Advanced Micro Devices (NASDAQ:AMD) Given New $170.00 Price Target at Benchmark

Advanced Micro Devices (NASDAQ:AMD) had its price target cut by investment analysts at Benchmark from $200.00 to $170.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor manufacturer’s stock. Benchmark’s target price would indicate a potential upside of 42.26% from the company’s previous close.

AMD has been the topic of several other research reports. Bank of America cut their price objective on Advanced Micro Devices from $155.00 to $135.00 and set a “neutral” rating on the stock in a report on Wednesday. Wells Fargo & Company lowered their target price on Advanced Micro Devices from $205.00 to $165.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Citigroup dropped their price target on shares of Advanced Micro Devices from $200.00 to $175.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. KeyCorp reduced their target price on Advanced Micro Devices from $150.00 to $140.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Piper Sandler restated an “overweight” rating and set a $180.00 price target (down from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $167.04.

Advanced Micro Devices Stock Performance

NASDAQ:AMD opened at $119.50 on Wednesday. The company has a 50-day moving average of $125.02 and a 200-day moving average of $140.59. The firm has a market cap of $193.93 billion, a price-to-earnings ratio of 107.66, a price-to-earnings-growth ratio of 1.03 and a beta of 1.66. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. Advanced Micro Devices has a twelve month low of $112.80 and a twelve month high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.19). Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. Analysts forecast that Advanced Micro Devices will post 2.54 earnings per share for the current fiscal year.

Insider Activity at Advanced Micro Devices

In other Advanced Micro Devices news, CEO Lisa T. Su sold 76,496 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $142.66, for a total value of $10,912,919.36. Following the completion of the sale, the chief executive officer now owns 3,566,762 shares in the company, valued at approximately $508,834,266.92. This trade represents a 2.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.65% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Advanced Micro Devices

Institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in Advanced Micro Devices by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,656,965 shares of the semiconductor manufacturer’s stock valued at $1,584,515,000 after buying an additional 177,700 shares during the last quarter. Swiss National Bank lifted its position in shares of Advanced Micro Devices by 0.3% during the 3rd quarter. Swiss National Bank now owns 4,797,575 shares of the semiconductor manufacturer’s stock valued at $787,186,000 after buying an additional 12,500 shares in the last quarter. Shum Financial Group Inc. bought a new position in shares of Advanced Micro Devices in the third quarter worth approximately $858,000. State Street Corp increased its stake in Advanced Micro Devices by 2.3% in the 3rd quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after buying an additional 1,580,035 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Advanced Micro Devices by 1.3% during the third quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock worth $5,597,337,000 after purchasing an additional 441,924 shares in the last quarter. 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.