Truist Financial Lowers Advanced Micro Devices (NASDAQ:AMD) Price Target to $156.00

Advanced Micro Devices (NASDAQ:AMD) had its price objective reduced by Truist Financial from $162.00 to $156.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a hold rating on the semiconductor manufacturer’s stock.

A number of other equities analysts have also weighed in on AMD. KeyCorp lowered their price objective on shares of Advanced Micro Devices from $230.00 to $220.00 and set an overweight rating on the stock in a research report on Tuesday, July 9th. Jefferies Financial Group assumed coverage on shares of Advanced Micro Devices in a research report on Monday, May 13th. They issued a buy rating and a $190.00 price objective on the stock. Rosenblatt Securities reiterated a buy rating and issued a $250.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, May 1st. StockNews.com upgraded shares of Advanced Micro Devices from a sell rating to a hold rating in a research report on Thursday, July 18th. Finally, Cantor Fitzgerald boosted their target price on shares of Advanced Micro Devices from $170.00 to $200.00 and gave the stock an overweight rating in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-seven have issued a buy rating to the stock. According to MarketBeat, Advanced Micro Devices currently has an average rating of Moderate Buy and a consensus target price of $193.45.

Advanced Micro Devices Stock Performance

Shares of Advanced Micro Devices stock opened at $132.50 on Wednesday. The firm’s fifty day simple moving average is $160.41 and its 200-day simple moving average is $167.82. The stock has a market capitalization of $214.45 billion, a price-to-earnings ratio of 194.86, a PEG ratio of 1.79 and a beta of 1.69. Advanced Micro Devices has a 12 month low of $93.11 and a 12 month high of $227.30. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.82 and a quick ratio of 1.92.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 5.98%. The firm had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.72 billion. During the same period last year, the firm posted $0.40 EPS. Advanced Micro Devices’s quarterly revenue was up 8.9% on a year-over-year basis. As a group, equities analysts forecast that Advanced Micro Devices will post 2.58 earnings per share for the current year.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,756 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $184.50, for a total value of $3,091,482.00. Following the completion of the transaction, the executive vice president now owns 1,546,227 shares in the company, valued at approximately $285,278,881.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Mark D. Papermaster sold 16,756 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $184.50, for a total transaction of $3,091,482.00. Following the completion of the transaction, the executive vice president now directly owns 1,546,227 shares in the company, valued at approximately $285,278,881.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Mark D. Papermaster sold 16,200 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $158.94, for a total value of $2,574,828.00. Following the transaction, the executive vice president now owns 1,546,227 shares of the company’s stock, valued at $245,757,319.38. The disclosure for this sale can be found here. 0.73% of the stock is owned by company insiders.

Institutional Investors Weigh In On Advanced Micro Devices

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cherrydale Wealth Management LLC increased its position in Advanced Micro Devices by 4.7% in the second quarter. Cherrydale Wealth Management LLC now owns 1,305 shares of the semiconductor manufacturer’s stock worth $212,000 after buying an additional 58 shares during the period. Addison Advisors LLC increased its holdings in shares of Advanced Micro Devices by 41.9% during the fourth quarter. Addison Advisors LLC now owns 210 shares of the semiconductor manufacturer’s stock valued at $31,000 after purchasing an additional 62 shares during the period. Prentice Wealth Management LLC increased its holdings in shares of Advanced Micro Devices by 1.6% during the first quarter. Prentice Wealth Management LLC now owns 3,938 shares of the semiconductor manufacturer’s stock valued at $711,000 after purchasing an additional 62 shares during the period. Revolve Wealth Partners LLC increased its holdings in shares of Advanced Micro Devices by 0.9% during the first quarter. Revolve Wealth Partners LLC now owns 7,281 shares of the semiconductor manufacturer’s stock valued at $1,314,000 after purchasing an additional 63 shares during the period. Finally, Delta Financial Group Inc. increased its holdings in shares of Advanced Micro Devices by 5.0% during the second quarter. Delta Financial Group Inc. now owns 1,325 shares of the semiconductor manufacturer’s stock valued at $215,000 after purchasing an additional 63 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.