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

Advanced Micro Devices (NASDAQ:AMD) had its price objective trimmed by Mizuho from $180.00 to $160.00 in a report published on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the semiconductor manufacturer’s stock.

Several other research analysts also recently issued reports on the company. Bank of America downgraded Advanced Micro Devices from a “buy” rating to a “neutral” rating and cut their price target for the stock from $180.00 to $155.00 in a research note on Monday, December 9th. Morgan Stanley reduced their price target on shares of Advanced Micro Devices from $169.00 to $158.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Benchmark reissued a “buy” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research note on Thursday, October 31st. Piper Sandler reaffirmed an “overweight” rating and issued a $180.00 target price (down previously from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Finally, Hsbc Global Res cut Advanced Micro Devices from a “strong-buy” rating to a “moderate sell” rating in a report on Wednesday. One 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $185.22.

Advanced Micro Devices Stock Down 4.8 %

Shares of NASDAQ AMD opened at $116.04 on Friday. The stock has a market capitalization of $188.31 billion, a price-to-earnings ratio of 104.54, a price-to-earnings-growth ratio of 1.88 and a beta of 1.66. Advanced Micro Devices has a 52 week low of $114.45 and a 52 week high of $227.30. The firm has a 50-day moving average price of $132.58 and a 200 day moving average price of $146.74. 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 posted its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.92. The company had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The company’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same period last year, the firm earned $0.53 EPS. Equities research 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, EVP Forrest Eugene Norrod sold 40,540 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the transaction, the executive vice president now owns 293,347 shares in the company, 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 document filed with the SEC, which is available through this hyperlink. Also, CEO Lisa T. Su sold 76,496 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 197,036 shares of company stock valued at $28,165,821. 0.65% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Advanced Micro Devices

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Creative Capital Management Investments LLC raised its stake in shares of Advanced Micro Devices by 124.6% during the third quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 86 shares during the period. ZRC Wealth Management LLC grew its holdings in Advanced Micro Devices by 90.4% during the 3rd 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 in the last quarter. Global Wealth Strategies & Associates purchased a new stake in Advanced Micro Devices during the 4th quarter worth $26,000. Fairway Wealth LLC acquired a new position in Advanced Micro Devices in the 2nd quarter worth $27,000. Finally, Abich Financial Wealth Management LLC boosted its position 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 during the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

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.