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

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

Several other equities research analysts also recently issued reports on AMD. Barclays boosted their price objective on Advanced Micro Devices from $200.00 to $235.00 and gave the company an “overweight” rating in a report on Monday, March 4th. StockNews.com downgraded Advanced Micro Devices from a “hold” rating to a “sell” rating in a research note on Thursday. TD Cowen increased their target price on Advanced Micro Devices from $185.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Rosenblatt Securities reissued a “buy” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a research report on Tuesday, January 30th. Finally, Mizuho lifted their price target on Advanced Micro Devices from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. One equities research 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $184.68.

Advanced Micro Devices Stock Performance

NASDAQ:AMD traded up $1.97 on Monday, hitting $159.37. The stock had a trading volume of 13,801,318 shares, compared to its average volume of 72,030,477. The business’s 50-day simple moving average is $177.46 and its two-hundred day simple moving average is $150.85. 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 has a 52-week low of $81.02 and a 52-week high of $227.30. The stock has a market cap of $257.56 billion, a price-to-earnings ratio of 305.72, a price-to-earnings-growth ratio of 2.39 and a beta of 1.64.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, January 30th. The semiconductor manufacturer reported $0.77 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $6.13 billion. During the same quarter in the previous year, the business earned $0.54 EPS. Advanced Micro Devices’s revenue was up 10.2% compared to the same quarter last year. As a group, research analysts predict that Advanced Micro Devices will post 2.64 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Darla M. Smith sold 1,678 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $188.66, for a total transaction of $316,571.48. Following the sale, the chief accounting officer now directly owns 4,209 shares in the company, valued at approximately $794,069.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,200 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 1,554,602 shares in the company, valued at $255,343,378.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Darla M. Smith sold 1,678 shares of Advanced Micro Devices stock in a transaction dated 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 in the company, 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 over the last three months. 0.65% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. HighMark Wealth Management LLC increased its position in shares of Advanced Micro Devices by 13.3% during the first 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. lifted its stake in Advanced Micro Devices by 18.8% in the 1st quarter. Baxter Bros Inc. now owns 2,132 shares of the semiconductor manufacturer’s stock worth $385,000 after purchasing an additional 338 shares in the last quarter. Nadler Financial Group Inc. lifted its stake in Advanced Micro Devices by 29.5% in the 1st quarter. Nadler Financial Group Inc. now owns 3,556 shares of the semiconductor manufacturer’s stock worth $642,000 after purchasing 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 1st quarter. NORTHSTAR ASSET MANAGEMENT Co LLC now owns 8,211 shares of the semiconductor manufacturer’s stock worth $1,482,000 after buying an additional 225 shares during the last quarter. Finally, Finer Wealth Management Inc. grew its holdings in shares of Advanced Micro Devices by 19.3% during the 1st 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 last quarter. 71.34% of the stock is 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.