Wells Fargo & Company Issues Pessimistic Forecast for Advanced Micro Devices (NASDAQ:AMD) Stock Price

Advanced Micro Devices (NASDAQ:AMD) had its target price cut by stock analysts at Wells Fargo & Company from $205.00 to $165.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the semiconductor manufacturer’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 42.13% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Mizuho dropped their price target on shares of Advanced Micro Devices from $180.00 to $160.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 target price on shares of Advanced Micro Devices in a research report on Monday, October 28th. Morgan Stanley reduced their price target on Advanced Micro Devices from $169.00 to $158.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Benchmark restated a “buy” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a report on Thursday, October 31st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $180.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Advanced Micro Devices has an average rating of “Moderate Buy” and a consensus target price of $179.68.

Advanced Micro Devices Trading Down 1.0 %

Advanced Micro Devices stock opened at $116.09 on Monday. Advanced Micro Devices has a 52 week low of $114.41 and a 52 week high of $227.30. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50. The firm has a market capitalization of $188.39 billion, a price-to-earnings ratio of 104.59, a P/E/G ratio of 1.88 and a beta of 1.66. The company has a 50 day moving average price of $131.60 and a 200 day moving average price of $145.95.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly 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. The business had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The firm’s revenue was up 17.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.53 earnings per share. Research analysts forecast that Advanced Micro Devices will post 2.54 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Lisa T. Su sold 76,496 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $142.66, for a total value of $10,912,919.36. Following the completion of the transaction, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at approximately $508,834,266.92. This represents a 2.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total value 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 197,036 shares of company stock worth $28,165,821. 0.73% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Creative Capital Management Investments LLC grew its position in Advanced Micro Devices by 124.6% during the 3rd quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 86 shares during the last quarter. ZRC Wealth Management LLC boosted its stake in Advanced Micro Devices by 90.4% in the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 75 shares in the last quarter. Global Wealth Strategies & Associates bought a new stake in shares of Advanced Micro Devices during the fourth quarter worth $26,000. Fairway Wealth LLC bought a new stake in shares of Advanced Micro Devices during the second quarter worth $27,000. Finally, Abich Financial Wealth Management LLC increased its stake in shares of Advanced Micro Devices by 101.8% in the second quarter. Abich Financial Wealth Management LLC now owns 220 shares of the semiconductor manufacturer’s stock valued at $36,000 after buying an additional 111 shares in the last quarter. 71.34% of the stock is owned by institutional investors.

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.