Advanced Micro Devices (NASDAQ:AMD) Given New $135.00 Price Target at Bank of America

Advanced Micro Devices (NASDAQ:AMD) had its price target cut by Bank of America from $155.00 to $135.00 in a research report released on Wednesday,Benzinga reports. They currently have a neutral rating on the semiconductor manufacturer’s stock.

Other analysts have also issued reports about the stock. Barclays lowered their price objective on shares of Advanced Micro Devices from $170.00 to $140.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Benchmark reiterated a “buy” rating and set a $200.00 price target on shares of Advanced Micro Devices in a report on Thursday, October 31st. Evercore ISI lifted their target price on Advanced Micro Devices from $193.00 to $198.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Citigroup reduced their price target on shares of Advanced Micro Devices from $200.00 to $175.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Finally, Hsbc Global Res downgraded Advanced Micro Devices from a “strong-buy” rating to a “moderate sell” rating in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $161.30.

Advanced Micro Devices Price Performance

AMD opened at $112.01 on Wednesday. The stock has a market capitalization of $181.77 billion, a P/E ratio of 100.91, a PEG ratio of 1.03 and a beta of 1.66. The stock has a 50-day moving average price of $125.02 and a 200-day moving average price of $140.59. 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 12-month low of $106.50 and a 12-month high of $227.30.

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

Insider Activity

In related news, CEO Lisa T. Su sold 76,496 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total transaction of $10,912,919.36. Following the completion of the transaction, the chief executive officer now owns 3,566,762 shares in the company, valued at $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 available through this link. Insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

Large investors have recently made changes to their positions in the business. State Street Corp increased its position in Advanced Micro Devices by 2.3% during the 3rd quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock valued at $11,513,538,000 after buying an additional 1,580,035 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Advanced Micro Devices by 1.3% in 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 during the period. Fisher Asset Management LLC grew its position in shares of Advanced Micro Devices by 1.2% during the 4th quarter. Fisher Asset Management LLC now owns 24,086,020 shares of the semiconductor manufacturer’s stock valued at $2,909,350,000 after acquiring an additional 290,784 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Advanced Micro Devices by 8.7% during the 3rd 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 valued at $3,195,000,000 after acquiring an additional 1,565,083 shares during the period. Finally, Van ECK Associates Corp grew its holdings in Advanced Micro Devices by 23.3% in the fourth quarter. Van ECK Associates Corp now owns 11,859,744 shares of the semiconductor manufacturer’s stock valued at $1,432,538,000 after purchasing an additional 2,238,866 shares during the period. 71.34% of the stock is owned by institutional investors and hedge funds.

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.