Advanced Micro Devices (NASDAQ:AMD – Free Report) had its target price cut by Morgan Stanley from $178.00 to $169.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the semiconductor manufacturer’s stock.
Other analysts have also recently issued reports about the company. Bank of America restated a “buy” rating and set a $180.00 price target on shares of Advanced Micro Devices in a report on Thursday, October 3rd. TD Cowen reduced their target price on Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday. KeyCorp reduced their target price on Advanced Micro Devices from $230.00 to $220.00 and set an “overweight” rating on the stock in a report on Tuesday, July 9th. BNP Paribas upgraded Advanced Micro Devices to a “strong-buy” rating in a report on Wednesday, July 31st. Finally, Susquehanna reiterated a “positive” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a report on Wednesday, July 31st. One investment 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $192.79.
View Our Latest Report on Advanced Micro Devices
Advanced Micro Devices Stock Performance
Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, hitting the consensus estimate of $0.92. The company 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 quarterly revenue was up 17.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.53 earnings per share. Equities research analysts anticipate that Advanced Micro Devices will post 2.56 earnings per share for the current year.
Institutional Investors Weigh In On Advanced Micro Devices
A number of institutional investors and hedge funds have recently bought and sold shares of AMD. International Assets Investment Management LLC raised its position in Advanced Micro Devices by 17,137.3% in the 3rd quarter. International Assets Investment Management LLC now owns 7,860,909 shares of the semiconductor manufacturer’s stock valued at $1,289,818,000 after buying an additional 7,815,305 shares during the last quarter. Van ECK Associates Corp raised its position in Advanced Micro Devices by 52.6% in the 2nd quarter. Van ECK Associates Corp now owns 8,645,658 shares of the semiconductor manufacturer’s stock valued at $1,402,412,000 after buying an additional 2,979,204 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Advanced Micro Devices by 42.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock valued at $1,381,679,000 after buying an additional 2,497,056 shares during the last quarter. Vanguard Group Inc. raised its position in Advanced Micro Devices by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 144,794,666 shares of the semiconductor manufacturer’s stock valued at $26,133,989,000 after buying an additional 2,349,288 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Advanced Micro Devices in the 2nd quarter valued at $296,178,000. 71.34% of the stock is 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.
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