KeyCorp Cuts Advanced Micro Devices (NASDAQ:AMD) Price Target to $150.00

Advanced Micro Devices (NASDAQ:AMD) had its price target decreased by research analysts at KeyCorp from $220.00 to $150.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the semiconductor manufacturer’s stock. KeyCorp’s price target suggests a potential upside of 27.86% from the company’s current price.

Several other analysts also recently commented on AMD. Barclays cut their target price on Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. UBS Group cut their price objective on Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. StockNews.com lowered Advanced Micro Devices from a “hold” rating to a “sell” rating in a report on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $180.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Finally, Mizuho cut their price objective on Advanced Micro Devices from $180.00 to $160.00 and set an “outperform” rating for the company in a report on Friday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.68.

Advanced Micro Devices Stock Performance

Shares of AMD opened at $117.32 on Tuesday. The business’s fifty day simple moving average is $132.11 and its two-hundred day simple moving average is $146.27. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. Advanced Micro Devices has a 12 month low of $114.41 and a 12 month high of $227.30. The company has a market cap of $190.39 billion, a price-to-earnings ratio of 105.69, a P/E/G ratio of 1.88 and a beta of 1.66.

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

Insider Buying and Selling

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 40,540 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the sale, the executive vice president now directly owns 293,347 shares in the company, valued at $41,558,469.49. This represents a 12.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Lisa T. Su sold 76,496 shares of the company’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 disclosure for this sale can be found here. Over the last three months, insiders have sold 197,036 shares of company stock worth $28,165,821. Corporate insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp grew its stake in shares of Advanced Micro Devices by 2.3% during the third quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock valued at $11,513,538,000 after buying an additional 1,580,035 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Advanced Micro Devices by 1.3% during the third quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock valued at $5,597,337,000 after buying an additional 441,924 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Advanced Micro Devices by 2.8% during the third quarter. Fisher Asset Management LLC now owns 23,795,236 shares of the semiconductor manufacturer’s stock valued at $3,904,323,000 after buying an additional 644,039 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Advanced Micro Devices by 8.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,472,211 shares of the semiconductor manufacturer’s stock valued at $3,195,000,000 after buying an additional 1,565,083 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Advanced Micro Devices by 1.4% during the second quarter. Legal & General Group Plc now owns 13,310,158 shares of the semiconductor manufacturer’s stock valued at $2,159,039,000 after buying an additional 188,580 shares during the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

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.