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

Advanced Micro Devices (NASDAQ:AMD) had its price objective cut by stock analysts at Morgan Stanley from $178.00 to $169.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the semiconductor manufacturer’s stock. Morgan Stanley’s price objective would indicate a potential upside of 17.30% from the stock’s previous close.

Several other brokerages also recently weighed in on AMD. Wells Fargo & Company upped their target price on shares of Advanced Micro Devices from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Piper Sandler increased their price objective on Advanced Micro Devices from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Robert W. Baird lowered their target price on Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Susquehanna reaffirmed a “positive” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, July 31st. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $180.00 price objective on shares of Advanced Micro Devices in a research report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Advanced Micro Devices presently has an average rating of “Moderate Buy” and an average target price of $192.79.

Advanced Micro Devices Stock Down 3.0 %

Shares of NASDAQ AMD opened at $144.07 on Wednesday. Advanced Micro Devices has a 52-week low of $94.07 and a 52-week high of $227.30. The business’s 50 day moving average is $155.01 and its two-hundred day moving average is $155.94. The firm has a market cap of $232.86 billion, a price-to-earnings ratio of 211.87, a PEG ratio of 2.33 and a beta of 1.70. The company has a quick ratio of 2.01, a current ratio of 2.82 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.92. Advanced Micro Devices had a return on equity of 5.98% and a net margin of 5.82%. The firm had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter in the previous year, the business earned $0.53 EPS. The company’s quarterly revenue was up 17.6% compared to the same quarter last year. Research analysts predict that Advanced Micro Devices will post 2.56 EPS for the current year.

Institutional Investors Weigh In On Advanced Micro Devices

A number of hedge funds have recently added to or reduced their stakes in AMD. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Advanced Micro Devices by 59.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 309,561 shares of the semiconductor manufacturer’s stock worth $50,214,000 after purchasing an additional 116,020 shares during the period. Wesbanco Bank Inc. boosted its holdings in Advanced Micro Devices by 15.7% during the third quarter. Wesbanco Bank Inc. now owns 155,558 shares of the semiconductor manufacturer’s stock worth $25,524,000 after buying an additional 21,132 shares in the last quarter. St. Louis Financial Planners Asset Management LLC acquired a new position in Advanced Micro Devices during the third quarter worth about $2,394,000. Sycomore Asset Management increased its holdings in Advanced Micro Devices by 28.6% in the second quarter. Sycomore Asset Management now owns 137,883 shares of the semiconductor manufacturer’s stock valued at $21,722,000 after buying an additional 30,677 shares in the last quarter. Finally, Custom Index Systems LLC acquired a new stake in shares of Advanced Micro Devices during the 3rd quarter valued at approximately $559,000. 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.