Advanced Micro Devices’ (AMD) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Advanced Micro Devices (NASDAQ:AMD)‘s stock had its “overweight” rating reiterated by equities researchers at Cantor Fitzgerald in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $180.00 price target on the semiconductor manufacturer’s stock. Cantor Fitzgerald’s price target points to a potential upside of 20.39% from the stock’s current price.

Other analysts also recently issued reports about the company. Wells Fargo & Company increased their price objective on Advanced Micro Devices from $190.00 to $205.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Truist Financial decreased their price objective on Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating for the company in a report on Wednesday, July 31st. Roth Mkm restated a “buy” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a report on Friday, October 11th. BNP Paribas upgraded Advanced Micro Devices to a “strong-buy” rating in a report on Wednesday, July 31st. Finally, UBS Group decreased their price target on Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $193.14.

Advanced Micro Devices Price Performance

NASDAQ AMD traded down $16.74 on Wednesday, hitting $149.51. 58,825,667 shares of the company’s stock were exchanged, compared to its average volume of 56,711,555. The stock has a 50-day moving average of $155.35 and a 200-day moving average of $156.08. The company has a current ratio of 2.82, a quick ratio of 2.01 and a debt-to-equity ratio of 0.03. Advanced Micro Devices has a 52 week low of $94.07 and a 52 week high of $227.30. The stock has a market cap of $241.66 billion, a price-to-earnings ratio of 220.26, a P/E/G ratio of 2.33 and a beta of 1.70.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results 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 company had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.71 billion. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 5.98%. The company’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.53 earnings per share. Analysts expect that Advanced Micro Devices will post 2.56 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Hennion & Walsh Asset Management Inc. bought a new position in Advanced Micro Devices in the 1st quarter valued at $264,000. Cornerstone Wealth Management LLC boosted its holdings in 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 valued at $1,098,000 after purchasing an additional 854 shares during the period. FORVIS Wealth Advisors LLC boosted its holdings in 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 during the period. Ashton Thomas Private Wealth LLC boosted its holdings in 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 during the period. Finally, Norden Group LLC boosted its holdings in Advanced Micro Devices by 41.1% in the 1st quarter. Norden Group LLC now owns 5,752 shares of the semiconductor manufacturer’s stock valued at $1,038,000 after purchasing an additional 1,675 shares during the period. 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.