Advanced Micro Devices (NASDAQ:AMD) Given New $175.00 Price Target at Citigroup

Advanced Micro Devices (NASDAQ:AMD) had its price target decreased by research analysts at Citigroup from $200.00 to $175.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor manufacturer’s stock. Citigroup’s price target indicates a potential upside of 41.41% from the stock’s previous close.

AMD has been the topic of several other research reports. TD Cowen cut their price target on Advanced Micro Devices from $185.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Piper Sandler reiterated an “overweight” rating and issued a $180.00 price target (down previously from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. Hsbc Global Res downgraded shares of Advanced Micro Devices from a “strong-buy” rating to a “moderate sell” rating in a research report on Wednesday, January 8th. Wells Fargo & Company reduced their target price on shares of Advanced Micro Devices from $205.00 to $165.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Finally, The Goldman Sachs Group lowered Advanced Micro Devices from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $175.00 to $129.00 in a report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $177.71.

Advanced Micro Devices Stock Up 1.2 %

AMD stock opened at $123.75 on Tuesday. The stock has a market cap of $200.82 billion, a P/E ratio of 111.49, a PEG ratio of 1.07 and a beta of 1.66. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. Advanced Micro Devices has a twelve month low of $114.41 and a twelve month high of $227.30. The company’s 50 day moving average is $128.99 and its two-hundred day moving average is $144.41.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.92. The firm had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. Advanced Micro Devices’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.53 earnings per share. Research analysts expect that Advanced Micro Devices will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Advanced Micro Devices 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 completion of the sale, the executive vice president now owns 293,347 shares in the company, valued at $41,558,469.49. The trade was a 12.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Lisa T. Su sold 80,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the transaction, the chief executive officer now owns 3,566,762 shares in the company, valued at approximately $513,150,048.94. The trade was a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 197,036 shares of company stock worth $28,165,821 in the last ninety days. Insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

Institutional investors and hedge funds have recently bought and sold shares of the stock. Creative Capital Management Investments LLC boosted its position in shares of Advanced Micro Devices by 124.6% in the third quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 86 shares during the period. ZRC Wealth Management LLC lifted its position in Advanced Micro Devices by 90.4% during the 3rd quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 75 shares in the last quarter. Global Wealth Strategies & Associates purchased a new position in Advanced Micro Devices in the 4th quarter worth approximately $26,000. Abich Financial Wealth Management LLC grew its position in Advanced Micro Devices by 101.8% in the second quarter. Abich Financial Wealth Management LLC now owns 220 shares of the semiconductor manufacturer’s stock valued at $36,000 after acquiring an additional 111 shares in the last quarter. Finally, FSA Wealth Management LLC purchased a new stake in shares of Advanced Micro Devices during the third quarter valued at approximately $41,000. Institutional investors and hedge funds 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.