Truist Financial Cuts Advanced Micro Devices (NASDAQ:AMD) Price Target to $162.00

Advanced Micro Devices (NASDAQ:AMD) had its price objective reduced by Truist Financial from $174.00 to $162.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a hold rating on the semiconductor manufacturer’s stock.

Other equities analysts have also recently issued reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of Advanced Micro Devices from $115.00 to $180.00 and gave the company a neutral rating in a research report on Wednesday, January 31st. Cantor Fitzgerald restated an overweight rating and set a $190.00 price objective on shares of Advanced Micro Devices in a research note on Monday, March 4th. Mizuho upped their target price on Advanced Micro Devices from $200.00 to $235.00 and gave the company a buy rating in a research report on Thursday, March 7th. Northland Securities raised shares of Advanced Micro Devices from a market perform rating to an outperform rating and set a $195.00 price target for the company in a research report on Wednesday, January 31st. Finally, Evercore ISI began coverage on shares of Advanced Micro Devices in a report on Tuesday, April 16th. They issued an outperform rating and a $200.00 price target on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Advanced Micro Devices has a consensus rating of Moderate Buy and a consensus price target of $184.24.

Advanced Micro Devices Trading Up 3.0 %

Shares of AMD opened at $150.60 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.64 and a quick ratio of 1.86. Advanced Micro Devices has a 12 month low of $81.11 and a 12 month high of $227.30. The stock has a market cap of $243.39 billion, a PE ratio of 221.47, a P/E/G ratio of 2.19 and a beta of 1.66. The stock’s 50-day moving average is $175.93 and its two-hundred day moving average is $151.50.

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

Insiders Place Their Bets

In related news, EVP Mark D. Papermaster sold 16,200 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $177.57, for a total value of $2,876,634.00. Following the completion of the transaction, the executive vice president now owns 1,554,602 shares in the company, valued at approximately $276,050,677.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,200 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $177.57, for a total transaction of $2,876,634.00. Following the completion of the transaction, the executive vice president now directly owns 1,554,602 shares of the company’s stock, valued at approximately $276,050,677.14. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Lisa T. Su sold 125,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $195.13, for a total value of $24,391,250.00. Following the completion of the sale, the chief executive officer now directly owns 3,222,230 shares in the company, valued at approximately $628,753,739.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 181,850 shares of company stock worth $34,637,833. 0.73% of the stock is owned by company insiders.

Institutional Investors Weigh In On Advanced Micro Devices

A number of institutional investors and hedge funds have recently modified their holdings of AMD. Tradewinds Capital Management LLC boosted its position in shares of Advanced Micro Devices by 102.9% in the 1st quarter. Tradewinds Capital Management LLC now owns 140 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 71 shares during the period. Peoples Bank KS purchased a new position in shares of Advanced Micro Devices in the third quarter worth approximately $26,000. Spartan Planning & Wealth Management acquired a new stake in shares of Advanced Micro Devices during the third quarter valued at approximately $27,000. Northwest Bank & Trust Co purchased a new stake in shares of Advanced Micro Devices in the 4th quarter valued at approximately $28,000. Finally, Bare Financial Services Inc acquired a new position in Advanced Micro Devices in the 4th quarter worth approximately $29,000. 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.