Advanced Micro Devices (NASDAQ:AMD) Given New $165.00 Price Target at Wells Fargo & Company

Advanced Micro Devices (NASDAQ:AMD) had its target price cut by analysts at Wells Fargo & Company from $205.00 to $165.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the semiconductor manufacturer’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 41.90% from the stock’s previous close.

AMD has been the subject of a number of other research reports. Bank of America cut Advanced Micro Devices from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $180.00 to $155.00 in a report on Monday, December 9th. Piper Sandler reaffirmed an “overweight” rating and set a $180.00 price target (down from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Benchmark restated a “buy” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a research report on Thursday, October 31st. The Goldman Sachs Group lowered Advanced Micro Devices from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $175.00 to $129.00 in a research report on Friday. Finally, HSBC reiterated a “reduce” rating and issued a $110.00 price target (down previously from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Advanced Micro Devices has an average rating of “Moderate Buy” and a consensus target price of $182.44.

Advanced Micro Devices Stock Performance

NASDAQ:AMD traded up $0.24 during mid-day trading on Monday, hitting $116.28. The stock had a trading volume of 13,931,481 shares, compared to its average volume of 39,368,898. Advanced Micro Devices has a twelve month low of $114.41 and a twelve month high of $227.30. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50. The stock has a market cap of $188.70 billion, a price-to-earnings ratio of 104.76, a PEG ratio of 1.88 and a beta of 1.66. The company’s 50 day simple moving average is $132.58 and its 200 day simple moving average is $146.57.

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

Insider Activity at Advanced Micro Devices

In other news, EVP Forrest Eugene Norrod sold 40,540 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the sale, the executive vice president now owns 293,347 shares in the company, valued at approximately $41,558,469.49. The trade was a 12.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Lisa T. Su sold 80,000 shares of Advanced Micro Devices stock in a transaction dated Wednesday, November 6th. The shares were 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 directly owns 3,566,762 shares of the company’s stock, valued at approximately $513,150,048.94. This trade represents a 2.19 % 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 valued at $28,165,821. Corporate insiders own 0.73% of the company’s stock.

Institutional Trading of Advanced Micro Devices

A number of institutional investors have recently made changes to their positions in AMD. International Assets Investment Management LLC boosted its stake in shares of Advanced Micro Devices by 17,137.3% in the third quarter. International Assets Investment Management LLC now owns 7,860,909 shares of the semiconductor manufacturer’s stock worth $1,289,818,000 after acquiring an additional 7,815,305 shares during the period. Assenagon Asset Management S.A. lifted its stake in Advanced Micro Devices by 42.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock worth $1,381,679,000 after purchasing an additional 2,497,056 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Advanced Micro Devices during the 2nd quarter valued at about $296,178,000. State Street Corp grew its position in shares of 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 valued at $11,513,538,000 after purchasing an additional 1,580,035 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Advanced Micro Devices by 8.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,472,211 shares of the semiconductor manufacturer’s stock worth $3,195,000,000 after purchasing an additional 1,565,083 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Company Profile

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.