Mizuho Cuts Advanced Micro Devices (NASDAQ:AMD) Price Target to $160.00

Advanced Micro Devices (NASDAQ:AMD) had its target price lowered by equities research analysts at Mizuho from $180.00 to $160.00 in a report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the semiconductor manufacturer’s stock. Mizuho’s price target indicates a potential upside of 38.80% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. TD Cowen lowered their price target on Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and issued a $180.00 target price (down previously from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. StockNews.com upgraded shares of Advanced Micro Devices from a “sell” rating to a “hold” rating in a report on Monday. Roth Mkm restated a “buy” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research note on Friday, October 11th. Finally, Bank of America cut Advanced Micro Devices from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $180.00 to $155.00 in a report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $185.22.

Advanced Micro Devices Stock Down 5.4 %

Advanced Micro Devices stock traded down $6.57 during mid-day trading on Friday, reaching $115.27. 36,479,024 shares of the company were exchanged, compared to its average volume of 39,893,746. The firm has a market cap of $187.06 billion, a P/E ratio of 103.85, a PEG ratio of 1.88 and a beta of 1.66. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50. Advanced Micro Devices has a 12-month low of $114.45 and a 12-month high of $227.30. The business has a fifty day moving average of $133.09 and a 200 day moving average of $147.05.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.92. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. 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 firm earned $0.53 EPS. The company’s quarterly 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.

Insiders Place Their Bets

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of the business’s stock in a transaction on 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 completion of the sale, the executive vice president now directly owns 293,347 shares of the company’s stock, valued at $41,558,469.49. The trade was a 12.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Lisa T. Su sold 76,496 shares of the firm’s 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 transaction, 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. Insiders have sold 197,036 shares of company stock worth $28,165,821 over the last three months. Company insiders own 0.65% of the company’s stock.

Institutional Trading of Advanced Micro Devices

Several hedge funds have recently made changes to their positions in AMD. Creative Capital Management Investments LLC boosted its stake in shares of Advanced Micro Devices by 124.6% during the 3rd quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 86 shares in the last quarter. ZRC Wealth Management LLC grew its position in shares of Advanced Micro Devices by 90.4% in the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 75 shares during the last quarter. Global Wealth Strategies & Associates purchased a new position in shares of Advanced Micro Devices during the 4th quarter worth approximately $26,000. Fairway Wealth LLC acquired a new position in shares of Advanced Micro Devices during the 2nd quarter worth approximately $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 valued at $36,000 after buying an additional 111 shares in the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

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.