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

Advanced Micro Devices (NASDAQ:AMD) had its price target reduced by Cantor Fitzgerald from $200.00 to $180.00 in a research report released on Wednesday, Benzinga reports. They currently have 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 have also commented on the stock. UBS Group reduced their price target on shares of Advanced Micro Devices from $205.00 to $200.00 and set a buy rating for the company in a report on Wednesday, May 1st. Wells Fargo & Company upped their target price on Advanced Micro Devices from $190.00 to $205.00 and gave the stock an overweight rating in a report on Thursday, July 11th. Piper Sandler reiterated an overweight rating and issued a $175.00 price target (down from $195.00) on shares of Advanced Micro Devices in a report on Wednesday, May 1st. Robert W. Baird decreased their price objective on Advanced Micro Devices from $200.00 to $175.00 and set an outperform rating for the company in a research note on Wednesday. Finally, KeyCorp cut their target price on Advanced Micro Devices from $230.00 to $220.00 and set an overweight rating on the stock in a research note on Tuesday, July 9th. 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, the company currently has a consensus rating of Moderate Buy and a consensus price target of $193.45.

Advanced Micro Devices Stock Performance

Shares of NASDAQ:AMD opened at $132.50 on Wednesday. The company has a current ratio of 2.64, a quick ratio of 1.92 and a debt-to-equity ratio of 0.03. Advanced Micro Devices has a 12 month low of $93.11 and a 12 month high of $227.30. The company has a market capitalization of $214.16 billion, a price-to-earnings ratio of 194.86, a PEG ratio of 1.68 and a beta of 1.69. The firm’s 50-day moving average is $160.41 and its 200 day moving average is $167.75.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Advanced Micro Devices had a return on equity of 6.00% and a net margin of 5.82%. The company had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.72 billion. During the same quarter in the previous year, the business earned $0.40 EPS. Advanced Micro Devices’s revenue was up 8.9% compared to the same quarter last year. Research analysts predict that Advanced Micro Devices will post 2.6 EPS for the current year.

Insider Buying and Selling at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 16,756 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $184.50, for a total transaction of $3,091,482.00. Following the transaction, the executive vice president now directly owns 1,546,227 shares in the company, valued at $285,278,881.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction of $3,091,482.00. Following the transaction, the executive vice president now owns 1,546,227 shares of the company’s stock, valued at $285,278,881.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark D. Papermaster sold 16,200 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $158.94, for a total value of $2,574,828.00. Following the completion of the sale, the executive vice president now owns 1,546,227 shares of the company’s stock, 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 Investors Weigh In On Advanced Micro Devices

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tradewinds Capital Management LLC lifted its holdings in shares of Advanced Micro Devices by 102.9% in the 1st quarter. Tradewinds Capital Management LLC now owns 140 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 71 shares during the last quarter. Morton Brown Family Wealth LLC raised its position in Advanced Micro Devices by 94.4% in the second quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock valued at $27,000 after purchasing an additional 85 shares during the period. Northwest Bank & Trust Co acquired a new position in Advanced Micro Devices during the fourth quarter worth $28,000. Semmax Financial Advisors Inc. boosted its position in shares of Advanced Micro Devices by 926.7% during the first quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer’s stock worth $28,000 after buying an additional 139 shares during the period. Finally, Bare Financial Services Inc purchased a new position in shares of Advanced Micro Devices during the fourth quarter worth $29,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

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.