Wells Fargo & Company Cuts Advanced Micro Devices (NASDAQ:AMD) Price Target to $140.00

Advanced Micro Devices (NASDAQ:AMD) had its target price lowered by Wells Fargo & Company from $165.00 to $140.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an overweight rating on the semiconductor manufacturer’s stock.

AMD has been the topic of a number of other research reports. Loop Capital initiated coverage on Advanced Micro Devices in a report on Tuesday, January 14th. They issued a “buy” rating and a $175.00 price target on the stock. Mizuho dropped their price target 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. Roth Mkm reaffirmed a “buy” rating and set a $200.00 price target on shares of Advanced Micro Devices in a research note on Friday, October 11th. Citigroup lowered their price objective on shares of Advanced Micro Devices from $200.00 to $175.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Finally, KeyCorp cut their target price on shares of Advanced Micro Devices from $150.00 to $140.00 and set an “overweight” rating for the company in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Advanced Micro Devices has a consensus rating of “Moderate Buy” and an average target price of $158.70.

Advanced Micro Devices Price Performance

Advanced Micro Devices stock opened at $107.56 on Wednesday. The business has a 50 day simple moving average of $124.01 and a 200-day simple moving average of $140.18. Advanced Micro Devices has a 12 month low of $106.50 and a 12 month high of $227.30. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78. The stock has a market capitalization of $174.55 billion, a PE ratio of 96.90, a price-to-earnings-growth ratio of 1.03 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results 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 return on equity of 6.62% and a net margin of 7.52%. Equities analysts predict that Advanced Micro Devices will post 2.54 earnings per share for the current year.

Insider Activity

In other news, CEO Lisa T. Su sold 76,496 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total value of $10,912,919.36. Following the transaction, the chief executive officer now owns 3,566,762 shares in the company, valued at approximately $508,834,266.92. The trade was a 2.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

Institutional investors and hedge funds have recently modified their holdings of the business. Sequoia Financial Advisors LLC raised its position in shares of Advanced Micro Devices by 7.5% during the fourth quarter. Sequoia Financial Advisors LLC now owns 61,529 shares of the semiconductor manufacturer’s stock worth $7,432,000 after purchasing an additional 4,313 shares during the period. Summit X LLC raised its holdings in Advanced Micro Devices by 9.0% during the fourth quarter. Summit X LLC now owns 6,259 shares of the semiconductor manufacturer’s stock worth $756,000 after buying an additional 516 shares during the last quarter. Moors & Cabot Inc. lifted its stake in shares of Advanced Micro Devices by 11.6% in the fourth quarter. Moors & Cabot Inc. now owns 23,446 shares of the semiconductor manufacturer’s stock valued at $2,832,000 after buying an additional 2,428 shares in the last quarter. Lane Generational LLC acquired a new position in shares of Advanced Micro Devices during the fourth quarter valued at about $2,695,000. Finally, Prosperity Financial Group Inc. increased its position in shares of Advanced Micro Devices by 58.4% during the fourth quarter. Prosperity Financial Group Inc. now owns 8,348 shares of the semiconductor manufacturer’s stock worth $1,008,000 after acquiring an additional 3,077 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.