Citigroup Lowers Advanced Micro Devices (NASDAQ:AMD) Price Target to $96.00

Advanced Micro Devices (NASDAQ:AMDGet Rating) had its price target reduced by research analysts at Citigroup from $110.00 to $96.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the semiconductor manufacturer’s stock. Citigroup’s price target would indicate a potential downside of 7.61% from the company’s previous close.

AMD has been the subject of several other reports. Robert W. Baird reaffirmed a “neutral” rating and issued a $100.00 target price on shares of Advanced Micro Devices in a research report on Tuesday, June 14th. Wells Fargo & Company lowered their price target on shares of Advanced Micro Devices from $140.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, July 19th. Susquehanna lowered their price target on shares of Advanced Micro Devices from $140.00 to $120.00 and set a “positive” rating for the company in a research report on Wednesday, July 13th. BMO Capital Markets raised shares of Advanced Micro Devices from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $100.00 to $115.00 in a research report on Thursday, July 14th. Finally, Barclays lowered their price target on shares of Advanced Micro Devices from $115.00 to $85.00 and set an “equal weight” rating for the company in a research report on Monday, July 11th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Advanced Micro Devices currently has an average rating of “Moderate Buy” and an average target price of $125.93.

Advanced Micro Devices Price Performance

Shares of Advanced Micro Devices stock opened at $103.91 on Wednesday. The company’s fifty day simple moving average is $88.51 and its two-hundred day simple moving average is $100.44. Advanced Micro Devices has a 12-month low of $71.60 and a 12-month high of $164.46. The company has a quick ratio of 1.96, a current ratio of 2.40 and a debt-to-equity ratio of 0.03. The firm has a market cap of $168.39 billion, a PE ratio of 43.66, a price-to-earnings-growth ratio of 0.89 and a beta of 1.96.

Advanced Micro Devices (NASDAQ:AMDGet Rating) last posted its earnings results on Tuesday, August 2nd. The semiconductor manufacturer reported $1.05 EPS for the quarter, topping the consensus estimate of $1.03 by $0.02. Advanced Micro Devices had a net margin of 14.51% and a return on equity of 20.35%. During the same period in the previous year, the business posted $0.58 earnings per share. As a group, equities analysts expect that Advanced Micro Devices will post 3.99 EPS for the current year.

Insider Activity at Advanced Micro Devices

In related news, CFO Devinder Kumar sold 28,966 shares of the business’s stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $100.00, for a total transaction of $2,896,600.00. Following the completion of the sale, the chief financial officer now directly owns 524,370 shares in the company, valued at $52,437,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Advanced Micro Devices news, EVP Paul Darren Grasby sold 32,694 shares of Advanced Micro Devices stock in a transaction that occurred on Tuesday, July 12th. The shares were sold at an average price of $76.99, for a total transaction of $2,517,111.06. Following the transaction, the executive vice president now owns 37,800 shares of the company’s stock, valued at $2,910,222. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Devinder Kumar sold 28,966 shares of Advanced Micro Devices stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $100.00, for a total transaction of $2,896,600.00. Following the transaction, the chief financial officer now directly owns 524,370 shares in the company, valued at approximately $52,437,000. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 81,660 shares of company stock worth $7,462,511. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Advanced Micro Devices

Several large investors have recently added to or reduced their stakes in the company. Private Trust Co. NA lifted its holdings in shares of Advanced Micro Devices by 24.7% in the first quarter. Private Trust Co. NA now owns 6,668 shares of the semiconductor manufacturer’s stock worth $729,000 after buying an additional 1,320 shares in the last quarter. Wealthcare Advisory Partners LLC lifted its holdings in shares of Advanced Micro Devices by 50.1% in the first quarter. Wealthcare Advisory Partners LLC now owns 12,942 shares of the semiconductor manufacturer’s stock worth $1,415,000 after buying an additional 4,322 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of Advanced Micro Devices in the fourth quarter worth $2,259,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Advanced Micro Devices by 591.9% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 11,001 shares of the semiconductor manufacturer’s stock worth $1,203,000 after buying an additional 9,411 shares in the last quarter. Finally, CAPROCK Group Inc. lifted its holdings in shares of Advanced Micro Devices by 66.5% in the first quarter. CAPROCK Group Inc. now owns 14,864 shares of the semiconductor manufacturer’s stock worth $1,625,000 after buying an additional 5,935 shares in the last quarter. Hedge funds and other institutional investors own 69.61% of the company’s stock.

Advanced Micro Devices Company Profile

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Advanced Micro Devices, Inc operates as a semiconductor company worldwide. The company operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. Its products include x86 microprocessors as an accelerated processing unit, chipsets, discrete and integrated graphics processing units (GPUs), data center and professional GPUs, and development services; and server and embedded processors, and semi-custom System-on-Chip (SoC) products, development services, and technology for game consoles.

Further Reading

Analyst Recommendations for Advanced Micro Devices (NASDAQ:AMD)

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