Barclays Has Lowered Expectations for Advanced Micro Devices (NASDAQ:AMD) Stock Price

Advanced Micro Devices (NASDAQ:AMD) had its target price reduced by research analysts at Barclays from $180.00 to $170.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the semiconductor manufacturer’s stock. Barclays‘s price target indicates a potential upside of 13.05% from the stock’s current price.

Several other research firms have also issued reports on AMD. Cantor Fitzgerald reiterated an “overweight” rating and issued a $180.00 target price on shares of Advanced Micro Devices in a research note on Monday, October 7th. Robert W. Baird reduced their price objective on shares of Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. BNP Paribas raised shares of Advanced Micro Devices to a “strong-buy” rating in a research report on Wednesday, July 31st. KeyCorp cut their price target on shares of Advanced Micro Devices from $230.00 to $220.00 and set an “overweight” rating on the stock in a report on Tuesday, July 9th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price objective on shares of Advanced Micro Devices in a research report on Monday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Advanced Micro Devices has a consensus rating of “Moderate Buy” and a consensus price target of $193.83.

Advanced Micro Devices Trading Down 9.6 %

NASDAQ:AMD traded down $15.88 during midday trading on Wednesday, hitting $150.37. The stock had a trading volume of 41,490,768 shares, compared to its average volume of 56,631,570. The stock has a 50-day moving average of $155.35 and a 200 day moving average of $156.08. The company has a market capitalization of $243.05 billion, a price-to-earnings ratio of 222.07, a PEG ratio of 2.33 and a beta of 1.70. Advanced Micro Devices has a one year low of $94.07 and a one year high of $227.30. The company has a quick ratio of 2.01, a current ratio of 2.82 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, meeting the consensus estimate of $0.92. Advanced Micro Devices had a return on equity of 5.98% and a net margin of 5.82%. The firm had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same quarter last year, the firm posted $0.53 earnings per share. The business’s revenue for the quarter was up 17.6% on a year-over-year basis. As a group, sell-side analysts forecast that Advanced Micro Devices will post 2.56 EPS for the current year.

Hedge Funds Weigh In On Advanced Micro Devices

A number of large investors have recently bought and sold shares of the business. Creative Capital Management Investments LLC increased its position in shares of Advanced Micro Devices by 124.6% in the third quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 86 shares in the last quarter. ZRC Wealth Management LLC grew its position in shares of Advanced Micro Devices by 90.4% in the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 75 shares during the period. Morton Brown Family Wealth LLC increased its stake in shares of Advanced Micro Devices by 94.4% during the second quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock worth $27,000 after purchasing an additional 85 shares in the last quarter. Fairway Wealth LLC acquired a new position in shares of Advanced Micro Devices during the 2nd quarter worth about $27,000. Finally, Semmax Financial Advisors Inc. lifted its stake in Advanced Micro Devices by 926.7% in the 1st quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer’s stock valued at $28,000 after buying an additional 139 shares in the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

About Advanced Micro Devices

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.