Advanced Micro Devices (AMD) Shares Down 11.1%

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) dropped 11.1% during trading on Friday . The company traded as low as $23.60 and last traded at $23.66. Approximately 130,558,781 shares traded hands during trading, an increase of 64% from the average daily volume of 79,572,188 shares. The stock had previously closed at $26.62.

AMD has been the subject of a number of recent research reports. Cowen reissued an “outperform” rating and set a $33.00 price objective (up from $30.00) on shares of Advanced Micro Devices in a report on Thursday. Stifel Nicolaus boosted their price objective on Advanced Micro Devices from $21.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, September 19th. Robert W. Baird lowered Advanced Micro Devices from an “outperform” rating to a “neutral” rating and boosted their price objective for the stock from $20.00 to $28.00 in a report on Monday, October 1st. They noted that the move was a valuation call. Rosenblatt Securities boosted their price objective on Advanced Micro Devices from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, September 11th. Finally, Goldman Sachs Group raised Advanced Micro Devices from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $13.25 to $21.00 in a report on Friday, August 10th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $23.48.

The firm has a market cap of $26.61 billion, a PE ratio of 311.25, a P/E/G ratio of 5.13 and a beta of 3.11. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.66 and a quick ratio of 1.26.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Wednesday, July 25th. The semiconductor manufacturer reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. Advanced Micro Devices had a return on equity of 52.84% and a net margin of 5.04%. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period in the prior year, the company earned $0.02 earnings per share. Advanced Micro Devices’s revenue was up 52.6% compared to the same quarter last year. On average, equities analysts predict that Advanced Micro Devices, Inc. will post 0.38 EPS for the current fiscal year.

In other Advanced Micro Devices news, CEO Lisa T. Su sold 200,000 shares of the stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $19.41, for a total transaction of $3,882,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lisa T. Su sold 65,472 shares of the stock in a transaction on Friday, August 10th. The shares were sold at an average price of $19.14, for a total value of $1,253,134.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,802,900 shares of company stock valued at $486,187,496. 1.80% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC lifted its position in shares of Advanced Micro Devices by 541.5% during the second quarter. Renaissance Technologies LLC now owns 7,427,326 shares of the semiconductor manufacturer’s stock worth $111,336,000 after acquiring an additional 6,269,500 shares in the last quarter. Millennium Management LLC lifted its position in shares of Advanced Micro Devices by 1,311.0% during the first quarter. Millennium Management LLC now owns 6,700,103 shares of the semiconductor manufacturer’s stock worth $67,336,000 after acquiring an additional 6,225,267 shares in the last quarter. Swedbank purchased a new stake in shares of Advanced Micro Devices during the third quarter worth $152,865,000. Eagle Asset Management Inc. lifted its position in shares of Advanced Micro Devices by 84.8% during the second quarter. Eagle Asset Management Inc. now owns 6,769,440 shares of the semiconductor manufacturer’s stock worth $101,473,000 after acquiring an additional 3,105,441 shares in the last quarter. Finally, Carillon Tower Advisers Inc. lifted its position in shares of Advanced Micro Devices by 107.7% during the second quarter. Carillon Tower Advisers Inc. now owns 5,432,501 shares of the semiconductor manufacturer’s stock worth $81,432,000 after acquiring an additional 2,816,360 shares in the last quarter. 66.16% of the stock is owned by institutional investors and hedge funds.

Advanced Micro Devices Company Profile (NASDAQ:AMD)

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. The company's products include x86 microprocessors as an accelerated processing unit (APU), chipsets, discrete and integrated graphics processing units (GPUs), and professional GPUs; and server and embedded processors, and semi-custom System-on-Chip (SoC) products and technology for game consoles.

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