Cantor Fitzgerald Cuts Advanced Micro Devices (NASDAQ:AMD) Price Target to $180.00

Advanced Micro Devices (NASDAQ:AMD) had its price objective trimmed by Cantor Fitzgerald from $200.00 to $180.00 in a research note released on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the semiconductor manufacturer’s stock. Cantor Fitzgerald also issued estimates for Advanced Micro Devices’ FY2024 earnings at $2.50 EPS.

Several other equities research analysts also recently commented on AMD. KeyCorp lowered their price objective on shares of Advanced Micro Devices from $230.00 to $220.00 and set an overweight rating for the company in a research note on Tuesday, July 9th. Wells Fargo & Company lifted their price objective on shares of 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 cut their price objective on shares of Advanced Micro Devices from $162.00 to $156.00 and set a hold rating for the company in a report on Wednesday. StockNews.com upgraded shares of Advanced Micro Devices from a sell rating to a hold rating in a research report on Thursday, July 18th. Finally, Roth Mkm lowered their price target on shares of Advanced Micro Devices from $190.00 to $180.00 and set a buy rating on the stock in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $193.45.

Advanced Micro Devices Price Performance

AMD stock opened at $132.50 on Wednesday. The firm has a 50 day moving average price of $160.41 and a 200-day moving average price of $167.82. Advanced Micro Devices has a 52-week low of $93.11 and a 52-week high of $227.30. The firm has a market capitalization of $214.45 billion, a price-to-earnings ratio of 194.86, a PEG ratio of 1.79 and a beta of 1.69. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.92 and a current ratio of 2.82.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 EPS for the quarter, topping the consensus estimate of $0.68 by $0.01. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 5.98%. The business had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.72 billion. During the same quarter in the previous year, the company earned $0.40 EPS. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. Equities research analysts forecast that Advanced Micro Devices will post 2.58 EPS for the current fiscal year.

Insider Buying and Selling

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,756 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $184.50, for a total value of $3,091,482.00. Following the sale, the executive vice president now directly owns 1,546,227 shares in the company, valued at $285,278,881.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,756 shares of Advanced Micro Devices stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $184.50, for a total value of $3,091,482.00. Following the transaction, the executive vice president now directly owns 1,546,227 shares of the company’s stock, valued at approximately $285,278,881.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark D. Papermaster sold 16,200 shares of Advanced Micro Devices stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $158.94, for a total value of $2,574,828.00. Following the completion of the transaction, the executive vice president now directly owns 1,546,227 shares in the company, valued at $245,757,319.38. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by insiders.

Institutional Trading of Advanced Micro Devices

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in 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 purchasing an additional 2,349,288 shares in the last quarter. Fisher Asset Management LLC raised its holdings in Advanced Micro Devices by 2.2% during the fourth quarter. Fisher Asset Management LLC now owns 28,368,826 shares of the semiconductor manufacturer’s stock valued at $4,181,849,000 after acquiring an additional 600,638 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Advanced Micro Devices by 10.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,675,684 shares of the semiconductor manufacturer’s stock worth $4,079,674,000 after purchasing an additional 2,553,392 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Advanced Micro Devices by 5.9% in the fourth quarter. Jennison Associates LLC now owns 26,886,280 shares of the semiconductor manufacturer’s stock worth $3,963,307,000 after purchasing an additional 1,490,997 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Advanced Micro Devices in the fourth quarter worth about $3,426,529,000. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Micro Devices Company Profile

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.