Advanced Micro Devices (NASDAQ:AMD) Given New $135.00 Price Target at Bank of America

Advanced Micro Devices (NASDAQ:AMD) had its price objective trimmed by Bank of America from $155.00 to $135.00 in a report issued on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the semiconductor manufacturer’s stock.

A number of other equities analysts have also weighed in on AMD. Loop Capital started coverage on Advanced Micro Devices in a research note on Tuesday, January 14th. They issued a “buy” rating and a $175.00 price objective for the company. Morgan Stanley dropped their price objective on Advanced Micro Devices from $158.00 to $147.00 and set an “equal weight” rating for the company in a research note on Tuesday. Hsbc Global Res lowered Advanced Micro Devices from a “strong-buy” rating to a “moderate sell” rating in a research note on Wednesday, January 8th. Piper Sandler reaffirmed an “overweight” rating and issued a $180.00 price objective (down previously from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Finally, Mizuho dropped their price objective on Advanced Micro Devices from $180.00 to $160.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.70.

Advanced Micro Devices Stock Performance

Shares of AMD opened at $107.56 on Wednesday. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. The business has a 50-day simple moving average of $124.01 and a two-hundred day simple moving average of $140.18. The stock has a market cap of $174.55 billion, a price-to-earnings ratio of 96.90, a PEG ratio of 1.03 and a beta of 1.66. Advanced Micro Devices has a 52 week low of $106.50 and a 52 week high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.19). Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. On average, analysts expect that Advanced Micro Devices will post 2.54 EPS for the current year.

Insider Transactions at Advanced Micro Devices

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 sale, the chief executive officer now directly owns 3,566,762 shares in the company, valued at approximately $508,834,266.92. This represents a 2.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC raised its position in shares of Advanced Micro Devices by 17,137.3% in the 3rd quarter. International Assets Investment Management LLC now owns 7,860,909 shares of the semiconductor manufacturer’s stock worth $1,289,818,000 after acquiring an additional 7,815,305 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Advanced Micro Devices by 42.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock worth $1,381,679,000 after acquiring an additional 2,497,056 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Advanced Micro Devices by 23.3% in the 4th quarter. Van ECK Associates Corp now owns 11,859,744 shares of the semiconductor manufacturer’s stock worth $1,432,538,000 after acquiring an additional 2,238,866 shares in the last quarter. State Street Corp raised its position in shares of Advanced Micro Devices by 2.3% in the 3rd quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after acquiring an additional 1,580,035 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Advanced Micro Devices by 8.7% in the 3rd 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 acquiring an additional 1,565,083 shares in the last quarter. 71.34% of the stock is currently owned by hedge funds and other 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.