Advanced Micro Devices (NASDAQ:AMD) Price Target Cut to $158.00 by Analysts at Morgan Stanley

Advanced Micro Devices (NASDAQ:AMD) had its price objective lowered by equities research analysts at Morgan Stanley from $169.00 to $158.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the semiconductor manufacturer’s stock. Morgan Stanley’s target price would suggest a potential upside of 30.75% from the company’s previous close.

Several other equities analysts have also recently commented on the stock. Piper Sandler restated an “overweight” rating and issued a $180.00 target price (down from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. Evercore ISI upped their price objective on Advanced Micro Devices from $193.00 to $198.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Bank of America cut shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $180.00 to $155.00 in a report on Monday, December 9th. UBS Group dropped their price objective on shares of Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Finally, Barclays dropped their price target on 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $191.96.

Advanced Micro Devices Stock Performance

Shares of AMD traded up $1.96 during mid-day trading on Friday, hitting $120.84. 24,533,494 shares of the company’s stock were exchanged, compared to its average volume of 53,618,066. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. The firm has a market cap of $196.10 billion, a price-to-earnings ratio of 108.86, a price-to-earnings-growth ratio of 1.88 and a beta of 1.65. The stock’s 50-day simple moving average is $142.98 and its 200-day simple moving average is $150.91. Advanced Micro Devices has a 52 week low of $117.90 and a 52 week high of $227.30.

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

Insider Buying and Selling

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

Institutional Investors Weigh In On Advanced Micro Devices

Several institutional investors have recently added to or reduced their stakes in the company. Creative Capital Management Investments LLC increased its holdings in shares of Advanced Micro Devices by 124.6% during the third quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 86 shares in the last quarter. ZRC Wealth Management LLC grew its position in Advanced Micro Devices by 90.4% in the 3rd quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 75 shares during the period. Fairway Wealth LLC purchased a new stake in Advanced Micro Devices during the second quarter valued at $27,000. Morton Brown Family Wealth LLC boosted its position in Advanced Micro Devices by 94.4% in 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 during the last quarter. Finally, Ridgewood Investments LLC bought a new stake in shares of Advanced Micro Devices during the 2nd quarter valued at about $35,000. 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.