Citigroup Cuts Advanced Micro Devices (NASDAQ:AMD) Price Target to $175.00

Advanced Micro Devices (NASDAQ:AMD) had its price target lowered by analysts at Citigroup from $200.00 to $175.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor manufacturer’s stock. Citigroup’s price objective suggests a potential upside of 43.62% from the stock’s current price.

Several other equities analysts also recently weighed in on AMD. Morgan Stanley lowered their price target on shares of Advanced Micro Devices from $169.00 to $158.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Wells Fargo & Company lowered their price target on shares of Advanced Micro Devices from $205.00 to $165.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Benchmark reaffirmed a “buy” rating and set a $200.00 price target on shares of Advanced Micro Devices in a report on Thursday, October 31st. Evercore ISI lifted their price target on shares of Advanced Micro Devices from $193.00 to $198.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Barclays lowered their target price on shares of Advanced Micro Devices from $170.00 to $140.00 and set an “overweight” rating on the stock in a report on Friday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $177.71.

Advanced Micro Devices Stock Performance

NASDAQ AMD traded up $0.39 during trading hours on Tuesday, hitting $121.85. 8,132,030 shares of the company’s stock traded hands, compared to its average volume of 37,558,277. The business’s fifty day moving average price is $129.42 and its two-hundred day moving average price is $144.76. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $197.74 billion, a P/E ratio of 109.78, a P/E/G ratio of 1.07 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.

Advanced Micro Devices (NASDAQ:AMD) last announced its 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 net margin of 7.52% and a return on equity of 6.62%. The company had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same period in the previous year, the business posted $0.53 earnings per share. The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. Equities research analysts predict that Advanced Micro Devices will post 2.54 EPS for the current year.

Insider Activity at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total value of $5,743,301.80. Following the transaction, the executive vice president now owns 293,347 shares in the company, valued at approximately $41,558,469.49. This trade represents a 12.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Lisa T. Su sold 80,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total value of $11,509,600.00. Following the completion of the transaction, the chief executive officer now owns 3,566,762 shares in the company, valued at $513,150,048.94. The trade was a 2.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 197,036 shares of company stock valued at $28,165,821. 0.65% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in Advanced Micro Devices by 5.5% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 20,493 shares of the semiconductor manufacturer’s stock valued at $2,475,000 after purchasing an additional 1,067 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in Advanced Micro Devices by 28.4% in the 4th quarter. Exchange Traded Concepts LLC now owns 83,453 shares of the semiconductor manufacturer’s stock valued at $10,080,000 after purchasing an additional 18,476 shares in the last quarter. CX Institutional raised its holdings in shares of Advanced Micro Devices by 53.1% during the 4th quarter. CX Institutional now owns 14,685 shares of the semiconductor manufacturer’s stock worth $1,774,000 after acquiring an additional 5,096 shares during the period. Zweig DiMenna Associates LLC raised its holdings in shares of Advanced Micro Devices by 1.7% during the 4th quarter. Zweig DiMenna Associates LLC now owns 120,846 shares of the semiconductor manufacturer’s stock worth $14,597,000 after acquiring an additional 2,047 shares during the period. Finally, Berbice Capital Management LLC purchased a new position in shares of Advanced Micro Devices during the 4th quarter worth $741,000. 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.