Cantor Fitzgerald Cuts Advanced Micro Devices (NASDAQ:AMD) Price Target to $170.00

Advanced Micro Devices (NASDAQ:AMD) had its price objective cut by Cantor Fitzgerald from $190.00 to $170.00 in a research note published on Wednesday morning, Benzinga reports. They currently have an overweight rating on the semiconductor manufacturer’s stock.

A number of other brokerages also recently issued reports on AMD. HSBC raised Advanced Micro Devices from a hold rating to a buy rating and raised their price objective for the stock from $180.00 to $225.00 in a research report on Tuesday, April 16th. Morgan Stanley lowered their price objective on shares of Advanced Micro Devices from $193.00 to $177.00 and set an overweight rating for the company in a research note on Monday, April 29th. Bank of America boosted their target price on Advanced Micro Devices from $165.00 to $195.00 and gave the stock a buy rating in a research note on Monday, January 29th. KeyCorp upped their target price on shares of Advanced Micro Devices from $195.00 to $270.00 and gave the stock an overweight rating in a research note on Wednesday, January 31st. Finally, Rosenblatt Securities restated a buy rating and issued a $250.00 price objective on shares of Advanced Micro Devices in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $184.24.

Advanced Micro Devices Stock Up 3.0 %

Shares of NASDAQ AMD opened at $150.60 on Wednesday. The firm has a market cap of $243.39 billion, a price-to-earnings ratio of 221.47, a price-to-earnings-growth ratio of 2.19 and a beta of 1.66. The company’s 50-day simple moving average is $175.93 and its 200-day simple moving average is $151.50. The company has a quick ratio of 1.86, a current ratio of 2.64 and a debt-to-equity ratio of 0.03. Advanced Micro Devices has a 52-week low of $81.11 and a 52-week high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.01. The company had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.48 billion. Advanced Micro Devices had a net margin of 4.89% and a return on equity of 5.72%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.43 EPS. Equities analysts predict that Advanced Micro Devices will post 2.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other Advanced Micro Devices news, CAO Darla M. Smith sold 1,678 shares of the company’s stock in a transaction on 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 approximately $794,069.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CAO Darla M. Smith sold 1,678 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $188.66, for a total transaction of $316,571.48. Following the transaction, the chief accounting officer now owns 4,209 shares of the company’s stock, valued at $794,069.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark D. Papermaster sold 16,200 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $177.57, for a total value of $2,876,634.00. Following the completion of the sale, the executive vice president now directly owns 1,554,602 shares of the company’s stock, valued at approximately $276,050,677.14. The disclosure for this sale can be found here. In the last three months, insiders have sold 181,850 shares of company stock valued at $34,637,833. Insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Tradewinds Capital Management LLC increased its position in Advanced Micro Devices by 102.9% during the first quarter. Tradewinds Capital Management LLC now owns 140 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 71 shares in the last quarter. Peoples Bank KS purchased a new stake in Advanced Micro Devices in the 3rd quarter worth approximately $26,000. Spartan Planning & Wealth Management acquired a new position in Advanced Micro Devices in the 3rd quarter valued at $27,000. Northwest Bank & Trust Co acquired a new position in Advanced Micro Devices in the fourth quarter valued at $28,000. Finally, Bare Financial Services Inc acquired a new stake in shares of Advanced Micro Devices in the fourth quarter worth approximately $29,000. 71.34% of the stock is owned by institutional investors and hedge funds.

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.