Advanced Micro Devices (NASDAQ:AMD) Price Target Cut to $175.00 by Analysts at Citigroup

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

Several other brokerages have also recently issued reports on AMD. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price objective on shares of Advanced Micro Devices in a research note on Monday, October 28th. Evercore ISI increased their target price on shares of Advanced Micro Devices from $193.00 to $198.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Morgan Stanley reduced their price target on shares of Advanced Micro Devices from $169.00 to $158.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. KeyCorp reduced their price objective on 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. Finally, Wolfe Research downgraded shares of Advanced Micro Devices from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $177.71.

Advanced Micro Devices Stock Down 0.6 %

Shares of NASDAQ:AMD opened at $123.04 on Tuesday. The company has a market capitalization of $199.67 billion, a P/E ratio of 110.85, a P/E/G ratio of 1.08 and a beta of 1.66. 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 stock’s fifty day simple moving average is $128.68 and its 200-day simple moving average is $144.27. Advanced Micro Devices has a 52-week low of $114.41 and a 52-week high of $227.30.

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

Insider Buying and Selling

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of the business’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 sale, the executive vice president now owns 293,347 shares of the company’s stock, valued at $41,558,469.49. The trade was a 12.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lisa T. Su sold 76,496 shares of the company’s stock in a transaction that occurred on 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 $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 90 days, insiders have sold 197,036 shares of company stock valued at $28,165,821. Insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. International Assets Investment Management LLC grew its holdings in shares of Advanced Micro Devices by 17,137.3% in the 3rd quarter. International Assets Investment Management LLC now owns 7,860,909 shares of the semiconductor manufacturer’s stock worth $1,289,818,000 after acquiring an additional 7,815,305 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Advanced Micro Devices by 42.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock valued at $1,381,679,000 after buying an additional 2,497,056 shares during the last quarter. State Street Corp increased its stake in shares of Advanced Micro Devices by 2.3% during the 3rd quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after purchasing an additional 1,580,035 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Advanced Micro Devices by 8.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,472,211 shares of the semiconductor manufacturer’s stock worth $3,195,000,000 after acquiring an additional 1,565,083 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Advanced Micro Devices by 11.3% in the third quarter. Van ECK Associates Corp now owns 9,620,878 shares of the semiconductor manufacturer’s stock valued at $1,471,128,000 after purchasing an additional 975,220 shares during the period. 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.