Advanced Micro Devices (NASDAQ:AMD) Price Target Cut to $248.00 by Analysts at Citigroup

Key Points

• Citigroup cut its price target on AMD from $260 to $248 and kept a "neutral" rating, implying about a 12.6% upside from the prior close.
• AMD reported stronger-than-expected results, with $1.53 EPS vs. $1.32 expected and revenue of $10.27 billion (up 34.1% year-over-year).
• CEO Lisa T. Su sold 125,000 shares for roughly $26.8 million, and insiders sold about 239,392 shares (~$50.0 million) in the last quarter.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) had its target price cut by investment analysts at Citigroup from $260.00 to $248.00 in a report released on Monday,Benzinga reports. The firm presently has a "neutral" rating on the semiconductor manufacturer's stock. Citigroup's price objective points to a potential upside of 12.64% from the company's previous close.

A number of other analysts also recently issued reports on AMD. Wells Fargo & Company reaffirmed an "overweight" rating and set a $345.00 price target on shares of Advanced Micro Devices in a report on Friday, January 30th. Truist Financial set a $283.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, February 4th. KeyCorp reaffirmed an "overweight" rating and issued a $330.00 target price on shares of Advanced Micro Devices in a research note on Tuesday, February 24th. DA Davidson upgraded Advanced Micro Devices to a "hold" rating in a report on Friday, February 13th. Finally, TD Cowen restated a "buy" rating on shares of Advanced Micro Devices in a research note on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $290.19.

Advanced Micro Devices Trading Up 1.2%

Shares of AMD traded up $2.67 during trading hours on Monday, reaching $220.17. 25,199,745 shares of the company traded hands, compared to its average volume of 38,057,176. The firm has a market cap of $358.96 billion, a price-to-earnings ratio of 83.08, a PEG ratio of 0.82 and a beta of 1.96. The company has a current ratio of 2.85, a quick ratio of 2.01 and a debt-to-equity ratio of 0.04. Advanced Micro Devices has a 12-month low of $76.48 and a 12-month high of $267.08. The stock's fifty day moving average price is $209.87 and its 200 day moving average price is $215.26.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its earnings results on Tuesday, February 3rd. The semiconductor manufacturer reported $1.53 EPS for the quarter, topping analysts' consensus estimates of $1.32 by $0.21. The company had revenue of $10.27 billion during the quarter, compared to analysts' expectations of $9.65 billion. Advanced Micro Devices had a net margin of 12.52% and a return on equity of 8.84%. Advanced Micro Devices's revenue for the quarter was up 34.1% on a year-over-year basis. During the same period last year, the business earned $1.09 EPS. Sell-side analysts forecast 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, CEO Lisa T. Su sold 125,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $214.36, for a total transaction of $26,795,000.00. Following the completion of the sale, the chief executive officer directly owned 3,152,476 shares in the company, valued at approximately $675,764,755.36. This trade represents a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Ava Hahn sold 2,442 shares of the firm's stock in a transaction on Friday, January 16th. The shares were sold at an average price of $234.42, for a total transaction of $572,453.64. Following the transaction, the senior vice president owned 16,359 shares in the company, valued at $3,834,876.78. This represents a 12.99% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 239,392 shares of company stock worth $50,016,383. Company insiders own 0.06% of the company's stock.

Institutional Trading of Advanced Micro Devices

Institutional investors have recently bought and sold shares of the stock. Impax Asset Management Group plc boosted its position in Advanced Micro Devices by 326.5% in the third quarter. Impax Asset Management Group plc now owns 52,068 shares of the semiconductor manufacturer's stock valued at $8,424,000 after buying an additional 39,861 shares in the last quarter. Zweig DiMenna Associates LLC grew its position in Advanced Micro Devices by 127.6% during the 3rd quarter. Zweig DiMenna Associates LLC now owns 72,602 shares of the semiconductor manufacturer's stock worth $11,746,000 after acquiring an additional 40,708 shares during the last quarter. Wedbush Securities Inc. increased its holdings in Advanced Micro Devices by 7.8% in the 3rd quarter. Wedbush Securities Inc. now owns 84,256 shares of the semiconductor manufacturer's stock worth $13,632,000 after purchasing an additional 6,095 shares in the last quarter. Highline Wealth Partners LLC raised its position in Advanced Micro Devices by 4,891.6% in the fourth quarter. Highline Wealth Partners LLC now owns 8,286 shares of the semiconductor manufacturer's stock valued at $1,775,000 after purchasing an additional 8,120 shares during the last quarter. Finally, William Blair Investment Management LLC raised its position in Advanced Micro Devices by 72.5% in the third quarter. William Blair Investment Management LLC now owns 1,047,200 shares of the semiconductor manufacturer's stock valued at $169,426,000 after purchasing an additional 440,296 shares during the last quarter. Institutional investors and hedge funds own 71.34% of the company's stock.

About Advanced Micro Devices

Advanced Micro Devices, Inc NASDAQ: AMD is a global semiconductor company that designs and sells microprocessors, graphics processors, chipsets and adaptive computing solutions for a broad set of markets. The company's product portfolio includes consumer and commercial CPUs under the Ryzen and Threadripper brands, data center processors under the EPYC brand, and Radeon graphics processing units for gaming and professional visualization. AMD also offers semi-custom system-on-chip (SoC) products for gaming consoles and other specialized applications, and provides supporting software and platform technologies for OEMs, cloud service providers and end users.

Founded in 1969, AMD has evolved from a supplier of logic chips into a diversified, fabless semiconductor designer.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.