Advanced Micro Devices (NASDAQ:AMD) Price Target Cut to $150.00 by Analysts at KeyCorp

Advanced Micro Devices (NASDAQ:AMD) had its price objective lowered by equities research analysts at KeyCorp from $220.00 to $150.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the semiconductor manufacturer’s stock. KeyCorp’s target price indicates a potential upside of 25.04% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Hsbc Global Res downgraded shares of Advanced Micro Devices from a “strong-buy” rating to a “moderate sell” rating in a research note on Wednesday, January 8th. Benchmark reissued a “buy” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a report on Thursday, October 31st. Piper Sandler reaffirmed an “overweight” rating and set a $180.00 price objective (down from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Evercore ISI increased their price objective 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, Morgan Stanley dropped their price objective on Advanced Micro Devices from $169.00 to $158.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-two have assigned a buy rating and two have issued 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 a consensus target price of $179.68.

Advanced Micro Devices Stock Performance

Shares of AMD opened at $119.96 on Tuesday. The company’s 50 day moving average price is $131.60 and its 200 day moving average price is $145.95. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50. Advanced Micro Devices has a 52 week low of $114.41 and a 52 week high of $227.30. The company has a market capitalization of $194.67 billion, a PE ratio of 108.07, a PEG ratio of 1.88 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, meeting the consensus estimate of $0.92. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The company had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same period last year, the company earned $0.53 earnings per share. The business’s revenue was up 17.6% compared to the same quarter last year. Research analysts expect that Advanced Micro Devices will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 293,347 shares in the company, valued at approximately $41,558,469.49. This represents a 12.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Lisa T. Su sold 76,496 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $142.66, for a total transaction of $10,912,919.36. Following the transaction, the chief executive officer now owns 3,566,762 shares in the company, valued at approximately $508,834,266.92. The trade was a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 197,036 shares of company stock worth $28,165,821. 0.73% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Advanced Micro Devices

Several large investors have recently modified their holdings of AMD. Whitaker Myers Wealth Managers LTD. boosted its stake in Advanced Micro Devices by 16.7% in the 4th quarter. Whitaker Myers Wealth Managers LTD. now owns 3,197 shares of the semiconductor manufacturer’s stock valued at $386,000 after purchasing an additional 457 shares during the period. BNC Wealth Management LLC increased its holdings in shares of Advanced Micro Devices by 7.5% during the fourth quarter. BNC Wealth Management LLC now owns 48,308 shares of the semiconductor manufacturer’s stock worth $5,835,000 after buying an additional 3,352 shares in the last quarter. Wealth Alliance Advisory Group LLC boosted its stake in shares of Advanced Micro Devices by 42.9% during the fourth quarter. Wealth Alliance Advisory Group LLC now owns 10,034 shares of the semiconductor manufacturer’s stock valued at $1,212,000 after purchasing an additional 3,014 shares in the last quarter. Bowman & Co S.C. grew its holdings in Advanced Micro Devices by 4.3% during the 4th quarter. Bowman & Co S.C. now owns 9,498 shares of the semiconductor manufacturer’s stock worth $1,147,000 after acquiring an additional 389 shares during the last quarter. Finally, Moss Adams Wealth Advisors LLC raised its position in Advanced Micro Devices by 6.7% during the 4th quarter. Moss Adams Wealth Advisors LLC now owns 3,218 shares of the semiconductor manufacturer’s stock worth $389,000 after purchasing an additional 202 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.