Morgan Stanley downgraded shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) from an equal weight rating to an underweight rating in a research note published on Monday, MarketBeat.com reports. The brokerage currently has $11.00 target price on the semiconductor manufacturer’s stock, up from their prior target price 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.,” Morgan Stanley’s analyst wrote.

A number of other research firms have also recently weighed in on AMD. Jefferies Group LLC reaffirmed a buy rating and set a $19.00 price target on shares of Advanced Micro Devices in a report on Wednesday, October 25th. TheStreet raised Advanced Micro Devices from a d rating to a c- rating in a report on Tuesday, October 24th. Oppenheimer Holdings, Inc. reaffirmed a market perform rating on shares of Advanced Micro Devices in a report on Friday, July 28th. Robert W. Baird started coverage on Advanced Micro Devices in a report on Wednesday, July 26th. They set an outperform rating and a $20.00 price target on the stock. Finally, MKM Partners reaffirmed a neutral rating and set a $13.00 price target on shares of Advanced Micro Devices in a report on Friday, July 21st. Seven investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $14.36.

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In related news, insider Mark D. Papermaster sold 44,105 shares of Advanced Micro Devices stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $12.46, for a total value of $549,548.30. Following the completion of the sale, the insider now owns 1,013,763 shares of the company’s stock, valued at approximately $12,631,486.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Mark D. Papermaster sold 30,000 shares of Advanced Micro Devices stock in a transaction on Monday, August 7th. The shares were sold at an average price of $13.46, for a total transaction of $403,800.00. Following the completion of the sale, the insider now directly owns 930,084 shares of the company’s stock, valued at approximately $12,518,930.64. The disclosure for this sale can be found here. Insiders have sold a total of 1,237,037 shares of company stock valued at $15,453,602 in the last three months. Company insiders own 1.60% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. acquired a new stake in shares of Advanced Micro Devices in the 2nd quarter valued at $184,767,000. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in shares of Advanced Micro Devices by 51.7% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 200,824 shares of the semiconductor manufacturer’s stock valued at $2,506,000 after purchasing an additional 68,462 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Advanced Micro Devices by 20.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 159,983 shares of the semiconductor manufacturer’s stock valued at $1,997,000 after purchasing an additional 27,233 shares during the last quarter. KBC Group NV lifted its stake in shares of Advanced Micro Devices by 16.0% in the 2nd quarter. KBC Group NV now owns 106,877 shares of the semiconductor manufacturer’s stock valued at $1,334,000 after purchasing an additional 14,715 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Advanced Micro Devices by 48.3% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,363,776 shares of the semiconductor manufacturer’s stock valued at $29,500,000 after purchasing an additional 769,739 shares during the last quarter. 59.10% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Advanced Micro Devices (NASDAQ:AMD)

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