Truist Financial Cuts Advanced Micro Devices (NASDAQ:AMD) Price Target to $277.00

Advanced Micro Devices (NASDAQ:AMD) had its price objective decreased by research analysts at Truist Financial from $279.00 to $277.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor manufacturer’s stock. Truist Financial’s price target indicates a potential upside of 37.77% from the stock’s current price.

AMD has been the topic of a number of other reports. Susquehanna reaffirmed a “positive” rating and set a $300.00 price objective on shares of Advanced Micro Devices in a report on Friday, October 31st. The Goldman Sachs Group boosted their price target on shares of Advanced Micro Devices from $150.00 to $210.00 and gave the stock a “neutral” rating in a report on Wednesday, October 8th. Jefferies Financial Group set a $300.00 price objective on shares of Advanced Micro Devices and gave the company a “positive” rating in a research note on Monday, October 6th. Dbs Bank raised shares of Advanced Micro Devices from a “hold” rating to a “moderate buy” rating in a research report on Monday, October 6th. Finally, Barclays restated an “overweight” rating on shares of Advanced Micro Devices in a research note on Wednesday, November 12th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $277.06.

Advanced Micro Devices Trading Up 1.5%

AMD opened at $201.06 on Friday. Advanced Micro Devices has a fifty-two week low of $76.48 and a fifty-two week high of $267.08. The firm has a market capitalization of $327.33 billion, a PE ratio of 99.54, a P/E/G ratio of 1.47 and a beta of 1.93. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.31 and a quick ratio of 1.68. The company’s 50-day moving average is $229.76 and its 200 day moving average is $181.65.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, November 4th. The semiconductor manufacturer reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.03. Advanced Micro Devices had a return on equity of 8.04% and a net margin of 10.32%.The business had revenue of $9.25 billion during the quarter, compared to the consensus estimate of $8.76 billion. During the same quarter in the previous year, the business earned $0.92 EPS. The company’s quarterly revenue was up 35.6% on a year-over-year basis. As a group, research analysts predict that Advanced Micro Devices will post 3.87 earnings per share for the current fiscal year.

Insider Transactions at Advanced Micro Devices

In other news, SVP Ava Hahn sold 2,868 shares of the business’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $226.01, for a total value of $648,196.68. Following the sale, the senior vice president owned 9,033 shares of the company’s stock, valued at $2,041,548.33. The trade was a 24.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Lisa T. Su sold 125,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $215.14, for a total transaction of $26,892,500.00. Following the completion of the transaction, the chief executive officer directly owned 3,277,476 shares of the company’s stock, valued at approximately $705,116,186.64. This trade represents a 3.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 183,476 shares of company stock worth $40,249,093 over the last quarter. 0.06% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Advanced Micro Devices

A number of institutional investors and hedge funds have recently modified their holdings of AMD. Vanguard Group Inc. lifted its stake in Advanced Micro Devices by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 155,997,751 shares of the semiconductor manufacturer’s stock worth $25,238,876,000 after purchasing an additional 1,348,892 shares in the last quarter. State Street Corp increased its holdings in shares of Advanced Micro Devices by 2.4% in the third quarter. State Street Corp now owns 73,824,441 shares of the semiconductor manufacturer’s stock worth $11,944,056,000 after purchasing an additional 1,755,182 shares during the period. Geode Capital Management LLC raised its position in shares of Advanced Micro Devices by 1.4% in the second quarter. Geode Capital Management LLC now owns 36,690,685 shares of the semiconductor manufacturer’s stock worth $5,181,556,000 after buying an additional 514,445 shares in the last quarter. Norges Bank bought a new stake in Advanced Micro Devices during the second quarter valued at $3,094,662,000. Finally, Amundi grew its position in Advanced Micro Devices by 8.0% during the first quarter. Amundi now owns 17,829,010 shares of the semiconductor manufacturer’s stock worth $1,677,014,000 after buying an additional 1,319,064 shares in the last quarter. 71.34% of the stock is owned by hedge funds and other institutional investors.

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.