TD Cowen Issues Pessimistic Forecast for Advanced Micro Devices (NASDAQ:AMD) Stock Price

Advanced Micro Devices (NASDAQ:AMD) had its price objective lowered by TD Cowen from $210.00 to $185.00 in a research note published on Wednesday morning, Marketbeat Ratings reports. The firm currently has a buy rating on the semiconductor manufacturer’s stock.

Several other research analysts have also commented on AMD. Citigroup raised their price target on shares of Advanced Micro Devices from $176.00 to $210.00 and gave the company a “buy” rating in a report on Monday, July 15th. Truist Financial cut their price target on shares of Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating on the stock in a report on Wednesday, July 31st. Susquehanna restated a “positive” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a report on Wednesday, July 31st. Roth Mkm reiterated a “buy” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research note on Friday, October 11th. Finally, Piper Sandler lifted their price objective on shares of Advanced Micro Devices from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. One investment 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $192.79.

Advanced Micro Devices Trading Down 1.5 %

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

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

Hedge Funds Weigh In On Advanced Micro Devices

Hedge funds have recently added to or reduced their stakes in the business. Hennion & Walsh Asset Management Inc. bought a new stake in Advanced Micro Devices in the first quarter valued at $264,000. Cornerstone Wealth Management LLC lifted its stake in Advanced Micro Devices by 16.3% in the first quarter. Cornerstone Wealth Management LLC now owns 6,081 shares of the semiconductor manufacturer’s stock valued at $1,098,000 after buying an additional 854 shares during the last quarter. FORVIS Wealth Advisors LLC lifted its stake in Advanced Micro Devices by 37.1% in the first quarter. FORVIS Wealth Advisors LLC now owns 5,029 shares of the semiconductor manufacturer’s stock valued at $908,000 after buying an additional 1,361 shares during the last quarter. Ashton Thomas Private Wealth LLC lifted its stake in Advanced Micro Devices by 17.9% in the first quarter. Ashton Thomas Private Wealth LLC now owns 20,215 shares of the semiconductor manufacturer’s stock valued at $3,649,000 after buying an additional 3,068 shares during the last quarter. Finally, Norden Group LLC lifted its stake in Advanced Micro Devices by 41.1% in the first quarter. Norden Group LLC now owns 5,752 shares of the semiconductor manufacturer’s stock valued at $1,038,000 after buying an additional 1,675 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.