Advanced Micro Devices (NASDAQ:AMD) Price Target Cut to $176.00 by Analysts at Citigroup

Advanced Micro Devices (NASDAQ:AMD) had its price objective lowered by Citigroup from $192.00 to $176.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the semiconductor manufacturer’s stock.

Several other research firms have also commented on AMD. KeyCorp cut their price target on shares of Advanced Micro Devices from $270.00 to $230.00 and set an overweight rating on the stock in a report on Wednesday. Melius Research upgraded shares of Advanced Micro Devices from a hold rating to a buy rating and set a $188.00 price target on the stock in a report on Monday, January 8th. DZ Bank restated a hold rating and issued a $200.00 price target on shares of Advanced Micro Devices in a report on Thursday, March 7th. Wedbush restated an outperform rating and issued a $200.00 price target on shares of Advanced Micro Devices in a report on Wednesday. Finally, UBS Group dropped their price objective on shares of Advanced Micro Devices from $205.00 to $200.00 and set a buy rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $182.62.

Advanced Micro Devices Trading Down 8.9 %

Shares of AMD stock opened at $144.27 on Wednesday. The firm has a market cap of $233.16 billion, a P/E ratio of 277.45, a PEG ratio of 2.44 and a beta of 1.64. Advanced Micro Devices has a 1-year low of $81.02 and a 1-year high of $227.30. 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’s 50-day simple moving average is $176.64 and its 200-day simple moving average is $151.54.

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

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,200 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $164.25, for a total transaction of $2,660,850.00. Following the completion of the sale, the executive vice president now owns 1,554,602 shares in the company, valued at $255,343,378.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CAO Darla M. Smith sold 1,678 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $188.66, for a total transaction of $316,571.48. Following the completion of the transaction, the chief accounting officer now owns 4,209 shares in the company, valued at $794,069.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark D. Papermaster sold 16,200 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $164.25, for a total transaction of $2,660,850.00. Following the transaction, the executive vice president now owns 1,554,602 shares of the company’s stock, valued at approximately $255,343,378.50. The disclosure for this sale can be found here. Insiders sold a total of 341,143 shares of company stock worth $62,580,844 over the last 90 days. Insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

Several institutional investors have recently modified their holdings of AMD. Norges Bank acquired a new stake in Advanced Micro Devices in the fourth quarter worth about $3,426,529,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in Advanced Micro Devices by 813.3% in 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 worth $685,089,000 after purchasing an additional 4,138,612 shares during the period. International Assets Investment Management LLC lifted its holdings in Advanced Micro Devices by 15,896.5% in the fourth quarter. International Assets Investment Management LLC now owns 3,737,433 shares of the semiconductor manufacturer’s stock worth $550,935,000 after purchasing an additional 3,714,069 shares during the period. Capital World Investors lifted its holdings in Advanced Micro Devices by 176.9% in the fourth quarter. Capital World Investors now owns 4,668,542 shares of the semiconductor manufacturer’s stock worth $688,190,000 after purchasing an additional 2,982,704 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Advanced Micro Devices by 10.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,675,684 shares of the semiconductor manufacturer’s stock worth $4,079,674,000 after purchasing an additional 2,553,392 shares during the period. Institutional investors 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.