Barclays Has Lowered Expectations for Advanced Micro Devices (NASDAQ:AMD) Stock Price

Advanced Micro Devices (NASDAQ:AMD) had its price target lowered by equities research analysts at Barclays from $180.00 to $170.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the semiconductor manufacturer’s stock. Barclays‘s price target suggests a potential upside of 18.00% from the stock’s previous close.

Several other brokerages also recently issued reports on AMD. BNP Paribas raised Advanced Micro Devices to a “strong-buy” rating in a research note on Wednesday, July 31st. Wedbush reissued an “outperform” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, July 31st. KeyCorp lowered their price objective on shares of Advanced Micro Devices from $230.00 to $220.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 9th. Rosenblatt Securities reissued a “buy” rating and set a $250.00 target price on shares of Advanced Micro Devices in a research note on Monday. Finally, Wells Fargo & Company upped their price target on shares of Advanced Micro Devices from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.79.

Advanced Micro Devices Stock Performance

Advanced Micro Devices stock opened at $144.07 on Wednesday. Advanced Micro Devices has a fifty-two week low of $94.07 and a fifty-two week high of $227.30. The firm’s 50 day simple moving average is $155.01 and its 200-day simple moving average is $155.94. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.82 and a quick ratio of 2.01. The company has a market cap of $232.86 billion, a P/E ratio of 211.87, a price-to-earnings-growth ratio of 2.33 and a beta of 1.70.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, hitting the consensus estimate of $0.92. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 5.98%. The firm had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same period in the previous year, the company posted $0.53 EPS. The company’s quarterly revenue was up 17.6% compared to the same quarter last year. As a group, equities research analysts predict that Advanced Micro Devices will post 2.56 EPS for the current year.

Hedge Funds Weigh In On Advanced Micro Devices

Several large investors have recently added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Advanced Micro Devices by 59.9% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 309,561 shares of the semiconductor manufacturer’s stock valued at $50,214,000 after purchasing an additional 116,020 shares in the last quarter. Wesbanco Bank Inc. raised its stake in shares of Advanced Micro Devices by 15.7% in the 3rd quarter. Wesbanco Bank Inc. now owns 155,558 shares of the semiconductor manufacturer’s stock valued at $25,524,000 after buying an additional 21,132 shares in the last quarter. St. Louis Financial Planners Asset Management LLC bought a new position in shares of Advanced Micro Devices during the 3rd quarter worth about $2,394,000. Sycomore Asset Management boosted its position in shares of Advanced Micro Devices by 28.6% during the 2nd quarter. Sycomore Asset Management now owns 137,883 shares of the semiconductor manufacturer’s stock valued at $21,722,000 after acquiring an additional 30,677 shares in the last quarter. Finally, Custom Index Systems LLC bought a new stake in Advanced Micro Devices in the third quarter valued at about $559,000. 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.