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.
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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