Cantor Fitzgerald Reaffirms “Overweight” Rating for Advanced Micro Devices (NASDAQ:AMD)

Advanced Micro Devices (NASDAQ:AMD)‘s stock had its “overweight” rating reaffirmed by research analysts at Cantor Fitzgerald in a report issued on Wednesday, Benzinga reports. They currently have a $180.00 price target on the semiconductor manufacturer’s stock. Cantor Fitzgerald’s price objective suggests a potential upside of 24.94% from the company’s previous close.

A number of other equities research analysts have also issued reports on the stock. KeyCorp cut their price target on shares of Advanced Micro Devices from $230.00 to $220.00 and set an “overweight” rating on the stock in a report on Tuesday, July 9th. UBS Group cut their price target on shares of Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating on the stock in a report on Wednesday. Rosenblatt Securities restated a “buy” rating and set a $250.00 price target on shares of Advanced Micro Devices in a report on Monday. Citigroup upped their price objective on shares of Advanced Micro Devices from $176.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, Evercore ISI boosted their target price on shares of Advanced Micro Devices from $193.00 to $198.00 and gave the stock an “outperform” rating in a research 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 data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $192.79.

Advanced Micro Devices Stock Down 3.0 %

NASDAQ AMD opened at $144.07 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.82 and a quick ratio of 2.01. The company’s 50 day simple moving average is $155.01 and its 200 day simple moving average is $155.94. Advanced Micro Devices has a 12 month low of $94.07 and a 12 month high of $227.30. The company has a market capitalization of $232.86 billion, a P/E ratio of 211.87, a PEG ratio of 2.33 and a beta of 1.70.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, hitting analysts’ consensus estimates of $0.92. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 5.98%. The business had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same period in the previous year, the firm earned $0.53 EPS. The business’s revenue for the quarter was up 17.6% on a year-over-year basis. Equities research analysts expect that Advanced Micro Devices will post 2.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Advanced Micro Devices

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Advanced Micro Devices by 1.6% during 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 buying an additional 2,349,288 shares during the period. Legal & General Group Plc lifted its position in Advanced Micro Devices by 1.4% during the second quarter. Legal & General Group Plc now owns 13,310,158 shares of the semiconductor manufacturer’s stock valued at $2,159,039,000 after purchasing an additional 188,580 shares during the period. Van ECK Associates Corp increased its holdings in Advanced Micro Devices by 11.3% during the third quarter. Van ECK Associates Corp now owns 9,620,878 shares of the semiconductor manufacturer’s stock valued at $1,471,128,000 after buying an additional 975,220 shares during the last quarter. Assenagon Asset Management S.A. increased 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 in the last quarter. Finally, GQG Partners LLC increased its stake in shares of Advanced Micro Devices by 5.0% in the first quarter. GQG Partners LLC now owns 8,044,462 shares of the semiconductor manufacturer’s stock worth $1,451,945,000 after purchasing an additional 382,582 shares in the last quarter. Hedge funds and other institutional investors 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.