Advanced Micro Devices (NASDAQ:AMD) Price Target Cut to $177.00

Advanced Micro Devices (NASDAQ:AMD) had its target price dropped by equities research analysts at Morgan Stanley from $193.00 to $177.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the semiconductor manufacturer’s stock. Morgan Stanley’s price objective points to a potential upside of 11.06% from the company’s current price.

A number of other equities research analysts have also recently commented on AMD. KeyCorp increased their target price on Advanced Micro Devices from $195.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. Evercore ISI assumed coverage on Advanced Micro Devices in a report on Tuesday, April 16th. They set an “outperform” rating and a $200.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $190.00 price target on shares of Advanced Micro Devices in a report on Monday, March 4th. DZ Bank reaffirmed a “hold” rating and set a $200.00 price target on shares of Advanced Micro Devices in a report on Thursday, March 7th. Finally, Truist Financial upped their price target on Advanced Micro Devices from $154.00 to $174.00 and gave the company a “hold” rating in a report on Wednesday, January 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $184.68.

Advanced Micro Devices Trading Up 1.3 %

Shares of AMD traded up $1.97 during mid-day trading on Monday, hitting $159.37. 13,801,318 shares of the company’s stock traded hands, compared to its average volume of 72,030,477. The firm has a market capitalization of $257.56 billion, a P/E ratio of 305.72, a PEG ratio of 2.39 and a beta of 1.64. The business’s 50-day moving average price is $177.46 and its 200-day moving average price is $150.85. Advanced Micro Devices has a 1 year low of $81.02 and a 1 year high of $227.30. The company has a quick ratio of 1.86, a current ratio of 2.51 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $0.77 earnings per share for the quarter, hitting the consensus estimate of $0.77. Advanced Micro Devices had a return on equity of 5.73% and a net margin of 3.77%. The company had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.13 billion. During the same period in the prior year, the firm earned $0.54 earnings per share. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, sell-side analysts forecast that Advanced Micro Devices will post 2.64 EPS for the current fiscal year.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 16,200 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $164.25, for a total value of $2,660,850.00. Following the completion of the sale, the executive vice president now directly owns 1,554,602 shares of the company’s stock, valued at approximately $255,343,378.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Mark D. Papermaster sold 16,200 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $164.25, for a total transaction of $2,660,850.00. Following the completion of the sale, the executive vice president now directly owns 1,554,602 shares of the company’s stock, valued at approximately $255,343,378.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Darla M. Smith sold 1,678 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $188.66, for a total value of $316,571.48. Following the sale, the chief accounting officer now directly owns 4,209 shares of the company’s stock, valued at $794,069.94. The disclosure for this sale can be found here. Insiders sold 341,143 shares of company stock worth $62,580,844 in the last quarter. 0.65% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. HighMark Wealth Management LLC raised its position in shares of Advanced Micro Devices by 13.3% in the 1st quarter. HighMark Wealth Management LLC now owns 705 shares of the semiconductor manufacturer’s stock worth $133,000 after acquiring an additional 83 shares in the last quarter. Baxter Bros Inc. increased its position in Advanced Micro Devices by 18.8% during the 1st quarter. Baxter Bros Inc. now owns 2,132 shares of the semiconductor manufacturer’s stock valued at $385,000 after buying an additional 338 shares in the last quarter. Nadler Financial Group Inc. increased its position in Advanced Micro Devices by 29.5% during the 1st quarter. Nadler Financial Group Inc. now owns 3,556 shares of the semiconductor manufacturer’s stock valued at $642,000 after buying an additional 810 shares in the last quarter. NORTHSTAR ASSET MANAGEMENT Co LLC increased its holdings in shares of Advanced Micro Devices by 2.8% in the first quarter. NORTHSTAR ASSET MANAGEMENT Co LLC now owns 8,211 shares of the semiconductor manufacturer’s stock valued at $1,482,000 after purchasing an additional 225 shares during the period. Finally, Finer Wealth Management Inc. increased its holdings in shares of Advanced Micro Devices by 19.3% in the first quarter. Finer Wealth Management Inc. now owns 15,817 shares of the semiconductor manufacturer’s stock valued at $2,855,000 after purchasing an additional 2,561 shares during the period. 71.34% of the stock is owned by 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.