’s stock valued at $703,000 after acquiring an additional 300 shares in the last quarter. Finally, Old Port Advisors acquired a new stake in shares of Advanced Micro Devices during the first quarter valued at $215,000. 71.34% of the stock is currently owned by institutional investors and hedge funds.
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.
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