Advanced Micro Devices (NASDAQ:AMD) Given Overweight Rating at Cantor Fitzgerald

Advanced Micro Devices (NASDAQ:AMD - Get Free Report)'s stock had its "overweight" rating reaffirmed by Cantor Fitzgerald in a note issued to investors on Wednesday,Benzinga reports. They presently have a $200.00 price target on the semiconductor manufacturer's stock. Cantor Fitzgerald's price objective points to a potential upside of 25.75% from the stock's current price.

• AMD’s Results Sparked a Sell-Off—But That’s Your Buy Signal

Several other research firms have also commented on AMD. Roth Capital set a $150.00 price objective on Advanced Micro Devices and gave the company a "buy" rating in a research report on Friday, June 13th. Erste Group Bank upgraded Advanced Micro Devices from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Robert W. Baird lowered their target price on Advanced Micro Devices from $175.00 to $140.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Susquehanna raised their target price on Advanced Micro Devices from $135.00 to $210.00 and gave the company a "positive" rating in a research note on Wednesday, July 30th. Finally, Truist Financial raised their target price on Advanced Micro Devices from $111.00 to $173.00 and gave the company a "hold" rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, Advanced Micro Devices has a consensus rating of "Moderate Buy" and a consensus target price of $176.10.

Get Our Latest Analysis on AMD

Advanced Micro Devices Trading Down 8.8%

• AMD Outperforming NVIDIA: What’s Behind It and Can It Continue?

Shares of AMD stock traded down $15.26 during mid-day trading on Wednesday, hitting $159.05. 48,802,468 shares of the company's stock were exchanged, compared to its average volume of 45,022,707. Advanced Micro Devices has a fifty-two week low of $76.48 and a fifty-two week high of $182.50. The stock has a 50-day simple moving average of $141.11 and a two-hundred day simple moving average of $117.23. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.06. The stock has a market cap of $257.88 billion, a price-to-earnings ratio of 116.73, a PEG ratio of 2.34 and a beta of 1.94.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.06). Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. The business had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.41 billion. During the same quarter last year, the business earned $0.69 EPS. Advanced Micro Devices's revenue for the quarter was up 31.7% compared to the same quarter last year. Equities analysts expect that Advanced Micro Devices will post 3.87 EPS for the current fiscal year.

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Advanced Micro Devices declared that its board has initiated a stock buyback program on Wednesday, May 14th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its stock is undervalued.

Insider Transactions at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,998 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $155.03, for a total transaction of $2,790,229.94. Following the completion of the sale, the executive vice president owned 1,713,710 shares of the company's stock, valued at approximately $265,676,461.30. This trade represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.06% of the stock is owned by company insiders.

Institutional Trading of Advanced Micro Devices

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Cornerstone Advisory LLC boosted its stake in Advanced Micro Devices by 1.4% in the second quarter. Cornerstone Advisory LLC now owns 4,271 shares of the semiconductor manufacturer's stock valued at $606,000 after acquiring an additional 57 shares during the last quarter. Tritonpoint Wealth LLC boosted its stake in Advanced Micro Devices by 2.6% in the second quarter. Tritonpoint Wealth LLC now owns 2,857 shares of the semiconductor manufacturer's stock valued at $405,000 after acquiring an additional 72 shares during the last quarter. Avion Wealth boosted its stake in Advanced Micro Devices by 49.3% in the second quarter. Avion Wealth now owns 218 shares of the semiconductor manufacturer's stock valued at $30,000 after acquiring an additional 72 shares during the last quarter. Scott & Selber Inc. boosted its position in shares of Advanced Micro Devices by 0.7% during the second quarter. Scott & Selber Inc. now owns 10,465 shares of the semiconductor manufacturer's stock worth $1,485,000 after purchasing an additional 73 shares in the last quarter. Finally, Sandy Cove Advisors LLC boosted its position in shares of Advanced Micro Devices by 1.4% during the second quarter. Sandy Cove Advisors LLC now owns 5,470 shares of the semiconductor manufacturer's stock worth $776,000 after purchasing an additional 75 shares in the last quarter. 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.

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