Advanced Micro Devices (NASDAQ:AMD) Given “Overweight” Rating at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Advanced Micro Devices (NASDAQ:AMD) in a research note published on Wednesday morning, Benzinga reports. The firm currently has a $180.00 target price on the semiconductor manufacturer’s stock. Cantor Fitzgerald also issued estimates for Advanced Micro Devices’ FY2024 earnings at $2.59 EPS.

Several other research analysts have also recently weighed in on the stock. Barclays lowered their price target on shares of Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating on the stock in a report on Wednesday. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price target on shares of Advanced Micro Devices in a report on Monday, October 28th. Evercore ISI upped their price objective on Advanced Micro Devices from $193.00 to $198.00 and gave the company an “outperform” rating in a report on Wednesday. Roth Mkm reiterated a “buy” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research report on Friday, October 11th. Finally, Edward Jones began coverage on shares of Advanced Micro Devices in a research report on Tuesday, August 20th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.79.

Advanced Micro Devices Stock Down 1.5 %

AMD stock opened at $141.86 on Wednesday. Advanced Micro Devices has a 1-year low of $105.91 and a 1-year high of $227.30. The business’s 50 day simple moving average is $154.75 and its 200 day simple moving average is $155.76. The company has a current ratio of 2.50, a quick ratio of 2.01 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $229.60 billion, a PE ratio of 127.80, a PEG ratio of 2.03 and a beta of 1.70.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, meeting the consensus estimate of $0.92. The firm had revenue of $6.82 billion for 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 quarterly revenue was up 17.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.53 earnings per share. As a group, research analysts anticipate that Advanced Micro Devices will post 2.56 EPS for the current year.

Institutional Trading of Advanced Micro Devices

A number of hedge funds and other institutional investors have recently modified their holdings of AMD. International Assets Investment Management LLC grew its holdings in Advanced Micro Devices by 17,137.3% during the 3rd quarter. International Assets Investment Management LLC now owns 7,860,909 shares of the semiconductor manufacturer’s stock worth $1,289,818,000 after acquiring an additional 7,815,305 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Advanced Micro Devices by 52.6% during the second quarter. Van ECK Associates Corp now owns 8,645,658 shares of the semiconductor manufacturer’s stock worth $1,402,412,000 after purchasing an additional 2,979,204 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Advanced Micro Devices by 42.2% in the third quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock worth $1,381,679,000 after purchasing an additional 2,497,056 shares during the last quarter. Vanguard Group Inc. increased its holdings in Advanced Micro Devices by 1.6% in the first quarter. Vanguard Group Inc. now owns 144,794,666 shares of the semiconductor manufacturer’s stock valued at $26,133,989,000 after purchasing an additional 2,349,288 shares during the period. Finally, Renaissance Technologies LLC bought a new position in Advanced Micro Devices during the 2nd quarter worth $296,178,000. Institutional investors own 71.34% of the company’s stock.

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.