Morgan Stanley cut shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) from an equal weight rating to an underweight rating in a report issued on Monday, MarketBeat Ratings reports. The firm currently has $11.00 price target on the semiconductor manufacturer’s stock, up from their previous price target of $8.00.
“gradually fade,” and AMD will also see a decline in demand from consoles while graphics will be flattish.For AMD to at the very least match the Street’s estimates for 2018, its microprocessor business needs to grow by 60 percent, or $880 million. As such, this creates a scenario where upside to the current stock price is limited in 2018 and beyond.”To be clear, we admire what the company has accomplished on a fraction of its competitors’ budgets in both microprocessors and graphics,” the analyst said. “Our cautious view is based entirely on the current stock price.,” the firm’s analyst wrote.
A number of other brokerages have also weighed in on AMD. Jefferies Group LLC reaffirmed a buy rating and issued a $19.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, October 25th. TheStreet raised shares of Advanced Micro Devices from a d rating to a c- rating in a research report on Tuesday, October 24th. Oppenheimer Holdings, Inc. reissued a market perform rating on shares of Advanced Micro Devices in a research report on Friday, July 28th. Robert W. Baird began coverage on shares of Advanced Micro Devices in a research report on Wednesday, July 26th. They issued an outperform rating and a $20.00 price objective on the stock. Finally, MKM Partners reissued a neutral rating and issued a $13.00 price objective on shares of Advanced Micro Devices in a research report on Friday, July 21st. Seven analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Advanced Micro Devices presently has an average rating of Hold and an average price target of $14.36.
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In other Advanced Micro Devices news, SVP Forrest Eugene Norrod sold 14,196 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $12.46, for a total value of $176,882.16. Following the transaction, the senior vice president now directly owns 720,657 shares in the company, valued at $8,979,386.22. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP James Robert Anderson sold 20,000 shares of the company’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $12.04, for a total transaction of $240,800.00. Following the completion of the transaction, the senior vice president now owns 493,773 shares in the company, valued at $5,945,026.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,367,254 shares of company stock worth $542,769,862. 1.60% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in AMD. K.J. Harrison & Partners Inc acquired a new position in shares of Advanced Micro Devices in the second quarter valued at $125,000. First Personal Financial Services acquired a new position in shares of Advanced Micro Devices in the third quarter valued at $127,000. Regal Investment Advisors LLC acquired a new position in shares of Advanced Micro Devices in the second quarter valued at $137,000. Ausdal Financial Partners Inc. acquired a new position in shares of Advanced Micro Devices in the third quarter valued at $139,000. Finally, CAPROCK Group Inc. acquired a new position in shares of Advanced Micro Devices in the third quarter valued at $140,000. Hedge funds and other institutional investors own 59.10% of the company’s stock.
Advanced Micro Devices Company Profile
Advanced Micro Devices, Inc is a global semiconductor company. The Company is engaged in offering x86 microprocessors, as standalone devices or as incorporated into an accelerated processing unit (APU), chipsets, discrete graphics processing units (GPUs) and professional graphics, and server and embedded processors and semi-custom System-on-Chip (SoC) products and technology for game consoles.
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