KeyCorp Cuts Advanced Micro Devices (NASDAQ:AMD) Price Target to $140.00

Advanced Micro Devices (NASDAQ:AMD) had its price target trimmed by KeyCorp from $150.00 to $140.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an overweight rating on the semiconductor manufacturer’s stock.

Several other research firms have also recently issued reports on AMD. Susquehanna lowered their price objective on Advanced Micro Devices from $200.00 to $165.00 and set a “positive” rating for the company in a research report on Wednesday, January 29th. Mizuho lowered their price objective on Advanced Micro Devices from $180.00 to $160.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Piper Sandler reaffirmed an “overweight” rating and set a $180.00 price objective (down from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. Melius Research reaffirmed a “hold” rating and set a $129.00 price objective (down from $160.00) on shares of Advanced Micro Devices in a research report on Tuesday, January 28th. Finally, Melius cut Advanced Micro Devices from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $160.00 to $129.00 in a research report on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $158.70.

Advanced Micro Devices Price Performance

Shares of NASDAQ AMD opened at $107.56 on Wednesday. The stock’s 50-day moving average is $124.01 and its two-hundred day moving average is $140.18. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78. Advanced Micro Devices has a 1-year low of $106.50 and a 1-year high of $227.30. The company has a market cap of $174.55 billion, a price-to-earnings ratio of 96.90, a price-to-earnings-growth ratio of 1.03 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $0.88 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.19). Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. Analysts forecast that Advanced Micro Devices will post 2.54 EPS for the current fiscal year.

Insider Transactions at Advanced Micro Devices

In other news, CEO Lisa T. Su sold 76,496 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at approximately $508,834,266.92. This represents a 2.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

Several hedge funds have recently bought and sold shares of AMD. Czech National Bank increased its stake in Advanced Micro Devices by 7.0% in the 3rd quarter. Czech National Bank now owns 329,712 shares of the semiconductor manufacturer’s stock valued at $54,099,000 after purchasing an additional 21,708 shares in the last quarter. Versant Capital Management Inc increased its position in Advanced Micro Devices by 28.9% during the third quarter. Versant Capital Management Inc now owns 1,128 shares of the semiconductor manufacturer’s stock worth $185,000 after buying an additional 253 shares in the last quarter. Dynamic Advisor Solutions LLC increased its position in Advanced Micro Devices by 9.9% during the third quarter. Dynamic Advisor Solutions LLC now owns 37,936 shares of the semiconductor manufacturer’s stock worth $6,225,000 after buying an additional 3,429 shares in the last quarter. City Holding Co. increased its position in Advanced Micro Devices by 3.2% during the third quarter. City Holding Co. now owns 36,224 shares of the semiconductor manufacturer’s stock worth $5,944,000 after buying an additional 1,135 shares in the last quarter. Finally, Reliant Investment Management LLC increased its position in Advanced Micro Devices by 4.2% during the third quarter. Reliant Investment Management LLC now owns 36,907 shares of the semiconductor manufacturer’s stock worth $6,056,000 after buying an additional 1,483 shares in the last quarter. 71.34% of the stock is owned by hedge funds and other institutional investors.

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.