Barclays Cuts Advanced Micro Devices (NASDAQ:AMD) Price Target to $170.00

Advanced Micro Devices (NASDAQ:AMD) had its target price cut by Barclays from $180.00 to $170.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have an overweight rating on the semiconductor manufacturer’s stock.

A number of other brokerages have also issued reports on AMD. TD Cowen dropped their price objective on shares of Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday. Wedbush reaffirmed an “outperform” rating and set a $200.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Citigroup increased their target price 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. Susquehanna reaffirmed a “positive” rating and set a $200.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Finally, Rosenblatt Securities reissued a “buy” rating and set a $250.00 price target on shares of Advanced Micro Devices in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and an average target price of $192.79.

Advanced Micro Devices Stock Performance

NASDAQ:AMD opened at $141.86 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.01 and a current ratio of 2.50. The company has a fifty day moving average of $154.75 and a two-hundred day moving average of $155.81. The stock has a market capitalization of $229.60 billion, a PE ratio of 127.80, a P/E/G ratio of 2.03 and a beta of 1.70. Advanced Micro Devices has a fifty-two week low of $105.91 and a fifty-two week high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last released 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 net margin of 7.52% and a return on equity of 6.62%. The business had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same quarter in the prior year, the firm earned $0.53 earnings per share. The company’s revenue for the quarter was up 17.6% compared to the same quarter last year. As a group, research analysts forecast that Advanced Micro Devices will post 2.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Advanced Micro Devices

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Sustainable Insight Capital Management LLC grew its position in Advanced Micro Devices by 121.1% in the 3rd quarter. Sustainable Insight Capital Management LLC now owns 2,739 shares of the semiconductor manufacturer’s stock valued at $449,000 after buying an additional 1,500 shares during the last quarter. GSG Advisors LLC acquired a new stake in Advanced Micro Devices in the third quarter valued at $516,000. Sheets Smith Wealth Management acquired a new stake in Advanced Micro Devices in the third quarter valued at $331,000. Field & Main Bank lifted its holdings in Advanced Micro Devices by 1.4% in the third quarter. Field & Main Bank now owns 19,777 shares of the semiconductor manufacturer’s stock valued at $3,245,000 after acquiring an additional 275 shares during the period. Finally, Objective Capital Management LLC acquired a new stake in Advanced Micro Devices in the third quarter valued at $502,000. 71.34% of the stock is currently 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.