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

Advanced Micro Devices (NASDAQ:AMD) had its target price cut by Citigroup from $210.00 to $200.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the semiconductor manufacturer’s stock.

A number of other equities analysts also recently issued reports on the company. Roth Mkm reissued a “buy” rating and set a $200.00 price target on shares of Advanced Micro Devices in a research report on Friday, October 11th. Wells Fargo & Company increased their target price on shares of Advanced Micro Devices from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. BNP Paribas upgraded shares of Advanced Micro Devices to a “strong-buy” rating in a report on Wednesday, July 31st. Edward Jones started coverage on shares of Advanced Micro Devices in a research note on Tuesday, August 20th. They set a “buy” rating on the stock. Finally, Evercore ISI boosted their price objective on shares of Advanced Micro Devices from $193.00 to $198.00 and gave the stock an “outperform” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.79.

Advanced Micro Devices Trading Down 1.5 %

Shares of AMD opened at $141.86 on Wednesday. The firm has a market capitalization of $229.60 billion, a price-to-earnings ratio of 127.80, a PEG ratio of 2.03 and a beta of 1.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 2.01. Advanced Micro Devices has a 1-year low of $105.91 and a 1-year high of $227.30. The company has a 50-day moving average of $154.75 and a 200 day moving average of $155.81.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, meeting the consensus estimate of $0.92. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The firm had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter in the previous year, the firm posted $0.53 earnings per share. The company’s revenue was up 17.6% on a year-over-year basis. On average, research analysts expect that Advanced Micro Devices will post 2.56 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Advanced Micro Devices by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 144,794,666 shares of the semiconductor manufacturer’s stock worth $26,133,989,000 after buying an additional 2,349,288 shares during the period. Legal & General Group Plc boosted its holdings in shares of Advanced Micro Devices by 1.4% in the 2nd quarter. Legal & General Group Plc now owns 13,310,158 shares of the semiconductor manufacturer’s stock valued at $2,159,039,000 after acquiring an additional 188,580 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Advanced Micro Devices by 11.3% in the third quarter. Van ECK Associates Corp now owns 9,620,878 shares of the semiconductor manufacturer’s stock worth $1,471,128,000 after acquiring an additional 975,220 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Advanced Micro Devices by 42.2% during the third quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock worth $1,381,679,000 after purchasing an additional 2,497,056 shares during the last quarter. Finally, GQG Partners LLC lifted its position in Advanced Micro Devices by 5.0% during the first quarter. GQG Partners LLC now owns 8,044,462 shares of the semiconductor manufacturer’s stock valued at $1,451,945,000 after purchasing an additional 382,582 shares during the period. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

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.