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

Advanced Micro Devices (NASDAQ:AMD) had its price target lowered by Cantor Fitzgerald from $200.00 to $180.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage 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.

A number of other research analysts have also recently weighed in on the stock. Mizuho dropped their price objective on shares of Advanced Micro Devices from $235.00 to $215.00 and set a buy rating for the company in a report on Wednesday, May 1st. Barclays decreased their price target on shares of Advanced Micro Devices from $235.00 to $180.00 and set an overweight rating for the company in a research note on Monday, July 29th. Piper Sandler reiterated an overweight rating and issued a $175.00 price target (down previously from $195.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 1st. Wells Fargo & Company boosted their price objective on shares of Advanced Micro Devices from $190.00 to $205.00 and gave the stock an overweight rating in a research report on Thursday, July 11th. Finally, Citigroup boosted their price objective on shares of Advanced Micro Devices from $176.00 to $210.00 and gave the stock a buy rating in a research report on Monday, July 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Advanced Micro Devices currently has an average rating of Moderate Buy and a consensus target price of $193.45.

Advanced Micro Devices Stock Down 0.0 %

NASDAQ:AMD opened at $132.50 on Wednesday. The firm has a market capitalization of $214.45 billion, a P/E ratio of 194.86, a PEG ratio of 1.79 and a beta of 1.69. Advanced Micro Devices has a 1-year low of $93.11 and a 1-year high of $227.30. The company’s fifty day moving average price is $160.41 and its 200-day moving average price is $167.82. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.82 and a quick ratio of 1.92.

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 the consensus estimate of $0.68 by $0.01. The business had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.72 billion. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 5.98%. The company’s revenue was up 8.9% compared to the same quarter last year. During the same period last year, the firm posted $0.40 earnings per share. As a group, equities research analysts anticipate that Advanced Micro Devices will post 2.58 EPS for the current year.

Insider Activity

In other news, EVP Mark D. Papermaster sold 16,756 shares of Advanced Micro Devices stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 1,546,227 shares in the company, valued at approximately $285,278,881.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Mark D. Papermaster sold 16,756 shares of the business’s 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 completion of the sale, the executive vice president now directly owns 1,546,227 shares in the company, valued at approximately $285,278,881.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark D. Papermaster sold 16,200 shares of the business’s 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 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 owned by corporate insiders.

Hedge Funds Weigh In On Advanced Micro Devices

Institutional investors and hedge funds have recently bought and sold shares of the business. Hudock Inc. raised its position in shares of Advanced Micro Devices by 6.2% during the second quarter. Hudock Inc. now owns 3,131 shares of the semiconductor manufacturer’s stock worth $508,000 after purchasing an additional 184 shares during the period. 9258 Wealth Management LLC raised its position in Advanced Micro Devices by 4.5% in the 2nd quarter. 9258 Wealth Management LLC now owns 11,487 shares of the semiconductor manufacturer’s stock valued at $1,863,000 after buying an additional 494 shares during the last quarter. Hohimer Wealth Management LLC raised its position in Advanced Micro Devices by 3.9% in the 2nd quarter. Hohimer Wealth Management LLC now owns 2,647 shares of the semiconductor manufacturer’s stock valued at $429,000 after buying an additional 100 shares during the last quarter. First Dallas Securities Inc. acquired a new stake in Advanced Micro Devices in the 2nd quarter valued at approximately $503,000. Finally, Journey Advisory Group LLC raised its position in Advanced Micro Devices by 2.3% in the 2nd quarter. Journey Advisory Group LLC now owns 4,490 shares of the semiconductor manufacturer’s stock valued at $728,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds 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.