Citigroup Cuts Advanced Micro Devices (NASDAQ:AMD) Price Target to $176.00

Advanced Micro Devices (NASDAQ:AMD) had its price objective trimmed by Citigroup from $192.00 to $176.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the semiconductor manufacturer’s stock.

Several other research firms have also commented on AMD. Wells Fargo & Company raised their price target on shares of Advanced Micro Devices from $165.00 to $190.00 and gave the company an overweight rating in a research report on Wednesday, January 31st. Melius Research raised Advanced Micro Devices from a hold rating to a buy rating and set a $188.00 target price for the company in a research note on Monday, January 8th. Barclays lifted their price target on shares of Advanced Micro Devices from $200.00 to $235.00 and gave the company an overweight rating in a research note on Monday, March 4th. Piper Sandler restated an overweight rating and set a $175.00 price objective (down from $195.00) on shares of Advanced Micro Devices in a research report on Wednesday. Finally, Roth Mkm decreased their target price on Advanced Micro Devices from $190.00 to $180.00 and set a buy rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $184.24.

Advanced Micro Devices Stock Up 3.0 %

AMD stock opened at $150.60 on Wednesday. The company has a quick ratio of 1.86, a current ratio of 2.64 and a debt-to-equity ratio of 0.03. Advanced Micro Devices has a 52 week low of $81.11 and a 52 week high of $227.30. The stock has a market capitalization of $243.39 billion, a PE ratio of 221.47, a price-to-earnings-growth ratio of 2.19 and a beta of 1.66. The firm has a 50 day moving average of $175.93 and a 200 day moving average of $151.50.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.01. Advanced Micro Devices had a return on equity of 5.72% and a net margin of 4.89%. The firm had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.48 billion. During the same period last year, the business posted $0.43 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. Sell-side analysts forecast that Advanced Micro Devices will post 2.64 earnings per share for the current year.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,200 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $164.25, for a total value of $2,660,850.00. Following the sale, the executive vice president now owns 1,554,602 shares of the company’s stock, valued at approximately $255,343,378.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Darla M. Smith sold 1,678 shares of Advanced Micro Devices stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $188.66, for a total transaction of $316,571.48. Following the completion of the sale, the chief accounting officer now directly owns 4,209 shares of the company’s stock, valued at approximately $794,069.94. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Mark D. Papermaster sold 16,200 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $164.25, for a total value of $2,660,850.00. Following the completion of the transaction, the executive vice president now directly owns 1,554,602 shares in the company, valued at approximately $255,343,378.50. The disclosure for this sale can be found here. Insiders sold a total of 181,850 shares of company stock worth $34,637,833 over the last 90 days. Corporate insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

Institutional investors have recently added to or reduced their stakes in the business. Tradewinds Capital Management LLC lifted its position in shares of Advanced Micro Devices by 102.9% during the 1st quarter. Tradewinds Capital Management LLC now owns 140 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 71 shares during the last quarter. Peoples Bank KS purchased a new stake in shares of Advanced Micro Devices in the 3rd quarter valued at about $26,000. Spartan Planning & Wealth Management acquired a new stake in shares of Advanced Micro Devices in the 3rd quarter valued at about $27,000. Northwest Bank & Trust Co purchased a new position in Advanced Micro Devices during the 4th quarter worth approximately $28,000. Finally, Bare Financial Services Inc acquired a new position in shares of Advanced Micro Devices in the 4th quarter valued at $29,000. 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.