Advanced Micro Devices (NASDAQ:AMD) Price Target Cut to $150.00 by Analysts at TD Cowen

Advanced Micro Devices (NASDAQ:AMD) had its price objective reduced by TD Cowen from $185.00 to $150.00 in a research note issued to investors on Monday, Marketbeat reports. They currently have a buy rating on the semiconductor manufacturer’s stock.

A number of other equities analysts have also recently commented on AMD. Benchmark reissued a “buy” rating and set a $200.00 price target on shares of Advanced Micro Devices in a report on Thursday, October 31st. Bank of America cut Advanced Micro Devices from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $180.00 to $155.00 in a research note on Monday, December 9th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $180.00 price target on shares of Advanced Micro Devices in a report on Wednesday, October 30th. The Goldman Sachs Group lowered Advanced Micro Devices from a “buy” rating to a “neutral” rating and lowered their price target for the company from $175.00 to $129.00 in a research report on Friday, January 10th. Finally, Barclays decreased their target price on Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $179.68.

Advanced Micro Devices Trading Up 3.3 %

Advanced Micro Devices stock opened at $119.96 on Monday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50. The stock has a market capitalization of $194.67 billion, a P/E ratio of 108.07, a PEG ratio of 1.88 and a beta of 1.66. Advanced Micro Devices has a 52 week low of $114.41 and a 52 week high of $227.30. The stock has a 50-day simple moving average of $131.60 and a 200 day simple moving average of $145.95.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.92. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The business had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same period in the previous year, the company posted $0.53 EPS. The firm’s quarterly revenue was up 17.6% on a year-over-year basis. Analysts expect that Advanced Micro Devices will post 2.54 earnings per share for the current year.

Insider Activity at Advanced Micro Devices

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the completion of the sale, the executive vice president now directly owns 293,347 shares in the company, valued at $41,558,469.49. This represents a 12.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Lisa T. Su sold 76,496 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total transaction of $10,912,919.36. Following the completion of the transaction, the chief executive officer now owns 3,566,762 shares in the company, valued at $508,834,266.92. The trade was a 2.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 197,036 shares of company stock valued at $28,165,821 over the last three months. 0.73% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AMD. International Assets Investment Management LLC grew its stake in shares of Advanced Micro Devices by 17,137.3% in the third quarter. International Assets Investment Management LLC now owns 7,860,909 shares of the semiconductor manufacturer’s stock worth $1,289,818,000 after acquiring an additional 7,815,305 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Advanced Micro Devices by 42.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock worth $1,381,679,000 after purchasing an additional 2,497,056 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Advanced Micro Devices during the 2nd quarter valued at approximately $296,178,000. State Street Corp raised its holdings in Advanced Micro Devices by 2.3% during the third quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock valued at $11,513,538,000 after acquiring an additional 1,580,035 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Advanced Micro Devices by 8.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,472,211 shares of the semiconductor manufacturer’s stock worth $3,195,000,000 after acquiring an additional 1,565,083 shares during 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.