Advanced Micro Devices (NASDAQ:AMD) Price Target Cut to $175.00 by Analysts at Citigroup

Advanced Micro Devices (NASDAQ:AMD) had its price objective cut by Citigroup from $200.00 to $175.00 in a report published on Tuesday,Benzinga reports. They currently have a buy rating on the semiconductor manufacturer’s stock.

A number of other brokerages have also recently issued reports on AMD. Mizuho decreased their target price on Advanced Micro Devices from $180.00 to $160.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Barclays decreased their price objective on Advanced Micro Devices from $170.00 to $140.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Hsbc Global Res cut shares of Advanced Micro Devices from a “strong-buy” rating to a “moderate sell” rating in a research note on Wednesday, January 8th. Bank of America lowered shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and decreased their target price for the company from $180.00 to $155.00 in a research report on Monday, December 9th. Finally, KeyCorp dropped their price target on shares of Advanced Micro Devices from $220.00 to $150.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $177.71.

Advanced Micro Devices Stock Up 0.7 %

NASDAQ:AMD opened at $122.28 on Tuesday. The business’s fifty day moving average price is $129.42 and its 200 day moving average price is $144.76. The firm has a market capitalization of $198.44 billion, a price-to-earnings ratio of 110.16, a PEG ratio of 1.07 and a beta of 1.66. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. Advanced Micro Devices has a 1-year low of $114.41 and a 1-year high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.92. The business had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. Advanced Micro Devices’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.53 EPS. On average, sell-side analysts forecast that Advanced Micro Devices will post 2.54 earnings per share for the current fiscal year.

Insider Activity at Advanced Micro Devices

In related news, CEO Lisa T. Su sold 80,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was 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 owns 3,566,762 shares in the company, valued at $513,150,048.94. This represents a 2.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $141.67, for a total value of $5,743,301.80. Following the transaction, the executive vice president now owns 293,347 shares in the company, valued at $41,558,469.49. The trade was a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 197,036 shares of company stock worth $28,165,821 in the last quarter. 0.65% of the stock is owned by insiders.

Institutional Investors Weigh In On Advanced Micro Devices

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMD. Creative Capital Management Investments LLC boosted its stake in Advanced Micro Devices by 124.6% in the third quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 86 shares during the last quarter. ZRC Wealth Management LLC boosted its position in Advanced Micro Devices by 90.4% during 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 during the period. Global Wealth Strategies & Associates bought a new stake in Advanced Micro Devices during the 4th quarter valued at $26,000. Retirement Wealth Solutions LLC bought a new stake in shares of Advanced Micro Devices during the 4th quarter valued at $32,000. Finally, Abich Financial Wealth Management LLC boosted its stake in Advanced Micro Devices by 101.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 220 shares of the semiconductor manufacturer’s stock worth $36,000 after purchasing an additional 111 shares during the period. Hedge funds and other institutional investors own 71.34% of the company’s stock.

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.