Advanced Micro Devices (NASDAQ:AMD) Price Target Cut to $158.00 by Analysts at Morgan Stanley

Advanced Micro Devices (NASDAQ:AMD) had its price target cut by research analysts at Morgan Stanley from $169.00 to $158.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the semiconductor manufacturer’s stock. Morgan Stanley’s price target would indicate a potential upside of 32.54% from the company’s previous close.

Several other equities research analysts also recently commented on the stock. UBS Group lowered their target price on shares of Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. TD Cowen dropped their price target on Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Barclays decreased their price objective on Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Evercore ISI raised their target price on shares of Advanced Micro Devices from $193.00 to $198.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $180.00 price target on shares of Advanced Micro Devices in a report on Wednesday, October 30th. 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, Advanced Micro Devices has an average rating of “Moderate Buy” and an average price target of $191.96.

Advanced Micro Devices Stock Up 0.3 %

Shares of NASDAQ:AMD opened at $119.21 on Friday. 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 stock has a market cap of $193.45 billion, a price-to-earnings ratio of 107.40, a P/E/G ratio of 1.88 and a beta of 1.65. The company has a 50 day moving average of $142.00 and a 200-day moving average of $150.54. Advanced Micro Devices has a one year low of $117.90 and a one year high of $227.30.

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

Insider Buying and Selling

In other 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 sale, the executive vice president now owns 293,347 shares in the company, valued at $41,558,469.49. The trade was a 12.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Lisa T. Su sold 80,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 3,566,762 shares in the company, valued at approximately $513,150,048.94. This trade represents a 2.19 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 197,036 shares of company stock valued at $28,165,821. Company insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

Institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its position in shares of Advanced Micro Devices by 1.9% during the 3rd 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 period. Swiss National Bank lifted its holdings in shares of Advanced Micro Devices by 0.3% in the third quarter. Swiss National Bank now owns 4,797,575 shares of the semiconductor manufacturer’s stock worth $787,186,000 after acquiring an additional 12,500 shares during the last quarter. Shum Financial Group Inc. acquired a new stake in shares of Advanced Micro Devices in the 3rd quarter valued at approximately $858,000. Geode Capital Management LLC boosted its stake in shares of Advanced Micro Devices by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock valued at $5,597,337,000 after purchasing an additional 441,924 shares in the last quarter. Finally, State Street Corp increased its position in Advanced Micro Devices by 2.3% during the 3rd quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after purchasing an additional 1,580,035 shares in the last quarter. 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.