Wells Fargo & Company Lowers Advanced Micro Devices (NASDAQ:AMD) Price Target to $120.00

Advanced Micro Devices (NASDAQ:AMD) had its target price cut by equities researchers at Wells Fargo & Company from $140.00 to $120.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the semiconductor manufacturer’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 36.74% from the stock’s current price.

Several other analysts have also recently commented on the stock. StockNews.com cut shares of Advanced Micro Devices from a “hold” rating to a “sell” rating in a research note on Wednesday, March 26th. Benchmark restated a “buy” rating and issued a $170.00 target price on shares of Advanced Micro Devices in a research note on Tuesday, February 18th. Truist Financial set a $130.00 price objective on Advanced Micro Devices in a research report on Wednesday, February 5th. Wedbush reiterated an “outperform” rating and set a $150.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, February 5th. Finally, TD Cowen cut their price objective on Advanced Micro Devices from $135.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $145.59.

Advanced Micro Devices Stock Down 0.6 %

Advanced Micro Devices stock traded down $0.54 during midday trading on Thursday, reaching $87.76. The company’s stock had a trading volume of 16,199,589 shares, compared to its average volume of 43,229,792. Advanced Micro Devices has a 52-week low of $76.48 and a 52-week high of $187.28. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.62 and a quick ratio of 1.83. The stock has a market capitalization of $141.84 billion, a P/E ratio of 88.64, a PEG ratio of 1.11 and a beta of 1.89. The stock’s 50-day simple moving average is $101.86 and its 200-day simple moving average is $124.57.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.07. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. On average, sell-side analysts expect that Advanced Micro Devices will post 3.87 EPS for the current year.

Insider Buying and Selling

In other Advanced Micro Devices news, EVP Philip Guido bought 4,645 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was acquired at an average cost of $107.56 per share, with a total value of $499,616.20. Following the purchase, the executive vice president now owns 33,522 shares in the company, valued at approximately $3,605,626.32. This represents a 16.09 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

A number of large investors have recently made changes to their positions in the stock. Bear Mountain Capital Inc. acquired a new stake in shares of Advanced Micro Devices in the 4th quarter worth approximately $25,000. Global Wealth Strategies & Associates purchased a new position in Advanced Micro Devices during the fourth quarter worth $26,000. Greenline Partners LLC acquired a new position in shares of Advanced Micro Devices in the fourth quarter worth $28,000. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Advanced Micro Devices during the fourth quarter valued at $29,000. Finally, Kozak & Associates Inc. increased its position in Advanced Micro Devices by 67.6% during the 1st quarter. Kozak & Associates Inc. now owns 305 shares of the semiconductor manufacturer’s stock worth $29,000 after purchasing an additional 123 shares in the last quarter. Hedge funds and other 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.