KeyCorp Cuts Advanced Micro Devices (NASDAQ:AMD) Price Target to $220.00

Advanced Micro Devices (NASDAQ:AMD) had its target price trimmed by KeyCorp from $230.00 to $220.00 in a research note published on Tuesday, Benzinga reports. The firm currently has an overweight rating on the semiconductor manufacturer’s stock.

Other equities research analysts have also recently issued reports about the stock. UBS Group cut their price objective on shares of Advanced Micro Devices from $205.00 to $200.00 and set a buy rating on the stock in a research note on Wednesday, May 1st. Rosenblatt Securities reaffirmed a buy rating and issued a $250.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, May 1st. Jefferies Financial Group assumed coverage on shares of Advanced Micro Devices in a research note on Monday, May 13th. They set a buy rating and a $190.00 price objective on the stock. Citigroup cut their target price on Advanced Micro Devices from $192.00 to $176.00 and set a buy rating for the company in a research report on Wednesday, May 1st. Finally, Piper Sandler reaffirmed an overweight rating and set a $175.00 target price (down previously from $195.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $191.00.

Advanced Micro Devices Price Performance

Shares of NASDAQ AMD opened at $181.61 on Tuesday. The company has a current ratio of 2.64, a quick ratio of 1.92 and a debt-to-equity ratio of 0.03. The business has a 50 day simple moving average of $163.15 and a 200-day simple moving average of $167.21. Advanced Micro Devices has a twelve month low of $93.11 and a twelve month high of $227.30. The company has a market capitalization of $293.54 billion, a price-to-earnings ratio of 267.08, a price-to-earnings-growth ratio of 2.13 and a beta of 1.68.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 EPS for the quarter, topping the consensus estimate of $0.61 by $0.01. The business had revenue of $5.47 billion during the quarter, compared to analyst estimates of $5.48 billion. Advanced Micro Devices had a net margin of 4.89% and a return on equity of 5.72%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.43 earnings per share. As a group, equities research analysts expect that Advanced Micro Devices will post 2.61 earnings per share for the current year.

Insider Activity at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 16,200 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $158.94, for a total value of $2,574,828.00. Following the transaction, the executive vice president now directly owns 1,546,227 shares of the company’s stock, valued at $245,757,319.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.73% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Advanced Micro Devices

Several institutional investors and hedge funds have recently modified their holdings of the business. Keystone Wealth Services LLC increased its position in Advanced Micro Devices by 76.2% during the second quarter. Keystone Wealth Services LLC now owns 6,236 shares of the semiconductor manufacturer’s stock worth $1,012,000 after buying an additional 2,697 shares during the last quarter. Evanson Asset Management LLC boosted its stake in shares of Advanced Micro Devices by 1.0% during the 2nd quarter. Evanson Asset Management LLC now owns 12,924 shares of the semiconductor manufacturer’s stock worth $2,096,000 after acquiring an additional 123 shares in the last quarter. Fermata Advisors LLC increased its holdings in shares of Advanced Micro Devices by 17.8% during the 2nd quarter. Fermata Advisors LLC now owns 4,576 shares of the semiconductor manufacturer’s stock valued at $742,000 after acquiring an additional 690 shares during the last quarter. Curated Wealth Partners LLC raised its stake in shares of Advanced Micro Devices by 215.7% in the 2nd quarter. Curated Wealth Partners LLC now owns 3,310 shares of the semiconductor manufacturer’s stock valued at $537,000 after acquiring an additional 6,170 shares in the last quarter. Finally, Thrive Wealth Management LLC lifted its holdings in Advanced Micro Devices by 6.6% in the 2nd quarter. Thrive Wealth Management LLC now owns 1,573 shares of the semiconductor manufacturer’s stock worth $255,000 after purchasing an additional 98 shares during 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.