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

Advanced Micro Devices (NASDAQ:AMD) had its price target dropped by investment analysts at KeyCorp from $220.00 to $150.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the semiconductor manufacturer’s stock. KeyCorp’s target price would indicate a potential upside of 27.86% from the company’s previous close.

Several other analysts have also recently issued reports on the company. Citigroup dropped their target price on Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. HSBC reaffirmed a “reduce” rating and set a $110.00 target price (down previously from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, January 8th. Morgan Stanley dropped their target price on Advanced Micro Devices from $169.00 to $158.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 target price on shares of Advanced Micro Devices in a research report on Monday, October 28th. Finally, Wells Fargo & Company decreased their price objective on Advanced Micro Devices from $205.00 to $165.00 and set an “overweight” rating for the company in a report on Monday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to 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 1.1 %

Shares of NASDAQ:AMD opened at $117.32 on Tuesday. Advanced Micro Devices has a 52-week low of $114.41 and a 52-week high of $227.30. The stock has a market cap of $190.39 billion, a P/E ratio of 105.69, a price-to-earnings-growth ratio of 1.88 and a beta of 1.66. The business’s 50 day moving average is $132.11 and its 200 day moving average is $146.27. 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 announced its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, hitting 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 company had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter in the prior year, the firm earned $0.53 earnings per share. Advanced Micro Devices’s revenue was up 17.6% compared to the same quarter last year. Sell-side analysts predict that Advanced Micro Devices will post 2.54 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Lisa T. Su sold 76,496 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $142.66, for a total transaction of $10,912,919.36. Following the sale, the chief executive officer now directly owns 3,566,762 shares in the company, valued at $508,834,266.92. This trade represents a 2.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total value of $5,743,301.80. Following the sale, the executive vice president now owns 293,347 shares in the company, valued at $41,558,469.49. This trade represents a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 197,036 shares of company stock valued at $28,165,821. Company insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

Institutional investors have recently bought and sold shares of the company. Creative Capital Management Investments LLC boosted its holdings in Advanced Micro Devices by 124.6% in the 3rd quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 86 shares during the last quarter. ZRC Wealth Management LLC boosted its holdings in Advanced Micro Devices by 90.4% in the 3rd quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 75 shares during the last quarter. Global Wealth Strategies & Associates acquired a new stake in Advanced Micro Devices in the 4th quarter worth about $26,000. Fairway Wealth LLC acquired a new stake in Advanced Micro Devices in the 2nd quarter worth about $27,000. Finally, Abich Financial Wealth Management LLC lifted its stake in Advanced Micro Devices by 101.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 220 shares of the semiconductor manufacturer’s stock worth $36,000 after purchasing an additional 111 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

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.