Truist Financial Cuts Advanced Micro Devices (NASDAQ:AMD) Price Target to $162.00

Advanced Micro Devices (NASDAQ:AMD) had its price target reduced by Truist Financial from $174.00 to $162.00 in a research note published on Wednesday, Benzinga reports. They currently have a hold rating on the semiconductor manufacturer’s stock.

A number of other brokerages also recently commented on AMD. New Street Research upgraded shares of Advanced Micro Devices from a neutral rating to a buy rating and set a $215.00 price objective for the company in a research report on Wednesday, January 24th. Melius Research raised Advanced Micro Devices from a hold rating to a buy rating and set a $188.00 price objective on the stock in a report on Monday, January 8th. HSBC upgraded shares of Advanced Micro Devices from a hold rating to a buy rating and boosted their target price for the stock from $180.00 to $225.00 in a research report on Tuesday, April 16th. Morgan Stanley cut their price target on shares of Advanced Micro Devices from $193.00 to $177.00 and set an overweight rating for the company in a report on Monday, April 29th. Finally, Barclays boosted their price objective on shares of Advanced Micro Devices from $200.00 to $235.00 and gave the stock an overweight rating in a report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $184.24.

Advanced Micro Devices Stock Performance

NASDAQ AMD opened at $150.60 on Wednesday. Advanced Micro Devices has a 52-week low of $81.11 and a 52-week high of $227.30. The business’s 50-day moving average price is $175.41 and its 200 day moving average price is $151.81. The company has a quick ratio of 1.86, a current ratio of 2.64 and a debt-to-equity ratio of 0.03. The firm has a market cap of $243.42 billion, a P/E ratio of 221.47, a P/E/G ratio of 2.29 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.01. The firm had revenue of $5.47 billion during the quarter, compared to the consensus estimate of $5.48 billion. Advanced Micro Devices had a return on equity of 5.72% and a net margin of 4.89%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period last year, the company earned $0.43 earnings per share. On average, equities research analysts expect that Advanced Micro Devices will post 2.59 earnings per share for the current year.

Insider Buying and Selling at Advanced Micro Devices

In related news, Director Joseph A. Householder sold 6,572 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $208.08, for a total transaction of $1,367,501.76. Following the transaction, the director now owns 2,197 shares of the company’s stock, valued at $457,151.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,200 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $164.25, for a total value of $2,660,850.00. Following the sale, the executive vice president now directly owns 1,554,602 shares of the company’s stock, valued at approximately $255,343,378.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Joseph A. Householder sold 6,572 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $208.08, for a total transaction of $1,367,501.76. Following the transaction, the director now directly owns 2,197 shares of the company’s stock, valued at approximately $457,151.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 181,850 shares of company stock worth $34,637,833. Corporate insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

Several hedge funds have recently modified their holdings of the stock. Csenge Advisory Group raised its position in shares of Advanced Micro Devices by 12.2% in the 1st quarter. Csenge Advisory Group now owns 8,268 shares of the semiconductor manufacturer’s stock worth $1,492,000 after buying an additional 898 shares during the period. Richardson Financial Services Inc. purchased a new position in shares of Advanced Micro Devices in the 1st quarter worth about $64,000. Signaturefd LLC lifted its stake in shares of Advanced Micro Devices by 9.3% in the 1st quarter. Signaturefd LLC now owns 29,643 shares of the semiconductor manufacturer’s stock valued at $5,350,000 after purchasing an additional 2,513 shares in the last quarter. CV Advisors LLC grew its holdings in shares of Advanced Micro Devices by 817.3% during the 1st quarter. CV Advisors LLC now owns 15,245 shares of the semiconductor manufacturer’s stock worth $2,752,000 after purchasing an additional 13,583 shares during the period. Finally, Catalina Capital Group LLC increased its position in Advanced Micro Devices by 131.4% during the 1st quarter. Catalina Capital Group LLC now owns 6,690 shares of the semiconductor manufacturer’s stock worth $1,207,000 after purchasing an additional 3,799 shares in the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

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.