Wells Fargo & Company Issues Pessimistic Forecast for Advanced Micro Devices (NASDAQ:AMD) Stock Price

Advanced Micro Devices (NASDAQ:AMD) had its price objective lowered by Wells Fargo & Company from $205.00 to $165.00 in a research report report published on Monday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the semiconductor manufacturer’s stock.

AMD has been the subject of a number of other reports. UBS Group cut their price target on Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. TD Cowen reduced their target price on shares of Advanced Micro Devices from $185.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday. Citigroup lowered their price target on shares of Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Mizuho reduced their price objective on Advanced Micro Devices from $180.00 to $160.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Roth Mkm reissued a “buy” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research note on Friday, October 11th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Advanced Micro Devices has a consensus rating of “Moderate Buy” and a consensus target price of $182.44.

Advanced Micro Devices Price Performance

Shares of Advanced Micro Devices stock opened at $117.32 on Monday. The stock has a market capitalization of $190.39 billion, a price-to-earnings ratio of 105.69, a P/E/G ratio of 1.88 and a beta of 1.66. The firm’s 50-day moving average price is $132.11 and its two-hundred day moving average price is $146.27. 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 1-year low of $114.41 and a 1-year high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, hitting analysts’ consensus estimates of $0.92. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The business had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same period in the prior year, the company earned $0.53 EPS. Advanced Micro Devices’s revenue for the quarter was up 17.6% on a year-over-year basis. On average, equities analysts predict that Advanced Micro Devices will post 2.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Advanced Micro Devices news, CEO Lisa T. Su sold 76,496 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $142.66, for a total value of $10,912,919.36. Following the sale, the chief executive officer now owns 3,566,762 shares in the company, valued at approximately $508,834,266.92. The trade was a 2.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the transaction, the executive vice president now directly owns 293,347 shares of the company’s stock, valued at $41,558,469.49. This represents a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 197,036 shares of company stock worth $28,165,821. Company insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Creative Capital Management Investments LLC grew its holdings 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 in the last quarter. ZRC Wealth Management LLC grew its stake in Advanced Micro Devices by 90.4% in the third 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 in the last quarter. Global Wealth Strategies & Associates acquired a new position in shares of Advanced Micro Devices during the 4th quarter worth approximately $26,000. Fairway Wealth LLC bought a new stake in shares of Advanced Micro Devices during the 2nd quarter worth approximately $27,000. Finally, Abich Financial Wealth Management LLC boosted its holdings in shares of Advanced Micro Devices by 101.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 220 shares of the semiconductor manufacturer’s stock valued at $36,000 after buying an additional 111 shares during the last quarter. 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.