Advanced Micro Devices (NASDAQ:AMD) Given New $177.00 Price Target at Morgan Stanley

Advanced Micro Devices (NASDAQ:AMD) had its price objective lowered by Morgan Stanley from $193.00 to $177.00 in a research note released on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the semiconductor manufacturer’s stock.

A number of other equities analysts have also recently weighed in on AMD. TD Cowen increased their price objective on shares of Advanced Micro Devices from $185.00 to $200.00 and gave the stock a buy rating in a research report on Thursday, April 18th. UBS Group increased their price objective on shares of Advanced Micro Devices from $135.00 to $220.00 and gave the stock a buy rating in a research report on Thursday, January 25th. Bank of America increased their target price on shares of Advanced Micro Devices from $165.00 to $195.00 and gave the stock a buy rating in a report on Monday, January 29th. Wedbush reiterated an outperform rating and set a $200.00 target price on shares of Advanced Micro Devices in a report on Wednesday, April 17th. Finally, Truist Financial increased their target price on shares of Advanced Micro Devices from $154.00 to $174.00 and gave the stock a hold rating in a report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average price target of $182.62.

Advanced Micro Devices Stock Performance

Advanced Micro Devices stock opened at $144.27 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.51 and a quick ratio of 1.86. The stock has a market cap of $233.16 billion, a price-to-earnings ratio of 277.45, a price-to-earnings-growth ratio of 2.44 and a beta of 1.64. The firm has a 50 day simple moving average of $176.64 and a 200-day simple moving average of $151.54. Advanced Micro Devices has a 1-year low of $81.02 and a 1-year high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. The firm had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.48 billion. Advanced Micro Devices had a net margin of 3.77% and a return on equity of 5.73%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the company posted $0.43 EPS. On average, analysts expect that Advanced Micro Devices will post 2.64 EPS for the current year.

Insider Buying and Selling

In other news, CAO Darla M. Smith sold 1,678 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $188.66, for a total value of $316,571.48. Following the completion of the sale, the chief accounting officer now directly owns 4,209 shares of the company’s stock, valued at approximately $794,069.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Darla M. Smith sold 1,678 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $188.66, for a total value of $316,571.48. Following the completion of the sale, the chief accounting officer now directly owns 4,209 shares of the company’s stock, valued at approximately $794,069.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark D. Papermaster sold 16,200 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $164.25, for a total value of $2,660,850.00. Following the completion of the sale, the executive vice president now directly owns 1,554,602 shares of the company’s stock, valued at $255,343,378.50. The disclosure for this sale can be found here. Insiders have sold 341,143 shares of company stock worth $62,580,844 in the last ninety days. 0.65% of the stock is owned by corporate insiders.

Institutional Trading of Advanced Micro Devices

A number of large investors have recently made changes to their positions in the company. Brookstone Capital Management lifted its stake in shares of Advanced Micro Devices by 52.5% in the 3rd quarter. Brookstone Capital Management now owns 92,963 shares of the semiconductor manufacturer’s stock worth $9,519,000 after acquiring an additional 32,011 shares during the period. Commonwealth Equity Services LLC lifted its position in Advanced Micro Devices by 5.3% in the third quarter. Commonwealth Equity Services LLC now owns 603,957 shares of the semiconductor manufacturer’s stock valued at $62,099,000 after purchasing an additional 30,396 shares during the period. Compagnie Lombard Odier SCmA purchased a new stake in Advanced Micro Devices in the 3rd quarter valued at approximately $2,643,000. Busey Trust CO purchased a new stake in Advanced Micro Devices in the 3rd quarter valued at approximately $218,000. Finally, Hoertkorn Richard Charles boosted its holdings in Advanced Micro Devices by 13.3% in the 3rd quarter. Hoertkorn Richard Charles now owns 3,400 shares of the semiconductor manufacturer’s stock valued at $350,000 after purchasing an additional 400 shares in the last quarter. 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.