Wells Fargo & Company Cuts Advanced Micro Devices (NASDAQ:AMD) Price Target to $120.00

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) had its price target cut by equities research analysts at Wells Fargo & Company from $140.00 to $120.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the semiconductor manufacturer's stock. Wells Fargo & Company's price target suggests a potential upside of 36.74% from the company's current price.

Several other brokerages also recently commented on AMD. Susquehanna lowered their price objective on shares of Advanced Micro Devices from $165.00 to $150.00 and set a "positive" rating for the company in a research report on Wednesday, February 5th. Morgan Stanley set a $137.00 price target on shares of Advanced Micro Devices in a report on Wednesday, February 5th. StockNews.com lowered shares of Advanced Micro Devices from a "hold" rating to a "sell" rating in a research report on Wednesday, March 26th. Barclays dropped their price target on Advanced Micro Devices from $170.00 to $140.00 and set an "overweight" rating for the company in a research note on Friday, January 17th. Finally, Summit Insights raised Advanced Micro Devices to a "hold" rating in a research note on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $145.59.

Advanced Micro Devices Stock Down 0.6 %

AMD traded down $0.54 during trading on Thursday, reaching $87.76. 16,199,589 shares of the stock were exchanged, compared to its average volume of 43,229,792. Advanced Micro Devices has a twelve month low of $76.48 and a twelve month high of $187.28. The stock has a market cap of $141.84 billion, a P/E ratio of 88.64, a price-to-earnings-growth ratio of 1.11 and a beta of 1.89. The stock's 50 day moving average price is $101.86 and its two-hundred day moving average price is $124.57. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 earnings per share for the quarter, hitting analysts' consensus estimates of $1.07. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. Equities analysts expect that Advanced Micro Devices will post 3.87 EPS for the current year.

Insider Activity at Advanced Micro Devices

In related news, EVP Philip Guido bought 4,645 shares of the stock in a transaction dated Friday, February 7th. The shares were purchased at an average price of $107.56 per share, with a total value of $499,616.20. Following the completion of the acquisition, the executive vice president now owns 33,522 shares of the company's stock, valued at $3,605,626.32. This represents a 16.09 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.73% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Advanced Micro Devices

A number of institutional investors and hedge funds have recently made changes to their positions in AMD. KLP Kapitalforvaltning AS bought a new position in shares of Advanced Micro Devices in the fourth quarter worth about $65,897,000. Enzi Wealth purchased a new position in shares of Advanced Micro Devices during the fourth quarter worth approximately $569,000. Welch Group LLC raised its stake in shares of Advanced Micro Devices by 6.3% during the fourth quarter. Welch Group LLC now owns 50,466 shares of the semiconductor manufacturer's stock valued at $6,179,000 after acquiring an additional 2,981 shares in the last quarter. Stonegate Investment Group LLC grew its stake in Advanced Micro Devices by 39.5% in the fourth quarter. Stonegate Investment Group LLC now owns 512,428 shares of the semiconductor manufacturer's stock worth $61,896,000 after purchasing an additional 145,067 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in Advanced Micro Devices by 19.8% during the 4th quarter. Nordea Investment Management AB now owns 1,748,872 shares of the semiconductor manufacturer's stock worth $212,943,000 after purchasing an additional 289,110 shares during the period. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.