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

Advanced Micro Devices (NASDAQ:AMD) had its price objective lowered by Citigroup from $200.00 to $175.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the semiconductor manufacturer’s stock.

A number of other equities analysts also recently issued reports on the stock. KeyCorp dropped their price objective on shares of Advanced Micro Devices from $220.00 to $150.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. Benchmark reiterated a “buy” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a research report on Thursday, October 31st. Wells Fargo & Company reduced their price objective on Advanced Micro Devices from $205.00 to $165.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. HSBC reissued a “reduce” rating and set a $110.00 price target (down previously from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, January 8th. Finally, Roth Mkm restated a “buy” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research report on Friday, October 11th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $177.71.

Advanced Micro Devices Price Performance

Shares of Advanced Micro Devices stock opened at $123.04 on Tuesday. The stock has a 50 day moving average of $128.68 and a 200 day moving average of $144.27. Advanced Micro Devices has a 12 month low of $114.41 and a 12 month high of $227.30. The firm has a market cap of $199.67 billion, a PE ratio of 110.85, a PEG ratio of 1.08 and a beta of 1.66. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, hitting analysts’ consensus estimates of $0.92. The firm had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.71 billion. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The company’s quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.53 EPS. On average, research analysts expect that Advanced Micro Devices will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling at Advanced Micro Devices

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction on Tuesday, November 5th. The shares were 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 $41,558,469.49. This trade represents a 12.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Lisa T. Su sold 76,496 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total transaction of $10,912,919.36. Following the completion of the sale, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, 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. In the last three months, insiders have sold 197,036 shares of company stock valued at $28,165,821. Insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

Several institutional investors have recently added to or reduced their stakes in the stock. Creative Capital Management Investments LLC increased its position in 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 during the period. ZRC Wealth Management LLC lifted its stake in shares of Advanced Micro Devices by 90.4% in the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 75 shares during the period. Global Wealth Strategies & Associates purchased a new stake in Advanced Micro Devices during the fourth quarter worth about $26,000. Retirement Wealth Solutions LLC acquired a new position in Advanced Micro Devices during the fourth quarter worth about $32,000. Finally, Abich Financial Wealth Management LLC increased its holdings in 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 buying an additional 111 shares in the last quarter. Institutional investors and hedge funds 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.