Advanced Micro Devices (NASDAQ:AMD) Price Target Cut to $180.00 by Analysts at Mizuho

Advanced Micro Devices (NASDAQ:AMD) had its price target lowered by Mizuho from $185.00 to $180.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the semiconductor manufacturer’s stock. Mizuho’s target price would suggest a potential upside of 26.64% from the company’s current price.

Several other analysts have also recently weighed in on the company. Evercore ISI lifted their price target on Advanced Micro Devices from $193.00 to $198.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and set a $180.00 price objective (down previously from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. Citigroup cut their target price on Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $180.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Finally, TD Cowen reduced their target price on Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $191.59.

Advanced Micro Devices Stock Performance

Shares of NASDAQ:AMD traded down $1.86 during trading on Thursday, hitting $142.13. 16,559,956 shares of the stock were exchanged, compared to its average volume of 54,020,082. Advanced Micro Devices has a 1-year low of $116.38 and a 1-year high of $227.30. The company has a market capitalization of $230.65 billion, a price-to-earnings ratio of 128.05, a price-to-earnings-growth ratio of 1.96 and a beta of 1.65. The company’s fifty day simple moving average is $151.18 and its 200-day simple moving average is $153.66. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50.

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

Insider Activity

In related news, CEO Lisa T. Su sold 80,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the transaction, the chief executive officer now owns 3,566,762 shares in the company, valued at $513,150,048.94. This represents a 2.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the business’s stock in a transaction dated 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 sale, 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 disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

Hedge funds and other institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in Advanced Micro Devices by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 9,656,965 shares of the semiconductor manufacturer’s stock valued at $1,584,515,000 after acquiring an additional 177,700 shares during the last quarter. Swiss National Bank raised its position in shares of Advanced Micro Devices by 0.3% during the third quarter. Swiss National Bank now owns 4,797,575 shares of the semiconductor manufacturer’s stock worth $787,186,000 after purchasing an additional 12,500 shares during the period. Shum Financial Group Inc. purchased a new stake in Advanced Micro Devices in the 3rd quarter valued at $858,000. Harvest Portfolios Group Inc. raised its position in 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 valued at $24,029,000 after buying an additional 6,168 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Advanced Micro Devices by 30.2% in the 3rd quarter. Principal Financial Group Inc. now owns 2,537,968 shares of the semiconductor manufacturer’s stock valued at $416,430,000 after buying an additional 588,595 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.