Advanced Micro Devices (NASDAQ:AMD) Price Target Cut to $165.00 by Analysts at Susquehanna

Advanced Micro Devices (NASDAQ:AMD) had its target price lowered by Susquehanna from $200.00 to $165.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a positive rating on the semiconductor manufacturer’s stock.

Several other research firms have also recently issued reports on AMD. UBS Group decreased their price target on Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. StockNews.com cut shares of Advanced Micro Devices from a “hold” rating to a “sell” rating in a research report on Tuesday, January 14th. Rosenblatt Securities restated a “buy” rating and issued a $250.00 price objective on shares of Advanced Micro Devices in a report on Monday, October 28th. Piper Sandler reaffirmed an “overweight” rating and issued a $180.00 price objective (down from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Finally, KeyCorp dropped their target price on shares of Advanced Micro Devices from $220.00 to $150.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Advanced Micro Devices has a consensus rating of “Moderate Buy” and a consensus target price of $169.77.

Advanced Micro Devices Price Performance

Shares of AMD stock opened at $115.95 on Wednesday. Advanced Micro Devices has a 1 year low of $112.80 and a 1 year high of $227.30. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. The firm’s 50 day moving average is $126.37 and its 200-day moving average is $141.93. The firm has a market capitalization of $188.16 billion, a price-to-earnings ratio of 104.46, a PEG ratio of 1.04 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.92. The firm had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.71 billion. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.53 EPS. Sell-side analysts forecast that Advanced Micro Devices will post 2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Lisa T. Su sold 80,000 shares of Advanced Micro Devices stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total value of $11,509,600.00. Following the sale, the chief executive officer now directly owns 3,566,762 shares in the company, valued at $513,150,048.94. This trade represents a 2.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction 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 owns 293,347 shares of the company’s stock, valued at $41,558,469.49. The trade was a 12.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 197,036 shares of company stock worth $28,165,821. Corporate insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

Several hedge funds have recently modified their holdings of AMD. Charles Schwab Investment Management Inc. grew its stake in Advanced Micro Devices by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 9,656,965 shares of the semiconductor manufacturer’s stock valued at $1,584,515,000 after purchasing an additional 177,700 shares in the last quarter. Swiss National Bank grew its stake in shares of Advanced Micro Devices by 0.3% in the third quarter. Swiss National Bank now owns 4,797,575 shares of the semiconductor manufacturer’s stock valued at $787,186,000 after buying an additional 12,500 shares in the last quarter. Shum Financial Group Inc. acquired a new position in Advanced Micro Devices during the third quarter worth $858,000. State Street Corp increased its holdings in Advanced Micro Devices by 2.3% during the third quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after buying an additional 1,580,035 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Advanced Micro Devices by 1.3% during the third quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock worth $5,597,337,000 after acquiring an additional 441,924 shares in 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.