Morgan Stanley Lowers Advanced Micro Devices (NASDAQ:AMD) Price Target to $158.00

Advanced Micro Devices (NASDAQ:AMD) had its price objective dropped by equities research analysts at Morgan Stanley from $169.00 to $158.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the semiconductor manufacturer’s stock. Morgan Stanley’s price target suggests a potential upside of 32.54% from the company’s previous close.

AMD has been the topic of a number of other research reports. Bank of America cut Advanced Micro Devices from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $180.00 to $155.00 in a research note on Monday, December 9th. Cantor Fitzgerald restated an “overweight” rating and set a $180.00 price target on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $180.00 price objective (down previously from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Citigroup dropped their price target on Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Finally, Roth Mkm reiterated a “buy” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a research note on Friday, October 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $191.96.

Advanced Micro Devices Stock Performance

AMD opened at $119.21 on Friday. Advanced Micro Devices has a 1-year low of $117.90 and a 1-year high of $227.30. The company has a market capitalization of $193.45 billion, a price-to-earnings ratio of 107.40, a price-to-earnings-growth ratio of 1.88 and a beta of 1.65. The business has a 50 day moving average price of $142.00 and a two-hundred day moving average price of $150.54. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, meeting the consensus estimate of $0.92. The business 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 7.52% and a return on equity of 6.62%. The business’s quarterly revenue was up 17.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.53 earnings per share. Research analysts predict that Advanced Micro Devices will post 2.54 EPS for the current fiscal year.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices 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 owns 293,347 shares of the company’s stock, valued at $41,558,469.49. This represents a 12.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Lisa T. Su sold 76,496 shares of Advanced Micro Devices stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $142.66, for a total value of $10,912,919.36. Following the sale, the chief executive officer now directly owns 3,566,762 shares in the company, valued at $508,834,266.92. The trade was a 2.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 197,036 shares of company stock worth $28,165,821 over the last three months. 0.73% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AMD. International Assets Investment Management LLC increased its holdings in shares of Advanced Micro Devices by 17,137.3% during the third quarter. International Assets Investment Management LLC now owns 7,860,909 shares of the semiconductor manufacturer’s stock worth $1,289,818,000 after buying an additional 7,815,305 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Advanced Micro Devices by 52.6% during the second quarter. Van ECK Associates Corp now owns 8,645,658 shares of the semiconductor manufacturer’s stock worth $1,402,412,000 after purchasing an additional 2,979,204 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Advanced Micro Devices by 42.2% in the third quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock valued at $1,381,679,000 after buying an additional 2,497,056 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Advanced Micro Devices in the second quarter valued at about $296,178,000. Finally, State Street Corp raised its holdings in shares of Advanced Micro Devices by 2.3% in the third quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock valued at $11,513,538,000 after buying an additional 1,580,035 shares during the last quarter. Institutional investors and hedge funds 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.