Advanced Micro Devices (NASDAQ:AMD) Price Target Lowered to $165.00 at Wells Fargo & Company

Advanced Micro Devices (NASDAQ:AMD) had its target price decreased by Wells Fargo & Company from $205.00 to $165.00 in a report issued on Monday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the semiconductor manufacturer’s stock.

A number of other brokerages have also recently issued reports on AMD. The Goldman Sachs Group cut Advanced Micro Devices from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $175.00 to $129.00 in a research note on Friday, January 10th. Morgan Stanley cut their price target on shares of Advanced Micro Devices from $169.00 to $158.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Roth Mkm restated a “buy” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research report on Friday, October 11th. Evercore ISI lifted their price objective on Advanced Micro Devices from $193.00 to $198.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $180.00 price target on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $179.68.

Advanced Micro Devices Stock Up 3.3 %

Shares of NASDAQ AMD opened at $119.96 on Monday. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. The firm has a market cap of $194.67 billion, a PE ratio of 108.07, a P/E/G ratio of 1.88 and a beta of 1.66. The company’s fifty day simple moving average is $131.60 and its 200 day simple moving average is $145.95. Advanced Micro Devices has a 12-month low of $114.41 and a 12-month high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.92. The firm had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.53 EPS. As a group, sell-side analysts forecast that Advanced Micro Devices will post 2.54 earnings per share for the current fiscal year.

Insider Transactions 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 dated 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 directly owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. This trade represents a 12.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Lisa T. Su sold 76,496 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $142.66, for a total value of $10,912,919.36. Following the completion of the sale, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at approximately $508,834,266.92. The trade was a 2.10 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 197,036 shares of company stock worth $28,165,821. Corporate insiders own 0.73% of the company’s stock.

Institutional Trading of Advanced Micro Devices

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Creative Capital Management Investments LLC lifted its stake in Advanced Micro Devices by 124.6% in the 3rd quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 86 shares in the last quarter. ZRC Wealth Management LLC lifted its stake in Advanced Micro Devices by 90.4% in the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 75 shares during the last quarter. Fairway Wealth LLC bought a new position in Advanced Micro Devices in the 2nd quarter valued at $27,000. Global Wealth Strategies & Associates bought a new stake in Advanced Micro Devices during the 4th quarter valued at about $26,000. Finally, Abich Financial Wealth Management LLC boosted its holdings in shares of Advanced Micro Devices by 101.8% in the second quarter. Abich Financial Wealth Management LLC now owns 220 shares of the semiconductor manufacturer’s stock valued at $36,000 after purchasing an additional 111 shares during the period. Institutional investors own 71.34% of the company’s stock.

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.