Wells Fargo & Company Has Lowered Expectations for Advanced Micro Devices (NASDAQ:AMD) Stock Price

Advanced Micro Devices (NASDAQ:AMD) had its price target cut by investment analysts at Wells Fargo & Company from $165.00 to $140.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the semiconductor manufacturer’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 30.76% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the stock. Hsbc Global Res downgraded shares of Advanced Micro Devices from a “strong-buy” rating to a “moderate sell” rating in a research note on Wednesday, January 8th. The Goldman Sachs Group cut shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and cut their price target for the stock from $175.00 to $129.00 in a report on Friday, January 10th. TD Cowen lowered their price objective on shares of Advanced Micro Devices from $185.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Loop Capital initiated coverage on shares of Advanced Micro Devices in a research report on Tuesday, January 14th. They issued a “buy” rating and a $175.00 price target on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $180.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and a consensus target price of $166.08.

Advanced Micro Devices Price Performance

Advanced Micro Devices stock traded down $12.44 during midday trading on Wednesday, reaching $107.06. The company’s stock had a trading volume of 35,009,284 shares, compared to its average volume of 39,560,703. Advanced Micro Devices has a 52 week low of $106.50 and a 52 week 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. The business has a 50-day moving average price of $125.02 and a 200-day moving average price of $140.59. The stock has a market cap of $173.74 billion, a PE ratio of 96.70, a price-to-earnings-growth ratio of 1.03 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly 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 return on equity of 6.62% and a net margin of 7.52%. On average, sell-side analysts predict that Advanced Micro Devices will post 2.54 EPS for the current year.

Insider Transactions 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 shares were sold at an average price of $142.66, for a total transaction of $10,912,919.36. Following the sale, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at approximately $508,834,266.92. The trade was a 2.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.65% of the company’s stock.

Institutional Trading of Advanced Micro Devices

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Creative Capital Management Investments LLC raised its position in Advanced Micro Devices by 124.6% in the third quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 86 shares during the period. Bear Mountain Capital Inc. purchased a new position in shares of Advanced Micro Devices in the 4th quarter valued at about $25,000. Global Wealth Strategies & Associates acquired a new position in Advanced Micro Devices during the 4th quarter worth approximately $26,000. FSA Wealth Management LLC acquired a new position in Advanced Micro Devices during the 3rd quarter worth approximately $41,000. Finally, Coston McIsaac & Partners boosted its position in shares of Advanced Micro Devices by 319.4% in the 3rd quarter. Coston McIsaac & Partners now owns 260 shares of the semiconductor manufacturer’s stock valued at $42,000 after purchasing an additional 198 shares during the period. Hedge funds and other institutional investors own 71.34% of the company’s stock.

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.