Citigroup Issues Pessimistic Forecast for Advanced Micro Devices (NASDAQ:AMD) Stock Price

Advanced Micro Devices (NASDAQ:AMD) had its price objective cut by investment analysts at Citigroup from $110.00 to $100.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the semiconductor manufacturer’s stock. Citigroup’s target price suggests a potential upside of 7.07% from the company’s previous close.

AMD has been the topic of several other research reports. DZ Bank downgraded shares of Advanced Micro Devices from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a research note on Friday, February 7th. Wedbush restated an “outperform” rating and issued a $150.00 target price on shares of Advanced Micro Devices in a report on Wednesday, February 5th. Hsbc Global Res downgraded shares of Advanced Micro Devices from a “strong-buy” rating to a “moderate sell” rating in a report on Wednesday, January 8th. Summit Insights raised shares of Advanced Micro Devices to a “hold” rating in a research note on Tuesday, February 4th. Finally, Jefferies Financial Group cut Advanced Micro Devices from a “buy” rating to a “hold” rating and cut their target price for the company from $135.00 to $120.00 in a research note on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $148.76.

Advanced Micro Devices Price Performance

AMD stock traded up $4.70 during midday trading on Friday, hitting $93.40. The company’s stock had a trading volume of 57,812,332 shares, compared to its average volume of 43,570,640. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. Advanced Micro Devices has a 12 month low of $76.48 and a 12 month high of $187.28. The company has a 50 day moving average of $103.42 and a two-hundred day moving average of $126.29. The firm has a market capitalization of $150.96 billion, a price-to-earnings ratio of 94.34, a price-to-earnings-growth ratio of 1.11 and a beta of 1.89.

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

Insider Activity

In related news, EVP Philip Guido acquired 4,645 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were purchased at an average price of $107.56 per share, for a total transaction of $499,616.20. Following the completion of the acquisition, the executive vice president now directly owns 33,522 shares in the company, valued at $3,605,626.32. The trade was a 16.09 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AMD. Vanguard Group Inc. increased its position in shares of Advanced Micro Devices by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer’s stock valued at $18,143,884,000 after acquiring an additional 1,441,626 shares during the period. Geode Capital Management LLC increased its holdings in shares of Advanced Micro Devices by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 35,079,256 shares of the semiconductor manufacturer’s stock valued at $4,224,840,000 after purchasing an additional 835,413 shares during the period. Fisher Asset Management LLC raised its stake in shares of Advanced Micro Devices by 1.2% in the fourth quarter. Fisher Asset Management LLC now owns 24,086,020 shares of the semiconductor manufacturer’s stock worth $2,909,350,000 after purchasing an additional 290,784 shares during the last quarter. Norges Bank purchased a new position in shares of Advanced Micro Devices in the fourth quarter worth about $2,867,193,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Advanced Micro Devices by 9.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,401,436 shares of the semiconductor manufacturer’s stock worth $2,585,079,000 after purchasing an additional 1,929,225 shares during the period. Institutional investors and hedge funds own 71.34% of the company’s stock.

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.