Advanced Micro Devices (NASDAQ:AMD) Price Target Lowered to $169.00 at Morgan Stanley

Advanced Micro Devices (NASDAQ:AMD) had its target price lowered by Morgan Stanley from $178.00 to $169.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has an equal weight rating on the semiconductor manufacturer’s stock.

A number of other brokerages also recently issued reports on AMD. Citigroup increased their price objective on Advanced Micro Devices from $176.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Robert W. Baird dropped their price target on Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Bank of America restated a “buy” rating and issued a $180.00 price objective on shares of Advanced Micro Devices in a research report on Thursday, October 3rd. Wedbush reiterated an “outperform” rating and set a $200.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, July 31st. Finally, Susquehanna reissued a “positive” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $192.79.

Advanced Micro Devices Stock Performance

Shares of AMD opened at $148.60 on Wednesday. Advanced Micro Devices has a 52-week low of $94.07 and a 52-week high of $227.30. The stock’s 50-day simple moving average is $155.17 and its 200 day simple moving average is $156.03. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.01 and a current ratio of 2.82. The stock has a market capitalization of $240.18 billion, a price-to-earnings ratio of 218.53, a price-to-earnings-growth ratio of 2.33 and a beta of 1.70.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, meeting analysts’ consensus estimates of $0.92. The company had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.71 billion. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 5.98%. Advanced Micro Devices’s revenue was up 17.6% compared to the same quarter last year. During the same period last year, the business earned $0.53 earnings per share. Research analysts forecast that Advanced Micro Devices will post 2.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Advanced Micro Devices

Hedge funds have recently made changes to their positions in the business. Maia Wealth LLC boosted its stake in shares of Advanced Micro Devices by 11.0% during the 3rd quarter. Maia Wealth LLC now owns 1,375 shares of the semiconductor manufacturer’s stock valued at $211,000 after purchasing an additional 136 shares in the last quarter. Centennial Wealth Advisory LLC bought a new stake in Advanced Micro Devices during the 3rd quarter valued at approximately $223,000. Umpqua Bank grew its holdings in shares of Advanced Micro Devices by 20.5% during the 3rd quarter. Umpqua Bank now owns 2,156 shares of the semiconductor manufacturer’s stock worth $354,000 after acquiring an additional 367 shares during the period. Harvest Portfolios Group Inc. raised its position in shares of Advanced Micro Devices by 4.4% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 146,445 shares of the semiconductor manufacturer’s stock worth $24,029,000 after acquiring an additional 6,168 shares in the last quarter. Finally, Invictus Private Wealth LLC lifted its stake in shares of Advanced Micro Devices by 93.3% in the 3rd quarter. Invictus Private Wealth LLC now owns 52,472 shares of the semiconductor manufacturer’s stock valued at $8,610,000 after purchasing an additional 25,333 shares during the period. 71.34% of the stock is owned by hedge funds and other institutional investors.

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.