Advanced Micro Devices (NASDAQ:AMD) PT Set at $8.00 by Citigroup

Advanced Micro Devices (NASDAQ:AMD) has been given a $8.00 price objective by research analysts at Citigroup in a research note issued on Wednesday, TipRanks reports. The firm presently has a “sell” rating on the semiconductor manufacturer’s stock. Citigroup‘s price objective indicates a potential downside of 72.83% from the company’s previous close.

A number of other research analysts also recently weighed in on the stock. MKM Partners raised their price target on shares of Advanced Micro Devices to $28.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Benchmark started coverage on shares of Advanced Micro Devices in a report on Thursday. They issued a “hold” rating on the stock. Jefferies Financial Group lifted their target price on shares of Advanced Micro Devices from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday. Credit Suisse Group set a $30.00 target price on shares of Advanced Micro Devices and gave the stock a “neutral” rating in a report on Wednesday. They noted that the move was a valuation call. Finally, Wells Fargo & Co restated a “buy” rating on shares of Advanced Micro Devices in a report on Wednesday. Two analysts have rated the stock with a sell rating, nineteen have given a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $31.08.

NASDAQ:AMD traded down $0.42 on Wednesday, reaching $29.44. The stock had a trading volume of 60,143,461 shares, compared to its average volume of 73,912,141. The company has a current ratio of 2.08, a quick ratio of 1.54 and a debt-to-equity ratio of 0.57. The stock’s 50-day moving average price is $31.77. The company has a market cap of $36.63 billion, a PE ratio of 84.11, a P/E/G ratio of 2.72 and a beta of 3.08. Advanced Micro Devices has a 12-month low of $16.03 and a 12-month high of $34.86.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08. Advanced Micro Devices had a net margin of 4.46% and a return on equity of 25.23%. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter last year, the company posted $0.14 earnings per share. The company’s quarterly revenue was down 12.8% compared to the same quarter last year. As a group, equities analysts predict that Advanced Micro Devices will post 0.54 EPS for the current fiscal year.

In other Advanced Micro Devices news, SVP Paul Darren Grasby sold 6,000 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $28.39, for a total value of $170,340.00. Following the transaction, the senior vice president now directly owns 22,979 shares in the company, valued at $652,373.81. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Lisa T. Su sold 250,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $26.75, for a total transaction of $6,687,500.00. Following the completion of the transaction, the chief executive officer now owns 2,511,264 shares in the company, valued at $67,176,312. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,045,137 shares of company stock worth $31,793,994. 1.50% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. Employers Holdings Inc. bought a new stake in shares of Advanced Micro Devices during the second quarter worth approximately $76,000. Parkside Investments LLC bought a new stake in shares of Advanced Micro Devices during the second quarter worth approximately $456,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Advanced Micro Devices during the second quarter worth approximately $1,294,000. Envestnet Asset Management Inc. raised its stake in shares of Advanced Micro Devices by 38.0% during the second quarter. Envestnet Asset Management Inc. now owns 25,909 shares of the semiconductor manufacturer’s stock worth $787,000 after buying an additional 7,138 shares during the last quarter. Finally, Sigma Planning Corp raised its stake in shares of Advanced Micro Devices by 24.7% during the second quarter. Sigma Planning Corp now owns 31,647 shares of the semiconductor manufacturer’s stock worth $961,000 after buying an additional 6,273 shares during the last quarter. Hedge funds and other institutional investors own 60.98% of the company’s stock.

Advanced Micro Devices Company Profile

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. The company operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. Its products include x86 microprocessors as an accelerated processing unit (APU), chipsets, discrete and integrated graphics processing units (GPUs), and professional GPUs; and server and embedded processors, and semi-custom System-on-Chip (SoC) products and technology for game consoles.

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Analyst Recommendations for Advanced Micro Devices (NASDAQ:AMD)

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