Barclays Lowers Advanced Micro Devices (NASDAQ:AMD) Price Target to $140.00

Advanced Micro Devices (NASDAQ:AMD) had its price target reduced by research analysts at Barclays from $170.00 to $140.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the semiconductor manufacturer’s stock. Barclays‘s target price would suggest a potential upside of 18.20% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the stock. Mizuho decreased their price objective on shares of Advanced Micro Devices from $180.00 to $160.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. TD Cowen decreased their price target on Advanced Micro Devices from $185.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday. The Goldman Sachs Group cut Advanced Micro Devices from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $175.00 to $129.00 in a report on Friday, January 10th. Citigroup reduced their price objective on Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company lowered their target price on Advanced Micro Devices from $205.00 to $165.00 and set an “overweight” rating for the company in a research note on Monday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $178.61.

Advanced Micro Devices Stock Performance

AMD opened at $118.44 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50. Advanced Micro Devices has a 52-week low of $114.41 and a 52-week high of $227.30. The firm has a market cap of $192.21 billion, a P/E ratio of 106.70, a price-to-earnings-growth ratio of 1.03 and a beta of 1.66. The business’s fifty day moving average is $131.09 and its 200-day moving average is $145.76.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, hitting 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 business had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter in the prior year, the business posted $0.53 earnings per share. Advanced Micro Devices’s revenue was up 17.6% compared to the same quarter last year. Sell-side analysts expect that Advanced Micro Devices will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’s stock in a transaction that occurred on 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 owns 293,347 shares of the company’s stock, valued at $41,558,469.49. This trade represents a 12.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Lisa T. Su sold 76,496 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total value of $10,912,919.36. Following the completion of the transaction, the chief executive officer now directly owns 3,566,762 shares in the company, valued at approximately $508,834,266.92. This trade represents a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 197,036 shares of company stock valued at $28,165,821 over the last quarter. Insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Creative Capital Management Investments LLC boosted its position in shares of Advanced Micro Devices by 124.6% during 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 raised its stake in Advanced Micro Devices by 90.4% during the 3rd quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 75 shares during the period. Global Wealth Strategies & Associates bought a new position in Advanced Micro Devices in the fourth quarter worth approximately $26,000. Retirement Wealth Solutions LLC acquired a new stake in Advanced Micro Devices in the fourth quarter valued at approximately $32,000. Finally, Abich Financial Wealth Management LLC increased its holdings in shares of Advanced Micro Devices by 101.8% during the second quarter. Abich Financial Wealth Management LLC now owns 220 shares of the semiconductor manufacturer’s stock valued at $36,000 after acquiring an additional 111 shares in the last quarter. 71.34% of the stock is 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.