Wells Fargo & Company Lowers Advanced Micro Devices (NASDAQ:AMD) Price Target to $165.00

Advanced Micro Devices (NASDAQ:AMD) had its price target decreased by research analysts at Wells Fargo & Company from $205.00 to $165.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the semiconductor manufacturer’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 41.90% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. UBS Group dropped their target price on shares of Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Mizuho cut their price target on shares of Advanced Micro Devices from $180.00 to $160.00 and set an “outperform” rating for the company in a report on Friday. Cantor Fitzgerald restated an “overweight” rating and set a $180.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Piper Sandler reissued an “overweight” rating and issued a $180.00 price objective (down from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. Finally, Citigroup decreased their price objective on shares of Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-two have issued a buy rating and one has assigned 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 $182.44.

Advanced Micro Devices Stock Performance

Shares of NASDAQ AMD traded up $0.24 during midday trading on Monday, hitting $116.28. 13,931,481 shares of the stock traded hands, compared to its average volume of 39,368,898. The firm has a market capitalization of $188.70 billion, a P/E ratio of 104.76, a PEG ratio of 1.88 and a beta of 1.66. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50. Advanced Micro Devices has a one year low of $114.41 and a one year high of $227.30. The firm has a 50-day moving average of $132.58 and a two-hundred day moving average of $146.57.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, hitting the consensus estimate of $0.92. The business had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The company’s quarterly revenue was up 17.6% on a year-over-year basis. During the same period last year, the firm earned $0.53 earnings per share. On average, equities analysts forecast 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 Advanced Micro Devices stock in a transaction dated Tuesday, November 5th. The stock was 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 in the company, valued at approximately $41,558,469.49. The trade was a 12.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Lisa T. Su sold 80,000 shares of Advanced Micro Devices stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the sale, the chief executive officer now owns 3,566,762 shares in the company, valued at approximately $513,150,048.94. This trade represents a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 197,036 shares of company stock worth $28,165,821 in the last 90 days. 0.73% of the stock is owned by insiders.

Institutional Investors Weigh In On Advanced Micro Devices

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Capital Management Investments LLC raised its position in shares of Advanced Micro Devices by 124.6% in the 3rd quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 86 shares during the period. ZRC Wealth Management LLC grew its position in shares of Advanced Micro Devices by 90.4% in the 3rd 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 bought a new position in Advanced Micro Devices in the fourth quarter valued at approximately $26,000. Fairway Wealth LLC acquired a new position in shares of Advanced Micro Devices in the second quarter valued at approximately $27,000. Finally, Abich Financial Wealth Management LLC increased its position in shares of Advanced Micro Devices by 101.8% during the second quarter. Abich Financial Wealth Management LLC now owns 220 shares of the semiconductor manufacturer’s stock worth $36,000 after acquiring an additional 111 shares in the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

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.