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

Advanced Micro Devices (NASDAQ:AMD) had its price objective dropped by investment analysts at Citigroup from $200.00 to $175.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the semiconductor manufacturer’s stock. Citigroup’s price target suggests a potential upside of 43.62% from the stock’s previous close.

AMD has been the subject of a number of other reports. Piper Sandler reiterated an “overweight” rating and issued a $180.00 target price (down from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 price target on shares of Advanced Micro Devices in a report on Monday, October 28th. Cantor Fitzgerald reissued an “overweight” rating and issued a $180.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. StockNews.com cut Advanced Micro Devices from a “hold” rating to a “sell” rating in a research report on Tuesday, January 14th. Finally, The Goldman Sachs Group cut Advanced Micro Devices from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $175.00 to $129.00 in a research report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Advanced Micro Devices currently has an average rating of “Moderate Buy” and an average target price of $177.71.

Advanced Micro Devices Trading Up 0.3 %

Shares of AMD stock traded up $0.39 during mid-day trading on Tuesday, reaching $121.85. 8,132,030 shares of the stock traded hands, compared to its average volume of 37,558,277. The stock’s fifty day simple moving average is $129.42 and its two-hundred day simple moving average is $144.76. Advanced Micro Devices has a 1-year low of $114.41 and a 1-year high of $227.30. The company has a market cap of $197.74 billion, a price-to-earnings ratio of 109.78, a price-to-earnings-growth ratio of 1.07 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.

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

Insider Transactions at Advanced Micro Devices

In other news, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. This trade represents a 12.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Lisa T. Su sold 76,496 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was 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 represents a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 197,036 shares of company stock valued at $28,165,821. Company insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of AMD. Kayne Anderson Rudnick Investment Management LLC lifted its position in Advanced Micro Devices by 89.0% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,068 shares of the semiconductor manufacturer’s stock valued at $336,000 after acquiring an additional 974 shares during the period. 1832 Asset Management L.P. grew its stake in shares of Advanced Micro Devices by 21.1% in the second quarter. 1832 Asset Management L.P. now owns 166,063 shares of the semiconductor manufacturer’s stock worth $26,937,000 after acquiring an additional 28,961 shares during the period. Public Sector Pension Investment Board grew its stake in shares of Advanced Micro Devices by 73.7% in the second quarter. Public Sector Pension Investment Board now owns 62,107 shares of the semiconductor manufacturer’s stock worth $10,074,000 after acquiring an additional 26,346 shares during the period. Evergreen Capital Management LLC grew its stake in shares of Advanced Micro Devices by 6.2% in the second quarter. Evergreen Capital Management LLC now owns 10,695 shares of the semiconductor manufacturer’s stock worth $1,735,000 after acquiring an additional 622 shares during the period. Finally, Samlyn Capital LLC grew its stake in shares of Advanced Micro Devices by 30.2% in the second quarter. Samlyn Capital LLC now owns 911,763 shares of the semiconductor manufacturer’s stock worth $147,897,000 after acquiring an additional 211,348 shares during the period. 71.34% of the stock is owned by hedge funds and other institutional investors.

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.