Robert W. Baird Has Lowered Expectations for Advanced Micro Devices (NASDAQ:AMD) Stock Price

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) had its price target reduced by equities researchers at Robert W. Baird from $175.00 to $140.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an "outperform" rating on the semiconductor manufacturer's stock. Robert W. Baird's target price would indicate a potential upside of 36.13% from the company's current price.

Other equities analysts have also issued reports about the stock. Seaport Res Ptn raised shares of Advanced Micro Devices to a "strong-buy" rating in a research note on Wednesday, April 30th. Wolfe Research lowered Advanced Micro Devices from an "outperform" rating to a "peer perform" rating in a research report on Thursday, January 16th. Jefferies Financial Group downgraded Advanced Micro Devices from a "buy" rating to a "hold" rating and reduced their price target for the stock from $135.00 to $120.00 in a research report on Thursday, March 27th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $120.00 price objective on shares of Advanced Micro Devices in a report on Wednesday. Finally, Raymond James reissued an "outperform" rating and issued a $120.00 price objective (down previously from $150.00) on shares of Advanced Micro Devices in a research report on Wednesday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $131.13.

Advanced Micro Devices Trading Up 1.1 %

Advanced Micro Devices stock traded up $1.14 during mid-day trading on Wednesday, hitting $102.84. 31,640,225 shares of the company's stock were exchanged, compared to its average volume of 42,550,442. The company's 50 day simple moving average is $97.41 and its 200-day simple moving average is $116.40. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $166.22 billion, a P/E ratio of 103.88, a PEG ratio of 1.11 and a beta of 1.97. Advanced Micro Devices has a fifty-two week low of $76.48 and a fifty-two week high of $187.28.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. The business had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.10 billion. During the same period in the previous year, the firm earned $0.62 EPS. Advanced Micro Devices's quarterly revenue was up 35.9% compared to the same quarter last year. On average, equities analysts anticipate that Advanced Micro Devices will post 3.87 earnings per share for the current year.

Insider Buying and Selling at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,500 shares of the business's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total value of $1,670,725.00. Following the completion of the transaction, the executive vice president now owns 1,713,710 shares of the company's stock, valued at $163,607,893.70. The trade was a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.06% of the company's stock.

Hedge Funds Weigh In On Advanced Micro Devices

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Advanced Micro Devices during the 4th quarter worth $2,867,193,000. Goldman Sachs Group Inc. lifted its holdings in shares of Advanced Micro Devices by 169.7% in the first quarter. Goldman Sachs Group Inc. now owns 9,855,341 shares of the semiconductor manufacturer's stock worth $1,012,538,000 after acquiring an additional 6,200,850 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of Advanced Micro Devices by 443.3% in the 4th quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock valued at $660,475,000 after purchasing an additional 4,461,609 shares in the last quarter. Kovitz Investment Group Partners LLC grew its holdings in shares of Advanced Micro Devices by 2,265.5% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 3,017,294 shares of the semiconductor manufacturer's stock valued at $364,459,000 after purchasing an additional 2,889,739 shares during the last quarter. Finally, Northern Trust Corp increased its position in Advanced Micro Devices by 20.1% during the 4th quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer's stock worth $2,072,215,000 after purchasing an additional 2,874,012 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

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.