Wells Fargo & Company Lowers Advanced Micro Devices (NASDAQ:AMD) Price Target to $120.00

Advanced Micro Devices (NASDAQ:AMD) had its target price decreased by equities research analysts at Wells Fargo & Company from $140.00 to $120.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the semiconductor manufacturer’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 37.15% from the company’s previous close.

Several other analysts have also issued reports on the stock. Piper Sandler restated an “overweight” rating on shares of Advanced Micro Devices in a research report on Wednesday, February 19th. Stifel Nicolaus cut their price objective on shares of Advanced Micro Devices from $200.00 to $162.00 and set a “buy” rating for the company in a research report on Wednesday, February 5th. Mizuho reduced their price objective on Advanced Micro Devices from $140.00 to $120.00 and set an “outperform” rating for the company in a research note on Friday, March 14th. KeyCorp downgraded Advanced Micro Devices from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, April 8th. Finally, Bank of America reduced their price target on Advanced Micro Devices from $155.00 to $135.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $144.90.

Advanced Micro Devices Price Performance

NASDAQ AMD opened at $87.50 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.62 and a quick ratio of 1.83. Advanced Micro Devices has a 1-year low of $76.48 and a 1-year high of $187.28. The stock has a market capitalization of $141.42 billion, a price-to-earnings ratio of 88.38, a PEG ratio of 1.11 and a beta of 1.89. The business’s fifty day moving average price is $100.93 and its 200-day moving average price is $123.55.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.07. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. On average, equities analysts predict that Advanced Micro Devices will post 3.87 earnings per share for the current year.

Insider Transactions at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,500 shares of Advanced Micro Devices stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total value of $1,670,725.00. Following the completion of the transaction, the executive vice president now owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. This trade represents a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Philip Guido acquired 4,645 shares of Advanced Micro Devices stock in a transaction on Friday, February 7th. The shares were bought at an average cost of $107.56 per share, for a total transaction of $499,616.20. Following the completion of the purchase, the executive vice president now directly owns 33,522 shares of the company’s stock, valued at $3,605,626.32. The trade was a 16.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

Several large investors have recently modified their holdings of the stock. Segment Wealth Management LLC increased its position in Advanced Micro Devices by 0.5% during the fourth quarter. Segment Wealth Management LLC now owns 16,038 shares of the semiconductor manufacturer’s stock valued at $1,937,000 after acquiring an additional 87 shares during the last quarter. Breakwater Capital Group grew its holdings in Advanced Micro Devices by 5.2% during the 4th quarter. Breakwater Capital Group now owns 1,767 shares of the semiconductor manufacturer’s stock valued at $213,000 after purchasing an additional 88 shares during the last quarter. Koshinski Asset Management Inc. raised its position in Advanced Micro Devices by 1.9% in the 4th quarter. Koshinski Asset Management Inc. now owns 4,762 shares of the semiconductor manufacturer’s stock worth $575,000 after purchasing an additional 91 shares during the period. TFG Advisers LLC lifted its stake in Advanced Micro Devices by 2.0% in the fourth quarter. TFG Advisers LLC now owns 4,741 shares of the semiconductor manufacturer’s stock worth $573,000 after purchasing an additional 92 shares during the last quarter. Finally, BSW Wealth Partners boosted its position in shares of Advanced Micro Devices by 1.1% during the fourth quarter. BSW Wealth Partners now owns 8,843 shares of the semiconductor manufacturer’s stock valued at $1,068,000 after buying an additional 94 shares during the period. Institutional investors own 71.34% of the company’s stock.

About Advanced Micro Devices

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.