Advanced Micro Devices (NASDAQ:AMD) Price Target Cut to $162.00 by Analysts at Truist Financial

Advanced Micro Devices (NASDAQ:AMD) had its target price cut by Truist Financial from $174.00 to $162.00 in a research report released on Wednesday, Benzinga reports. They currently have a hold rating on the semiconductor manufacturer’s stock.

A number of other equities analysts also recently commented on AMD. Raymond James downgraded Advanced Micro Devices from a strong-buy rating to an outperform rating and boosted their price objective for the stock from $190.00 to $195.00 in a research report on Tuesday, January 30th. New Street Research raised Advanced Micro Devices from a neutral rating to a buy rating and set a $215.00 price target for the company in a report on Wednesday, January 24th. Northland Securities raised Advanced Micro Devices from a market perform rating to an outperform rating and set a $195.00 price target for the company in a report on Wednesday, January 31st. JPMorgan Chase & Co. upped their price target on Advanced Micro Devices from $115.00 to $180.00 and gave the company a neutral rating in a report on Wednesday, January 31st. Finally, UBS Group upped their price target on Advanced Micro Devices from $135.00 to $220.00 and gave the company a buy rating in a report on Thursday, January 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat.com, Advanced Micro Devices presently has a consensus rating of Moderate Buy and an average target price of $182.62.

Advanced Micro Devices Stock Down 8.9 %

Shares of NASDAQ:AMD opened at $144.27 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.51 and a quick ratio of 1.86. The firm has a market capitalization of $233.16 billion, a PE ratio of 277.45, a price-to-earnings-growth ratio of 2.44 and a beta of 1.64. The firm’s 50-day moving average is $176.64 and its two-hundred day moving average is $151.54. Advanced Micro Devices has a 1 year low of $81.02 and a 1 year high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. The company had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.48 billion. Advanced Micro Devices had a net margin of 3.77% and a return on equity of 5.73%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.43 earnings per share. Analysts predict that Advanced Micro Devices will post 2.64 EPS for the current year.

Insiders Place Their Bets

In other Advanced Micro Devices news, insider Victor Peng sold 100,000 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $175.11, for a total value of $17,511,000.00. Following the completion of the transaction, the insider now owns 241,266 shares in the company, valued at $42,248,089.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Advanced Micro Devices news, insider Victor Peng sold 100,000 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $175.11, for a total value of $17,511,000.00. Following the completion of the transaction, the insider now owns 241,266 shares in the company, valued at $42,248,089.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Forrest Eugene Norrod sold 59,293 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $175.94, for a total value of $10,432,010.42. Following the completion of the transaction, the executive vice president now owns 258,690 shares of the company’s stock, valued at approximately $45,513,918.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 341,143 shares of company stock worth $62,580,844. 0.65% of the stock is owned by corporate insiders.

Institutional Trading of Advanced Micro Devices

Several large investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Advanced Micro Devices during the fourth quarter valued at $3,426,529,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of Advanced Micro Devices by 813.3% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,647,457 shares of the semiconductor manufacturer’s stock valued at $685,089,000 after acquiring an additional 4,138,612 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Advanced Micro Devices by 15,896.5% during the fourth quarter. International Assets Investment Management LLC now owns 3,737,433 shares of the semiconductor manufacturer’s stock valued at $550,935,000 after acquiring an additional 3,714,069 shares during the last quarter. Capital World Investors boosted its stake in shares of Advanced Micro Devices by 176.9% during the fourth quarter. Capital World Investors now owns 4,668,542 shares of the semiconductor manufacturer’s stock valued at $688,190,000 after acquiring an additional 2,982,704 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Advanced Micro Devices by 10.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,675,684 shares of the semiconductor manufacturer’s stock valued at $4,079,674,000 after acquiring an additional 2,553,392 shares during the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

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.