Advanced Micro Devices (NASDAQ:AMD) Now Covered by Morgan Stanley

Investment analysts at Morgan Stanley started coverage on shares of Advanced Micro Devices (NASDAQ:AMDGet Rating) in a research report issued to clients and investors on Wednesday, MarketBeat reports. The firm set an “overweight” rating and a $103.00 price target on the semiconductor manufacturer’s stock. Morgan Stanley’s price target would suggest a potential upside of 24.95% from the stock’s previous close.

AMD has been the subject of several other research reports. Craig Hallum cut their price target on Advanced Micro Devices from $160.00 to $130.00 in a research note on Wednesday, May 4th. Deutsche Bank Aktiengesellschaft cut their price target on Advanced Micro Devices from $125.00 to $115.00 and set a “hold” rating for the company in a research note on Wednesday, April 20th. Susquehanna cut their price target on Advanced Micro Devices from $160.00 to $140.00 in a research note on Wednesday, May 4th. Piper Sandler upgraded Advanced Micro Devices from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $98.00 to $140.00 in a research note on Tuesday, May 17th. Finally, downgraded Advanced Micro Devices from a “buy” rating to a “hold” rating in a research note on Thursday, April 14th. Eleven investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $139.79.

NASDAQ AMD opened at $82.43 on Wednesday. The firm has a market capitalization of $133.58 billion, a P/E ratio of 30.64, a PEG ratio of 0.64 and a beta of 1.86. The business has a fifty day simple moving average of $93.10 and a 200 day simple moving average of $112.21. Advanced Micro Devices has a 12 month low of $79.43 and a 12 month high of $164.46. The company has a current ratio of 2.40, a quick ratio of 1.96 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMDGet Rating) last released its quarterly earnings results on Tuesday, May 3rd. The semiconductor manufacturer reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.19. Advanced Micro Devices had a return on equity of 20.66% and a net margin of 17.98%. The business had revenue of $5.89 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same period in the prior year, the firm posted $0.47 EPS. Advanced Micro Devices’s quarterly revenue was up 70.9% compared to the same quarter last year. As a group, sell-side analysts predict that Advanced Micro Devices will post 4.01 EPS for the current fiscal year.

In other news, Director John Edward Caldwell sold 10,000 shares of Advanced Micro Devices stock in a transaction that occurred on Friday, April 1st. The stock was sold at an average price of $109.28, for a total value of $1,092,800.00. Following the sale, the director now directly owns 4,672 shares in the company, valued at approximately $510,556.16. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Mark D. Papermaster sold 20,180 shares of Advanced Micro Devices stock in a transaction that occurred on Wednesday, March 30th. The shares were sold at an average price of $125.00, for a total value of $2,522,500.00. The disclosure for this sale can be found here. Insiders sold a total of 79,146 shares of company stock worth $8,560,700 over the last ninety days. Insiders own 1.00% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Advanced Micro Devices by 36.9% in the first quarter. Vanguard Group Inc. now owns 133,525,143 shares of the semiconductor manufacturer’s stock worth $14,599,640,000 after acquiring an additional 36,016,818 shares in the last quarter. BlackRock Inc. boosted its holdings in Advanced Micro Devices by 34.6% in the first quarter. BlackRock Inc. now owns 119,569,366 shares of the semiconductor manufacturer’s stock worth $13,073,716,000 after acquiring an additional 30,732,205 shares in the last quarter. State Street Corp boosted its holdings in Advanced Micro Devices by 37.5% in the first quarter. State Street Corp now owns 65,577,025 shares of the semiconductor manufacturer’s stock worth $7,170,192,000 after acquiring an additional 17,896,122 shares in the last quarter. Norges Bank bought a new stake in Advanced Micro Devices in the fourth quarter worth $1,423,132,000. Finally, Renaissance Technologies LLC bought a new stake in Advanced Micro Devices in the first quarter worth $777,111,000. Institutional investors own 69.61% of the company’s stock.

Advanced Micro Devices Company Profile (Get Rating)

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. The company operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. Its products include x86 microprocessors as an accelerated processing unit, chipsets, discrete and integrated graphics processing units (GPUs), data center and professional GPUs, and development services; and server and embedded processors, and semi-custom System-on-Chip (SoC) products, development services, and technology for game consoles.

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Analyst Recommendations for Advanced Micro Devices (NASDAQ:AMD)

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