Wells Fargo & Company Issues Pessimistic Forecast for Advanced Micro Devices (NASDAQ:AMD) Stock Price

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) had its target price dropped by stock analysts at Wells Fargo & Company from $205.00 to $165.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an "overweight" rating on the semiconductor manufacturer's stock. Wells Fargo & Company's price objective indicates a potential upside of 40.64% from the stock's current price.

Several other brokerages have also recently commented on AMD. Cantor Fitzgerald reiterated an "overweight" rating and set a $180.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. HSBC reiterated a "reduce" rating and issued a $110.00 target price (down from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, January 8th. Barclays dropped their price objective on shares of Advanced Micro Devices from $180.00 to $170.00 and set an "overweight" rating for the company in a research note on Wednesday, October 30th. Rosenblatt Securities reissued a "buy" rating and issued a $250.00 target price on shares of Advanced Micro Devices in a research note on Monday, October 28th. Finally, Morgan Stanley dropped their price target on Advanced Micro Devices from $169.00 to $158.00 and set an "equal weight" rating for the company in a research report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $182.44.

Advanced Micro Devices Stock Performance

AMD stock traded up $1.28 during trading on Monday, hitting $117.32. 38,920,007 shares of the company traded hands, compared to its average volume of 43,326,656. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78. Advanced Micro Devices has a 1 year low of $114.41 and a 1 year high of $227.30. The stock's 50-day simple moving average is $132.11 and its 200 day simple moving average is $146.27. The company has a market cap of $190.39 billion, a PE ratio of 105.69, a P/E/G ratio of 1.88 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.92. The firm had revenue of $6.82 billion during the quarter, compared to analysts' expectations of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The business's revenue was up 17.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.53 EPS. On average, equities analysts expect that Advanced Micro Devices will post 2.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Lisa T. Su sold 76,496 shares of the business's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $142.66, for a total transaction of $10,912,919.36. Following the completion of the transaction, the chief executive officer now directly owns 3,566,762 shares of the company's stock, valued at approximately $508,834,266.92. The trade was a 2.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the firm's stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the completion of the sale, the executive vice president now directly owns 293,347 shares in the company, valued at approximately $41,558,469.49. This trade represents a 12.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 197,036 shares of company stock worth $28,165,821 over the last 90 days. Corporate insiders own 0.73% of the company's stock.

Hedge Funds Weigh In On Advanced Micro Devices

Several large investors have recently bought and sold shares of AMD. International Assets Investment Management LLC increased its stake in Advanced Micro Devices by 17,137.3% in the third quarter. International Assets Investment Management LLC now owns 7,860,909 shares of the semiconductor manufacturer's stock valued at $1,289,818,000 after purchasing an additional 7,815,305 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Advanced Micro Devices by 42.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer's stock worth $1,381,679,000 after acquiring an additional 2,497,056 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Advanced Micro Devices in the second quarter valued at $296,178,000. State Street Corp boosted its stake in Advanced Micro Devices by 2.3% in the third quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer's stock valued at $11,513,538,000 after acquiring an additional 1,580,035 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Advanced Micro Devices by 8.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,472,211 shares of the semiconductor manufacturer's stock worth $3,195,000,000 after purchasing an additional 1,565,083 shares during the last quarter. Hedge funds and other institutional investors 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.