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

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

Several other analysts have also recently commented on the company. Wedbush restated an “outperform” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a report on Wednesday, July 31st. Bank of America restated a “buy” rating and issued a $180.00 target price on shares of Advanced Micro Devices in a report on Thursday, October 3rd. StockNews.com downgraded shares of Advanced Micro Devices from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. Robert W. Baird lowered their price objective on shares of Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Finally, Morgan Stanley dropped their price objective on Advanced Micro Devices from $178.00 to $169.00 and set an “equal weight” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.79.

Advanced Micro Devices Stock Down 1.5 %

Shares of NASDAQ AMD opened at $141.86 on Wednesday. The firm has a market cap of $229.60 billion, a P/E ratio of 127.80, a price-to-earnings-growth ratio of 2.03 and a beta of 1.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.01 and a current ratio of 2.50. Advanced Micro Devices has a 1 year low of $105.91 and a 1 year high of $227.30. The firm’s 50 day moving average price is $154.75 and its 200 day moving average price is $155.81.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.92. The business had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.71 billion. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The business’s revenue was up 17.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.53 earnings per share. As a group, sell-side analysts anticipate that Advanced Micro Devices will post 2.56 earnings per share for the current year.

Hedge Funds Weigh In On Advanced Micro Devices

Several institutional investors and hedge funds have recently made changes to their positions in AMD. Hennion & Walsh Asset Management Inc. acquired a new stake in Advanced Micro Devices in the first quarter valued at $264,000. Cornerstone Wealth Management LLC increased its position in shares of Advanced Micro Devices by 16.3% in the 1st quarter. Cornerstone Wealth Management LLC now owns 6,081 shares of the semiconductor manufacturer’s stock worth $1,098,000 after purchasing an additional 854 shares during the last quarter. FORVIS Wealth Advisors LLC raised its stake in shares of Advanced Micro Devices by 37.1% in the 1st quarter. FORVIS Wealth Advisors LLC now owns 5,029 shares of the semiconductor manufacturer’s stock valued at $908,000 after purchasing an additional 1,361 shares in the last quarter. Ashton Thomas Private Wealth LLC raised its stake in shares of Advanced Micro Devices by 17.9% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 20,215 shares of the semiconductor manufacturer’s stock valued at $3,649,000 after purchasing an additional 3,068 shares in the last quarter. Finally, Norden Group LLC lifted its position in shares of Advanced Micro Devices by 41.1% during the first quarter. Norden Group LLC now owns 5,752 shares of the semiconductor manufacturer’s stock worth $1,038,000 after purchasing an additional 1,675 shares during the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

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.