Advanced Micro Devices (NASDAQ:AMD) Price Target Cut to $170.00 by Analysts at Cantor Fitzgerald

Advanced Micro Devices (NASDAQ:AMD) had its target price lowered by Cantor Fitzgerald from $190.00 to $170.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the semiconductor manufacturer’s stock.

Several other research analysts have also recently commented on AMD. Melius raised shares of Advanced Micro Devices from a hold rating to a buy rating in a report on Monday, January 8th. Truist Financial lowered their target price on shares of Advanced Micro Devices from $174.00 to $162.00 and set a hold rating on the stock in a report on Wednesday. Raymond James cut shares of Advanced Micro Devices from a strong-buy rating to an outperform rating and raised their target price for the stock from $190.00 to $195.00 in a report on Tuesday, January 30th. Evercore ISI assumed coverage on shares of Advanced Micro Devices in a report on Tuesday, April 16th. They set an outperform rating and a $200.00 target price on the stock. Finally, Barclays increased their price target on shares of Advanced Micro Devices from $200.00 to $235.00 and gave the stock an overweight rating in a research report on Monday, March 4th. One 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 company’s stock. According to MarketBeat.com, Advanced Micro Devices has a consensus rating of Moderate Buy and a consensus price target of $184.24.

Advanced Micro Devices Stock Up 3.0 %

Advanced Micro Devices stock opened at $150.60 on Wednesday. The stock has a market cap of $243.42 billion, a P/E ratio of 221.47, a P/E/G ratio of 2.29 and a beta of 1.66. The company has a quick ratio of 1.86, a current ratio of 2.64 and a debt-to-equity ratio of 0.03. Advanced Micro Devices has a twelve month low of $81.11 and a twelve month high of $227.30. The company’s 50-day moving average price is $175.41 and its two-hundred day moving average price is $151.81.

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, beating the consensus estimate of $0.61 by $0.01. The firm had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.48 billion. Advanced Micro Devices had a net margin of 4.89% and a return on equity of 5.72%. The business’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.43 EPS. As a group, analysts expect that Advanced Micro Devices will post 2.59 EPS for the current year.

Insider Buying and Selling

In related 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 transaction of $2,660,850.00. Following the completion of the transaction, the executive vice president now owns 1,554,602 shares of the company’s stock, valued at $255,343,378.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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 completion of the sale, the executive vice president now directly owns 1,554,602 shares of the company’s stock, valued at $255,343,378.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Joseph A. Householder sold 6,572 shares of Advanced Micro Devices stock in a transaction on Monday, March 4th. The shares were sold at an average price of $208.08, for a total transaction of $1,367,501.76. Following the completion of the sale, the director now directly owns 2,197 shares of the company’s stock, valued at $457,151.76. The disclosure for this sale can be found here. Insiders sold 181,850 shares of company stock valued at $34,637,833 over the last quarter. 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 bought and sold shares of the stock. Chase Investment Counsel Corp increased its position in shares of Advanced Micro Devices by 0.7% during the fourth quarter. Chase Investment Counsel Corp now owns 12,025 shares of the semiconductor manufacturer’s stock worth $1,772,000 after acquiring an additional 87 shares in the last quarter. Washburn Capital Management Inc. bought a new stake in shares of Advanced Micro Devices during the fourth quarter worth about $231,000. Pathway Financial Advisors LLC bought a new stake in shares of Advanced Micro Devices during the fourth quarter worth about $229,000. Independence Bank of Kentucky increased its position in shares of Advanced Micro Devices by 84.1% during the fourth quarter. Independence Bank of Kentucky now owns 3,671 shares of the semiconductor manufacturer’s stock worth $541,000 after acquiring an additional 1,677 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in Advanced Micro Devices during the fourth quarter worth about $1,759,000. 71.34% of the stock is owned by institutional investors.

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.