Advanced Micro Devices (NASDAQ:AMD) Price Target Cut to $140.00 by Analysts at KeyCorp

Advanced Micro Devices (NASDAQ:AMD) had its target price cut by KeyCorp from $150.00 to $140.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an overweight rating on the semiconductor manufacturer’s stock.

A number of other brokerages also recently issued reports on AMD. HSBC restated a “reduce” rating and issued a $110.00 price objective (down previously from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, January 8th. Mizuho dropped their price target on shares of Advanced Micro Devices from $180.00 to $160.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Wells Fargo & Company reduced their price objective on shares of Advanced Micro Devices from $205.00 to $165.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Benchmark reiterated a “buy” rating and set a $200.00 price target on shares of Advanced Micro Devices in a research report on Thursday, October 31st. Finally, Melius downgraded Advanced Micro Devices from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $160.00 to $129.00 in a research report on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Advanced Micro Devices has an average rating of “Moderate Buy” and an average target price of $161.30.

Advanced Micro Devices Stock Performance

AMD opened at $112.01 on Wednesday. The company has a market cap of $181.77 billion, a price-to-earnings ratio of 100.91, a PEG ratio of 1.03 and a beta of 1.66. The company’s fifty day moving average price is $125.02 and its two-hundred day moving average price is $140.59. Advanced Micro Devices has a 1-year low of $106.50 and a 1-year high of $227.30. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.19). Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. On average, analysts expect that Advanced Micro Devices will post 2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Lisa T. Su sold 76,496 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total value of $10,912,919.36. Following the completion of the transaction, the chief executive officer now directly owns 3,566,762 shares in the company, valued at $508,834,266.92. This trade represents a 2.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.65% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Advanced Micro Devices

A number of institutional investors and hedge funds have recently made changes to their positions in AMD. 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 valued at $11,513,538,000 after buying an additional 1,580,035 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Advanced Micro Devices by 1.3% in the third quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock worth $5,597,337,000 after acquiring an additional 441,924 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Advanced Micro Devices by 1.2% in the fourth quarter. Fisher Asset Management LLC now owns 24,086,020 shares of the semiconductor manufacturer’s stock worth $2,909,350,000 after acquiring an additional 290,784 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Advanced Micro Devices by 8.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,472,211 shares of the semiconductor manufacturer’s stock valued at $3,195,000,000 after acquiring an additional 1,565,083 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Advanced Micro Devices by 23.3% in the 4th quarter. Van ECK Associates Corp now owns 11,859,744 shares of the semiconductor manufacturer’s stock worth $1,432,538,000 after purchasing an additional 2,238,866 shares during the last quarter. Institutional investors own 71.34% of the company’s stock.

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.