Morgan Stanley Cuts Advanced Micro Devices (NASDAQ:AMD) Price Target to $158.00

Advanced Micro Devices (NASDAQ:AMD) had its target price reduced by Morgan Stanley from $169.00 to $158.00 in a research report released on Friday,Benzinga reports. They currently have an equal weight rating on the semiconductor manufacturer’s stock.

AMD has been the subject of several other research reports. Benchmark restated a “buy” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research report on Thursday, October 31st. Roth Mkm reissued a “buy” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a report on Friday, October 11th. Evercore ISI lifted their target price on Advanced Micro Devices from $193.00 to $198.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $180.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Finally, Mizuho cut their price objective on shares of Advanced Micro Devices from $185.00 to $180.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $191.96.

Advanced Micro Devices Price Performance

Shares of NASDAQ:AMD opened at $119.21 on Friday. The company has a market cap of $193.45 billion, a PE ratio of 107.40, a P/E/G ratio of 1.88 and a beta of 1.65. Advanced Micro Devices has a fifty-two week low of $117.90 and a fifty-two week high of $227.30. The firm has a 50-day simple moving average of $142.00 and a 200 day simple moving average of $150.54. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03.

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

Insider Activity at Advanced Micro Devices

In related news, CEO Lisa T. Su sold 80,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the transaction, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at approximately $513,150,048.94. The trade was a 2.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. In the last 90 days, 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

A number of hedge funds have recently modified their holdings of AMD. Christopher J. Hasenberg Inc grew its stake in shares of Advanced Micro Devices by 12.0% in the third quarter. Christopher J. Hasenberg Inc now owns 560 shares of the semiconductor manufacturer’s stock worth $97,000 after acquiring an additional 60 shares during the last quarter. Wealth Effects LLC boosted its holdings in Advanced Micro Devices by 0.7% in the 3rd quarter. Wealth Effects LLC now owns 9,419 shares of the semiconductor manufacturer’s stock valued at $1,545,000 after purchasing an additional 65 shares during the period. Jacobsen Capital Management boosted its holdings in Advanced Micro Devices by 2.1% in the 3rd quarter. Jacobsen Capital Management now owns 3,378 shares of the semiconductor manufacturer’s stock valued at $554,000 after purchasing an additional 70 shares during the period. Sigma Investment Counselors Inc. grew its position in Advanced Micro Devices by 5.3% in the 3rd quarter. Sigma Investment Counselors Inc. now owns 1,482 shares of the semiconductor manufacturer’s stock worth $243,000 after purchasing an additional 74 shares during the last quarter. Finally, Bedell Frazier Investment Counselling LLC increased its holdings in shares of Advanced Micro Devices by 4.3% during the 3rd quarter. Bedell Frazier Investment Counselling LLC now owns 1,780 shares of the semiconductor manufacturer’s stock worth $292,000 after purchasing an additional 74 shares during the period. 71.34% of the stock is owned by institutional investors and hedge funds.

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.