Citigroup Cuts Advanced Micro Devices (NASDAQ:AMD) Price Target to $200.00

Advanced Micro Devices (NASDAQ:AMD) had its target price trimmed by Citigroup from $210.00 to $200.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the semiconductor manufacturer’s stock.

A number of other brokerages have also recently commented on AMD. Bank of America restated a “buy” rating and issued a $180.00 price target on shares of Advanced Micro Devices in a research report on Thursday, October 3rd. Wells Fargo & Company increased their target price on shares of Advanced Micro Devices from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Susquehanna reaffirmed a “positive” rating and set a $200.00 price target on shares of Advanced Micro Devices in a report on Wednesday, July 31st. Evercore ISI increased their price objective on shares of Advanced Micro Devices from $193.00 to $198.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Edward Jones began coverage on shares of Advanced Micro Devices in a research report on Tuesday, August 20th. They set a “buy” rating on the stock. One research 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 stock. According to data from MarketBeat.com, Advanced Micro Devices has a consensus rating of “Moderate Buy” and a consensus price target of $192.79.

Advanced Micro Devices Stock Performance

AMD opened at $141.86 on Wednesday. The company’s 50 day moving average is $154.75 and its 200 day moving average is $155.81. The company has a current ratio of 2.50, a quick ratio of 2.01 and a debt-to-equity ratio of 0.03. The company has a market cap of $229.60 billion, a price-to-earnings ratio of 127.80, a PEG ratio of 2.03 and a beta of 1.70. Advanced Micro Devices has a 12-month low of $105.91 and a 12-month high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, hitting the consensus estimate of $0.92. The business had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The company’s revenue was up 17.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.53 EPS. On average, equities research analysts predict that Advanced Micro Devices will post 2.56 EPS for the current year.

Institutional Investors Weigh In On Advanced Micro Devices

Several large investors have recently added to or reduced their stakes in the stock. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Advanced Micro Devices in the 1st quarter worth approximately $264,000. Cornerstone Wealth Management LLC lifted its position in Advanced Micro Devices by 16.3% in the first quarter. Cornerstone Wealth Management LLC now owns 6,081 shares of the semiconductor manufacturer’s stock worth $1,098,000 after buying an additional 854 shares during the last quarter. FORVIS Wealth Advisors LLC boosted its stake in Advanced Micro Devices by 37.1% during the first quarter. FORVIS Wealth Advisors LLC now owns 5,029 shares of the semiconductor manufacturer’s stock worth $908,000 after buying an additional 1,361 shares during the period. Ashton Thomas Private Wealth LLC increased its position in Advanced Micro Devices by 17.9% during the first quarter. Ashton Thomas Private Wealth LLC now owns 20,215 shares of the semiconductor manufacturer’s stock valued at $3,649,000 after acquiring an additional 3,068 shares during the last quarter. Finally, Norden Group LLC boosted its stake in shares of Advanced Micro Devices by 41.1% during the 1st quarter. Norden Group LLC now owns 5,752 shares of the semiconductor manufacturer’s stock worth $1,038,000 after purchasing an additional 1,675 shares during the period. 71.34% of the stock is 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.