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

Advanced Micro Devices (NASDAQ:AMD) had its price target reduced by investment analysts at Morgan Stanley from $185.00 to $168.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the semiconductor manufacturer’s stock. Morgan Stanley’s target price indicates a potential downside of 2.55% from the company’s current price.

Other research analysts also recently issued research reports about the stock. The Goldman Sachs Group upgraded shares of Advanced Micro Devices to a “hold” rating and set a $140.00 target price on the stock in a research note on Thursday, July 10th. Barclays increased their target price on Advanced Micro Devices from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, May 16th. Wedbush restated an “outperform” rating and issued a $120.00 price target (up previously from $115.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Citigroup increased their price objective on Advanced Micro Devices from $145.00 to $165.00 and gave the company a “neutral” rating in a research report on Friday, July 18th. Finally, Robert W. Baird decreased their target price on Advanced Micro Devices from $175.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. Thirteen investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $178.56.

Advanced Micro Devices Price Performance

AMD stock opened at $172.40 on Wednesday. The firm’s fifty day moving average is $143.30 and its 200 day moving average is $117.90. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.97 and a current ratio of 2.49. Advanced Micro Devices has a 52 week low of $76.48 and a 52 week high of $182.50. The firm has a market cap of $279.53 billion, a P/E ratio of 99.08, a P/E/G ratio of 2.15 and a beta of 1.94.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.06). Advanced Micro Devices had a return on equity of 7.54% and a net margin of 9.57%. The company had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.41 billion. During the same period in the previous year, the company earned $0.69 earnings per share. Advanced Micro Devices’s quarterly revenue was up 31.7% on a year-over-year basis. Research analysts predict that Advanced Micro Devices will post 3.87 earnings per share for the current year.

Advanced Micro Devices declared that its board has authorized a share buyback program on Wednesday, May 14th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to purchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,998 shares of the business’s stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $155.03, for a total transaction of $2,790,229.94. Following the transaction, the executive vice president owned 1,713,710 shares of the company’s stock, valued at approximately $265,676,461.30. The trade was a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Advanced Micro Devices

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Greenline Partners LLC acquired a new stake in Advanced Micro Devices during the 4th quarter worth $28,000. Farmers & Merchants Trust Co of Chambersburg PA grew its stake in Advanced Micro Devices by 277.8% during the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 272 shares of the semiconductor manufacturer’s stock worth $28,000 after buying an additional 200 shares during the last quarter. American Capital Advisory LLC increased its position in Advanced Micro Devices by 90.3% during the first quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer’s stock worth $28,000 after buying an additional 130 shares during the period. Kozak & Associates Inc. lifted its stake in Advanced Micro Devices by 67.6% in the first quarter. Kozak & Associates Inc. now owns 305 shares of the semiconductor manufacturer’s stock valued at $29,000 after buying an additional 123 shares during the last quarter. Finally, Mpwm Advisory Solutions LLC acquired a new stake in shares of Advanced Micro Devices in the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds 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.