Wells Fargo & Company Lowers Advanced Micro Devices (NASDAQ:AMD) Price Target to $140.00

Advanced Micro Devices (NASDAQ:AMD) had its price objective reduced by Wells Fargo & Company from $165.00 to $140.00 in a report issued on Wednesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the semiconductor manufacturer’s stock.

Several other research analysts have also recently issued reports on AMD. Barclays cut their target price on Advanced Micro Devices from $170.00 to $140.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. HSBC reaffirmed a “reduce” rating and set a $110.00 price objective (down from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, January 8th. Loop Capital assumed coverage on shares of Advanced Micro Devices in a research report on Tuesday, January 14th. They set a “buy” rating and a $175.00 price target on the stock. Melius cut shares of Advanced Micro Devices from a “buy” rating to a “hold” rating and cut their price target for the stock from $160.00 to $129.00 in a report on Tuesday, January 28th. Finally, The Goldman Sachs Group lowered shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $175.00 to $129.00 in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Advanced Micro Devices currently has an average rating of “Moderate Buy” and a consensus price target of $161.30.

Advanced Micro Devices Stock Performance

AMD opened at $112.01 on Wednesday. The company has a market cap of $181.77 billion, a price-to-earnings ratio of 100.91, a PEG ratio of 1.03 and a beta of 1.66. The company’s fifty day moving average price is $125.02 and its two-hundred day moving average price is $140.59. Advanced Micro Devices has a 1-year low of $106.50 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.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.19). Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. On average, analysts expect that Advanced Micro Devices will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling at Advanced Micro Devices

In other news, CEO Lisa T. Su sold 76,496 shares of Advanced Micro Devices 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 directly owns 3,566,762 shares in the company, valued at approximately $508,834,266.92. This trade represents a 2.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.65% of the stock is currently owned by corporate insiders.

Institutional Trading of Advanced Micro Devices

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Creative Capital Management Investments LLC raised its holdings in 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 worth $25,000 after purchasing an additional 86 shares in the last quarter. Bear Mountain Capital Inc. purchased a new position in shares of Advanced Micro Devices during the fourth quarter valued at about $25,000. Global Wealth Strategies & Associates purchased a new position in shares of Advanced Micro Devices during the fourth quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC bought a new position in Advanced Micro Devices in the fourth quarter worth about $29,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in Advanced Micro Devices in the fourth quarter worth about $32,000. 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.