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

Advanced Micro Devices (NASDAQ:AMD) had its price target trimmed by Morgan Stanley from $169.00 to $158.00 in a report issued on Friday,Benzinga reports. The firm currently has an equal weight rating on the semiconductor manufacturer’s stock.

Several other research firms also recently weighed in on AMD. TD Cowen lowered their price target on shares of Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and set a $180.00 price target (down from $200.00) on shares of Advanced Micro Devices 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 cut their target price for the stock from $180.00 to $155.00 in a report on Monday, December 9th. Barclays dropped their price objective on Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Finally, Evercore ISI raised their price target on Advanced Micro Devices from $193.00 to $198.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. One investment 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 given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $191.96.

Advanced Micro Devices Trading Up 0.3 %

NASDAQ: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 stock’s fifty day moving average price is $142.00 and its two-hundred day moving average price is $150.61. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78. The company has a market cap of $193.45 billion, a P/E ratio of 107.40, a P/E/G ratio of 1.88 and a beta of 1.65.

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

Insider Buying and Selling at Advanced Micro Devices

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of the business’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 transaction of $5,743,301.80. Following the completion of the transaction, the executive vice president now directly owns 293,347 shares in the company, valued at approximately $41,558,469.49. The trade was a 12.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Lisa T. Su sold 80,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total value of $11,509,600.00. Following the completion of the sale, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at $513,150,048.94. The trade was a 2.19 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 197,036 shares of company stock valued at $28,165,821. 0.73% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMD. International Assets Investment Management LLC raised its position in shares of Advanced Micro Devices by 17,137.3% during the 3rd quarter. International Assets Investment Management LLC now owns 7,860,909 shares of the semiconductor manufacturer’s stock valued at $1,289,818,000 after buying an additional 7,815,305 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Advanced Micro Devices by 52.6% in the 2nd quarter. Van ECK Associates Corp now owns 8,645,658 shares of the semiconductor manufacturer’s stock valued at $1,402,412,000 after purchasing an additional 2,979,204 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Advanced Micro Devices by 42.2% during the 3rd 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 purchasing an additional 2,497,056 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Advanced Micro Devices during the second quarter worth $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 worth $11,513,538,000 after buying an additional 1,580,035 shares during the period. 71.34% of the stock is currently owned by institutional investors.

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.