TD Cowen Has Lowered Expectations for Advanced Micro Devices (NASDAQ:AMD) Stock Price

Advanced Micro Devices (NASDAQ:AMD) had its price target trimmed by TD Cowen from $210.00 to $185.00 in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The firm currently has a buy rating on the semiconductor manufacturer’s stock.

A number of other equities analysts also recently commented on the company. KeyCorp dropped their price objective 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. Roth Mkm restated a “buy” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a report on Friday, October 11th. Piper Sandler increased their price objective on Advanced Micro Devices from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. BNP Paribas upgraded Advanced Micro Devices to a “strong-buy” rating in a report on Wednesday, July 31st. Finally, Edward Jones started coverage on Advanced Micro Devices in a report on Tuesday, August 20th. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $192.79.

Advanced Micro Devices Price Performance

Shares of AMD opened at $148.60 on Wednesday. The company has a market capitalization of $240.18 billion, a price-to-earnings ratio of 218.53, a P/E/G ratio of 2.33 and a beta of 1.70. Advanced Micro Devices has a fifty-two week low of $94.07 and a fifty-two week high of $227.30. 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 business’s 50-day moving average is $155.17 and its 200-day moving average is $156.03.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Maia Wealth LLC raised its stake in Advanced Micro Devices by 11.0% during the third quarter. Maia Wealth LLC now owns 1,375 shares of the semiconductor manufacturer’s stock worth $211,000 after acquiring an additional 136 shares in the last quarter. Centennial Wealth Advisory LLC acquired a new position in Advanced Micro Devices during the third quarter worth $223,000. Umpqua Bank raised its stake in Advanced Micro Devices by 20.5% during the third quarter. Umpqua Bank now owns 2,156 shares of the semiconductor manufacturer’s stock worth $354,000 after acquiring an additional 367 shares in the last quarter. Harvest Portfolios Group Inc. raised its stake in Advanced Micro Devices by 4.4% during the third quarter. Harvest Portfolios Group Inc. now owns 146,445 shares of the semiconductor manufacturer’s stock worth $24,029,000 after acquiring an additional 6,168 shares in the last quarter. Finally, Invictus Private Wealth LLC raised its stake in Advanced Micro Devices by 93.3% during the third quarter. Invictus Private Wealth LLC now owns 52,472 shares of the semiconductor manufacturer’s stock worth $8,610,000 after acquiring an additional 25,333 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

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.