KeyCorp Issues Pessimistic Forecast for Advanced Micro Devices (NASDAQ:AMD) Stock Price

Advanced Micro Devices (NASDAQ:AMD) had its target price lowered by stock analysts at KeyCorp from $150.00 to $140.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the semiconductor manufacturer’s stock. KeyCorp’s price objective would suggest a potential upside of 27.09% from the stock’s current price.

Several other brokerages also recently commented on AMD. Roth Mkm reaffirmed a “buy” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research note on Friday, October 11th. The Goldman Sachs Group downgraded shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $175.00 to $129.00 in a research note on Friday, January 10th. Evercore ISI upped their price objective on shares of Advanced Micro Devices from $193.00 to $198.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Barclays lowered their price objective on shares of Advanced Micro Devices from $170.00 to $140.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, UBS Group lowered their price objective on shares of Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $161.30.

Advanced Micro Devices Stock Performance

NASDAQ AMD opened at $110.16 on Wednesday. The company has a 50-day simple moving average of $124.53 and a two-hundred day simple moving average of $140.39. 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 has a 12-month low of $106.50 and a 12-month high of $227.30. The firm has a market cap of $178.77 billion, a price-to-earnings ratio of 99.24, a PEG ratio of 1.03 and a beta of 1.65.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly 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, equities analysts forecast that Advanced Micro Devices will post 2.54 EPS for the current year.

Insider Activity

In related news, CEO Lisa T. Su sold 76,496 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 3,566,762 shares in the company, valued at approximately $508,834,266.92. This trade represents a 2.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its position in shares of Advanced Micro Devices by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,656,965 shares of the semiconductor manufacturer’s stock valued at $1,584,515,000 after acquiring an additional 177,700 shares during the period. Swiss National Bank grew its position in shares of Advanced Micro Devices by 0.3% during the 3rd quarter. Swiss National Bank now owns 4,797,575 shares of the semiconductor manufacturer’s stock valued at $787,186,000 after acquiring an additional 12,500 shares during the period. Shum Financial Group Inc. bought a new stake in shares of Advanced Micro Devices during the 3rd quarter valued at $858,000. State Street Corp increased its position in Advanced Micro Devices by 2.3% in the third quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after buying an additional 1,580,035 shares in the last quarter. Finally, Geode Capital Management LLC raised 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 buying an additional 441,924 shares during the period. Hedge funds and other institutional investors 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.