KeyCorp Has Lowered Expectations for Advanced Micro Devices (NASDAQ:AMD) Stock Price

Advanced Micro Devices (NASDAQ:AMD) had its price target cut by research analysts at KeyCorp from $220.00 to $150.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the semiconductor manufacturer’s stock. KeyCorp’s price objective would suggest a potential upside of 25.04% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Hsbc Global Res cut Advanced Micro Devices from a “strong-buy” rating to a “moderate sell” rating in a research note on Wednesday, January 8th. The Goldman Sachs Group lowered shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $175.00 to $129.00 in a report on Friday, January 10th. Bank of America downgraded shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and dropped their target price for the company from $180.00 to $155.00 in a research report on Monday, December 9th. Evercore ISI lifted their target price on shares of Advanced Micro Devices from $193.00 to $198.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Citigroup lowered their target price on Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Advanced Micro Devices has a consensus rating of “Moderate Buy” and an average target price of $179.68.

Advanced Micro Devices Stock Up 3.3 %

AMD opened at $119.96 on Tuesday. 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 fifty-two week low of $114.41 and a fifty-two week high of $227.30. The company has a fifty day moving average of $131.60 and a two-hundred day moving average of $145.95. The stock has a market capitalization of $194.67 billion, a price-to-earnings ratio of 108.07, a PEG ratio of 1.88 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.92. The company had revenue of $6.82 billion for 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 firm’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.53 EPS. On average, research analysts expect that Advanced Micro Devices will post 2.54 earnings per share for the current year.

Insider Transactions at Advanced Micro Devices

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Total Clarity Wealth Management Inc. increased its stake in Advanced Micro Devices by 11.2% during the 2nd quarter. Total Clarity Wealth Management Inc. now owns 1,640 shares of the semiconductor manufacturer’s stock worth $266,000 after buying an additional 165 shares during the period. Citizens Financial Group Inc. RI lifted its position in Advanced Micro Devices by 101.7% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 14,371 shares of the semiconductor manufacturer’s stock valued at $2,331,000 after purchasing an additional 7,245 shares during the last quarter. MSA Advisors LLC bought a new position in Advanced Micro Devices in the 2nd quarter worth approximately $1,000,000. WealthPLAN Partners LLC increased its holdings in shares of Advanced Micro Devices by 142.1% during the second quarter. WealthPLAN Partners LLC now owns 4,832 shares of the semiconductor manufacturer’s stock valued at $784,000 after purchasing an additional 2,836 shares during the period. Finally, Excalibur Management Corp bought a new stake in shares of Advanced Micro Devices during the 2nd quarter worth about $323,000. 71.34% of the stock is owned by hedge funds and other 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.