Morgan Stanley Cuts Advanced Micro Devices (NASDAQ:AMD) Price Target to $121.00

Advanced Micro Devices (NASDAQ:AMD) had its price target cut by Morgan Stanley from $137.00 to $121.00 in a research report report published on Wednesday,Benzinga reports. They currently have an equal weight rating on the semiconductor manufacturer’s stock.

Other analysts have also issued reports about the stock. Citigroup restated a “buy” rating on shares of Advanced Micro Devices in a report on Wednesday, April 16th. Rosenblatt Securities reissued a “buy” rating and set a $200.00 price target on shares of Advanced Micro Devices in a research report on Wednesday. Sanford C. Bernstein dropped their price target on Advanced Micro Devices from $125.00 to $95.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 22nd. TD Cowen boosted their target price on Advanced Micro Devices from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Mizuho dropped their price target on shares of Advanced Micro Devices from $140.00 to $120.00 and set an “outperform” rating on the stock in a research note on Friday, March 14th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.13.

Advanced Micro Devices Price Performance

Shares of NASDAQ:AMD opened at $102.84 on Wednesday. The company’s fifty day moving average is $97.41 and its 200 day moving average is $116.65. Advanced Micro Devices has a 52 week low of $76.48 and a 52 week high of $187.28. The stock has a market cap of $166.22 billion, a PE ratio of 103.88, a PEG ratio of 1.11 and a beta of 1.97. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, topping the consensus estimate of $0.93 by $0.03. The company had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.10 billion. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. The firm’s revenue for the quarter was up 35.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.62 earnings per share. Research analysts anticipate that Advanced Micro Devices will post 3.87 earnings per share for the current year.

Insider Activity

In other news, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total value of $1,670,725.00. Following the completion of the sale, the executive vice president now directly owns 1,713,710 shares in the company, valued at $163,607,893.70. This represents a 1.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.06% of the company’s stock.

Institutional Trading of Advanced Micro Devices

A number of hedge funds have recently bought and sold shares of AMD. Principal Financial Group Inc. increased its stake in shares of Advanced Micro Devices by 30.2% in the 3rd quarter. Principal Financial Group Inc. now owns 2,537,968 shares of the semiconductor manufacturer’s stock worth $416,430,000 after acquiring an additional 588,595 shares during the last quarter. Park National Corp OH grew its holdings in shares of Advanced Micro Devices by 87.1% in the fourth quarter. Park National Corp OH now owns 2,683 shares of the semiconductor manufacturer’s stock valued at $324,000 after purchasing an additional 1,249 shares during the period. Watts Gwilliam & Co. LLC increased its position in Advanced Micro Devices by 151.6% during the fourth quarter. Watts Gwilliam & Co. LLC now owns 19,279 shares of the semiconductor manufacturer’s stock worth $2,455,000 after purchasing an additional 11,616 shares during the last quarter. Sage Capital Advisors llc raised its stake in Advanced Micro Devices by 1.6% during the fourth quarter. Sage Capital Advisors llc now owns 6,386 shares of the semiconductor manufacturer’s stock worth $771,000 after purchasing an additional 98 shares during the period. Finally, Jacobs & Co. CA boosted its holdings in Advanced Micro Devices by 13.2% in the 4th quarter. Jacobs & Co. CA now owns 89,030 shares of the semiconductor manufacturer’s stock valued at $10,753,000 after purchasing an additional 10,404 shares during the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

Advanced Micro Devices Company Profile

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.