Citigroup Cuts Advanced Micro Devices (NASDAQ:AMD) Price Target to $176.00

Advanced Micro Devices (NASDAQ:AMD) had its price objective lowered by Citigroup from $192.00 to $176.00 in a research report sent to investors on Wednesday, Benzinga reports. Citigroup currently has a buy rating on the semiconductor manufacturer’s stock.

Other research analysts have also issued research reports about the stock. 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. TD Cowen increased their price target on shares of Advanced Micro Devices from $185.00 to $200.00 and gave the stock a buy rating in a research report on Thursday, April 18th. UBS Group dropped their price objective on shares of Advanced Micro Devices from $205.00 to $200.00 and set a buy rating for the company in a report on Wednesday. Cantor Fitzgerald dropped their price objective on shares of Advanced Micro Devices from $190.00 to $170.00 and set an overweight rating for the company in a report on Wednesday. Finally, Susquehanna dropped their price objective on shares of Advanced Micro Devices from $200.00 to $185.00 and set a positive rating for the company in a report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat, Advanced Micro Devices presently has a consensus rating of Moderate Buy and a consensus target price of $184.24.

Advanced Micro Devices Stock Up 3.0 %

NASDAQ AMD opened at $150.60 on Wednesday. Advanced Micro Devices has a twelve month low of $81.11 and a twelve month high of $227.30. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.86 and a current ratio of 2.64. The stock has a market cap of $243.42 billion, a PE ratio of 221.47, a PEG ratio of 2.29 and a beta of 1.66. The firm has a 50-day simple moving average of $175.41 and a 200 day simple moving average of $151.81.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.01. Advanced Micro Devices had a net margin of 4.89% and a return on equity of 5.72%. The firm had revenue of $5.47 billion during the quarter, compared to analyst estimates of $5.48 billion. During the same quarter in the prior year, the business posted $0.43 earnings per share. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, research analysts forecast that Advanced Micro Devices will post 2.59 EPS for the current year.

Insider Buying and Selling

In related news, CAO Darla M. Smith sold 1,678 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $188.66, for a total transaction of $316,571.48. Following the sale, the chief accounting officer now directly owns 4,209 shares in the company, valued at $794,069.94. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,200 shares of Advanced Micro Devices stock in a transaction on Monday, April 15th. The shares were sold at an average price of $164.25, for a total value of $2,660,850.00. Following the sale, the executive vice president now directly owns 1,554,602 shares in the company, valued at approximately $255,343,378.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Darla M. Smith sold 1,678 shares of Advanced Micro Devices stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $188.66, for a total transaction of $316,571.48. Following the completion of the sale, the chief accounting officer now owns 4,209 shares in the company, valued at $794,069.94. The disclosure for this sale can be found here. Insiders have sold a total of 181,850 shares of company stock worth $34,637,833 over the last ninety days. Company insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Csenge Advisory Group increased its stake in shares of Advanced Micro Devices by 12.2% during the 1st quarter. Csenge Advisory Group now owns 8,268 shares of the semiconductor manufacturer’s stock worth $1,492,000 after purchasing an additional 898 shares during the last quarter. Richardson Financial Services Inc. acquired a new position in shares of Advanced Micro Devices during the 1st quarter worth about $64,000. Signaturefd LLC increased its stake in shares of Advanced Micro Devices by 9.3% during the 1st quarter. Signaturefd LLC now owns 29,643 shares of the semiconductor manufacturer’s stock worth $5,350,000 after purchasing an additional 2,513 shares during the last quarter. CV Advisors LLC increased its stake in shares of Advanced Micro Devices by 817.3% during the 1st quarter. CV Advisors LLC now owns 15,245 shares of the semiconductor manufacturer’s stock worth $2,752,000 after purchasing an additional 13,583 shares during the last quarter. Finally, Catalina Capital Group LLC increased its stake in shares of Advanced Micro Devices by 131.4% during the 1st quarter. Catalina Capital Group LLC now owns 6,690 shares of the semiconductor manufacturer’s stock worth $1,207,000 after purchasing an additional 3,799 shares during the last quarter. 71.34% of the stock is currently 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.