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

Advanced Micro Devices (NASDAQ:AMD) had its target price cut by Mizuho from $160.00 to $140.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the semiconductor manufacturer’s stock. Mizuho’s price objective would suggest a potential upside of 27.19% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the company. Morgan Stanley reduced their price target on Advanced Micro Devices from $158.00 to $147.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Piper Sandler cut their target price on Advanced Micro Devices from $180.00 to $140.00 and set an “overweight” rating on the stock in a report on Wednesday. Wells Fargo & Company dropped their price target on Advanced Micro Devices from $165.00 to $140.00 and set an “overweight” rating on the stock in a research note on Wednesday. UBS Group decreased their price objective on Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Finally, Barclays dropped their target price on Advanced Micro Devices from $170.00 to $140.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $161.30.

Advanced Micro Devices Trading Down 7.9 %

Shares of Advanced Micro Devices stock traded down $9.43 during trading on Wednesday, reaching $110.07. 84,182,816 shares of the company were exchanged, compared to its average volume of 41,858,699. The business has a 50-day moving average price of $125.02 and a 200-day moving average price of $140.59. The firm has a market capitalization of $178.62 billion, a price-to-earnings ratio of 99.29, a P/E/G ratio of 1.03 and a beta of 1.66. Advanced Micro Devices has a twelve month low of $106.50 and a twelve month high of $227.30. 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 earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $0.88 EPS 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%. Sell-side analysts anticipate that Advanced Micro Devices will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling

In other Advanced Micro Devices news, CEO Lisa T. Su sold 76,496 shares of the business’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 value of $10,912,919.36. Following the sale, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at $508,834,266.92. The trade was a 2.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.65% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Advanced Micro Devices

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMD. Charles Schwab Investment Management Inc. increased its position in shares of Advanced Micro Devices by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 9,656,965 shares of the semiconductor manufacturer’s stock valued at $1,584,515,000 after buying an additional 177,700 shares in the last quarter. Swiss National Bank increased its holdings in Advanced Micro Devices by 0.3% in the 3rd quarter. Swiss National Bank now owns 4,797,575 shares of the semiconductor manufacturer’s stock valued at $787,186,000 after purchasing an additional 12,500 shares in the last quarter. Shum Financial Group Inc. purchased a new stake in shares of Advanced Micro Devices during the third quarter valued at approximately $858,000. State Street Corp lifted its stake in shares of Advanced Micro Devices by 2.3% in the third quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after acquiring an additional 1,580,035 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Advanced Micro Devices by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock valued at $5,597,337,000 after acquiring an additional 441,924 shares during the last quarter. 71.34% of the stock is 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.