Advanced Micro Devices (NASDAQ:AMD) Price Target Cut to $165.00 by Analysts at Wells Fargo & Company

Advanced Micro Devices (NASDAQ:AMD) had its price objective lowered by Wells Fargo & Company from $205.00 to $165.00 in a research note released on Monday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the semiconductor manufacturer’s stock.

A number of other brokerages also recently weighed in on AMD. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 price target on shares of Advanced Micro Devices in a report on Monday, October 28th. The Goldman Sachs Group downgraded Advanced Micro Devices from a “buy” rating to a “neutral” rating and dropped their target price for the company from $175.00 to $129.00 in a report on Friday. Piper Sandler restated an “overweight” rating and set a $180.00 price target (down from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, October 30th. HSBC reiterated a “reduce” rating and issued a $110.00 price objective (down previously from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, January 8th. Finally, Morgan Stanley lowered their price target on shares of Advanced Micro Devices from $169.00 to $158.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $182.44.

Advanced Micro Devices Price Performance

NASDAQ AMD opened at $117.32 on Monday. Advanced Micro Devices has a 1 year low of $114.41 and a 1 year high of $227.30. The stock’s 50-day moving average price is $132.11 and its two-hundred day moving average price is $146.27. The company has a market cap of $190.39 billion, a PE ratio of 105.69, a PEG ratio of 1.88 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 (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, meeting the consensus estimate 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 the consensus estimate of $6.71 billion. During the same quarter in the prior year, the firm earned $0.53 EPS. The firm’s quarterly revenue was up 17.6% on a year-over-year basis. On average, analysts predict that Advanced Micro Devices will post 2.54 EPS for the current year.

Insider Activity at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’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 sale, the executive vice president now directly owns 293,347 shares in the company, valued at $41,558,469.49. This trade represents a 12.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Lisa T. Su sold 76,496 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total transaction of $10,912,919.36. Following the transaction, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at $508,834,266.92. This represents a 2.10 % decrease in their position. 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 90 days. 0.73% of the stock is owned by company insiders.

Institutional Trading of Advanced Micro Devices

A number of institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp boosted its stake in Advanced Micro Devices by 2.3% during the third quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after buying an additional 1,580,035 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Advanced Micro Devices by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock valued at $5,597,337,000 after acquiring an additional 441,924 shares in the last quarter. Fisher Asset Management LLC raised its position in Advanced Micro Devices by 2.8% in the third quarter. Fisher Asset Management LLC now owns 23,795,236 shares of the semiconductor manufacturer’s stock worth $3,904,323,000 after purchasing an additional 644,039 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Advanced Micro Devices by 8.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,472,211 shares of the semiconductor manufacturer’s stock worth $3,195,000,000 after purchasing an additional 1,565,083 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in Advanced Micro Devices by 1.4% during the second quarter. Legal & General Group Plc now owns 13,310,158 shares of the semiconductor manufacturer’s stock valued at $2,159,039,000 after purchasing an additional 188,580 shares in the last quarter. 71.34% of the stock is currently owned by 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.