Advanced Micro Devices (NASDAQ:AMD) PT Lowered to $170.00 at Cantor Fitzgerald

Advanced Micro Devices (NASDAQ:AMD) had its target price dropped by research analysts at Cantor Fitzgerald from $190.00 to $170.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the semiconductor manufacturer’s stock. Cantor Fitzgerald’s price objective suggests a potential upside of 15.23% from the company’s current price.

Several other research analysts have also recently issued reports on the stock. Barclays upped their target price on shares of Advanced Micro Devices from $200.00 to $235.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Citigroup upped their target price on shares of Advanced Micro Devices from $136.00 to $192.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Evercore ISI assumed coverage on shares of Advanced Micro Devices in a research note on Tuesday, April 16th. They set an “outperform” rating and a $200.00 price target for the company. JPMorgan Chase & Co. increased their price target on shares of Advanced Micro Devices from $115.00 to $180.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 31st. Finally, Raymond James cut shares of Advanced Micro Devices from a “strong-buy” rating to an “outperform” rating and increased their price target for the stock from $190.00 to $195.00 in a research note on Tuesday, January 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $185.35.

Advanced Micro Devices Stock Down 6.9 %

NASDAQ AMD traded down $10.85 on Wednesday, hitting $147.53. 27,007,271 shares of the stock were exchanged, compared to its average volume of 71,677,898. The company has a quick ratio of 1.86, a current ratio of 2.51 and a debt-to-equity ratio of 0.03. Advanced Micro Devices has a fifty-two week low of $81.02 and a fifty-two week high of $227.30. The company has a market cap of $238.43 billion, a PE ratio of 283.68, a PEG ratio of 2.44 and a beta of 1.64. The company has a 50-day moving average price of $177.04 and a 200-day moving average price of $151.59.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 EPS for the quarter, topping the consensus estimate of $0.61 by $0.01. Advanced Micro Devices had a net margin of 3.77% and a return on equity of 5.73%. The company had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.48 billion. During the same quarter in the previous year, the business posted $0.43 EPS. The firm’s revenue was up 2.2% on a year-over-year basis. Sell-side analysts anticipate that Advanced Micro Devices will post 2.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other Advanced Micro Devices news, insider Victor Peng sold 100,000 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $175.11, for a total transaction of $17,511,000.00. Following the completion of the transaction, the insider now directly owns 241,266 shares in the company, valued at $42,248,089.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Forrest Eugene Norrod sold 59,293 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $175.94, for a total transaction of $10,432,010.42. Following the sale, the executive vice president now owns 258,690 shares in the company, valued at $45,513,918.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Victor Peng sold 100,000 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $175.11, for a total value of $17,511,000.00. Following the completion of the transaction, the insider now owns 241,266 shares in the company, valued at approximately $42,248,089.26. The disclosure for this sale can be found here. Insiders sold 341,143 shares of company stock worth $62,580,844 over the last three months. 0.65% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Advanced Micro Devices

Several hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Advanced Micro Devices during the fourth quarter worth about $3,426,529,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in Advanced Micro Devices by 813.3% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,647,457 shares of the semiconductor manufacturer’s stock valued at $685,089,000 after buying an additional 4,138,612 shares during the last quarter. International Assets Investment Management LLC raised its position in Advanced Micro Devices by 15,896.5% in the 4th quarter. International Assets Investment Management LLC now owns 3,737,433 shares of the semiconductor manufacturer’s stock valued at $550,935,000 after buying an additional 3,714,069 shares during the last quarter. Capital World Investors raised its position in Advanced Micro Devices by 176.9% in the 4th quarter. Capital World Investors now owns 4,668,542 shares of the semiconductor manufacturer’s stock valued at $688,190,000 after buying an additional 2,982,704 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Advanced Micro Devices by 10.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,675,684 shares of the semiconductor manufacturer’s stock valued at $4,079,674,000 after buying an additional 2,553,392 shares during 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.