Bank of America Issues Pessimistic Forecast for Advanced Micro Devices (NASDAQ:AMD) Stock Price

Advanced Micro Devices (NASDAQ:AMD) had its price target lowered by investment analysts at Bank of America from $155.00 to $135.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the semiconductor manufacturer’s stock. Bank of America‘s price objective suggests a potential upside of 22.55% from the company’s previous close.

A number of other brokerages have also recently weighed in on AMD. Piper Sandler reiterated an “overweight” rating and set a $180.00 price target (down from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. StockNews.com cut Advanced Micro Devices from a “hold” rating to a “sell” rating in a research report on Tuesday, January 14th. Evercore ISI increased their price target on Advanced Micro Devices from $193.00 to $198.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Benchmark restated a “buy” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research report on Thursday, October 31st. Finally, Citigroup lowered their target price on Advanced Micro Devices from $200.00 to $175.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $161.30.

Advanced Micro Devices Trading Down 1.7 %

Shares of AMD opened at $110.16 on Wednesday. The company has a market capitalization of $178.77 billion, a P/E ratio of 99.24, a P/E/G ratio of 1.03 and a beta of 1.65. Advanced Micro Devices has a one year low of $106.50 and a one year 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 stock has a 50-day moving average price of $124.53 and a 200 day moving average price of $140.39.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, February 4th. The semiconductor manufacturer reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.19). Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. Sell-side analysts forecast that Advanced Micro Devices will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling at Advanced Micro Devices

In other news, CEO Lisa T. Su sold 76,496 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at approximately $508,834,266.92. This trade represents a 2.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

A number of institutional investors have recently added to or reduced their stakes in AMD. Creative Capital Management Investments LLC boosted its holdings in Advanced Micro Devices by 124.6% during the third quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 86 shares in the last quarter. Bear Mountain Capital Inc. acquired a new stake in Advanced Micro Devices during the fourth quarter valued at approximately $25,000. Global Wealth Strategies & Associates acquired a new stake in Advanced Micro Devices during the fourth quarter valued at approximately $26,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Advanced Micro Devices during the fourth quarter valued at approximately $29,000. Finally, FSA Wealth Management LLC acquired a new stake in Advanced Micro Devices during the third quarter valued at approximately $41,000. 71.34% of the stock is 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.