Cantor Fitzgerald Reaffirms “Overweight” Rating for Advanced Micro Devices (NASDAQ:AMD)

Advanced Micro Devices (NASDAQ:AMD)‘s stock had its “overweight” rating reiterated by investment analysts at Cantor Fitzgerald in a research report issued on Wednesday,Benzinga reports. They presently have a $120.00 price target on the semiconductor manufacturer’s stock. Cantor Fitzgerald’s target price suggests a potential upside of 18.04% from the stock’s previous close.

Several other equities analysts have also commented on AMD. UBS Group dropped their price target on shares of Advanced Micro Devices from $175.00 to $155.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Seaport Res Ptn raised shares of Advanced Micro Devices to a “strong-buy” rating in a research report on Wednesday, April 30th. Argus set a $160.00 price target on shares of Advanced Micro Devices in a research report on Thursday, February 6th. Rosenblatt Securities reaffirmed a “buy” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a report on Wednesday. Finally, Benchmark reissued a “buy” rating and issued a $170.00 target price on shares of Advanced Micro Devices in a report on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Advanced Micro Devices has an average rating of “Moderate Buy” and a consensus target price of $131.13.

Advanced Micro Devices Stock Performance

Shares of AMD stock opened at $101.66 on Wednesday. The company has a market cap of $164.31 billion, a P/E ratio of 102.69, a PEG ratio of 1.11 and a beta of 1.97. The firm has a fifty day moving average price of $97.37 and a 200 day moving average price of $117.01. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. Advanced Micro Devices has a 12 month low of $76.48 and a 12 month high of $187.28.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. The business had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.10 billion. During the same period in the prior year, the firm posted $0.62 EPS. The business’s quarterly revenue was up 35.9% compared to the same quarter last year. Sell-side analysts predict that Advanced Micro Devices will post 3.87 earnings per share for the current fiscal year.

Insider Transactions at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,500 shares of the firm’s stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total value of $1,670,725.00. Following the completion of the sale, the executive vice president now owns 1,713,710 shares in the company, valued at $163,607,893.70. This trade represents a 1.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Advanced Micro Devices by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer’s stock valued at $18,143,884,000 after purchasing an additional 1,441,626 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Advanced Micro Devices by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 35,079,256 shares of the semiconductor manufacturer’s stock valued at $4,224,840,000 after buying an additional 835,413 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Advanced Micro Devices by 1.2% in the fourth quarter. Fisher Asset Management LLC now owns 24,086,020 shares of the semiconductor manufacturer’s stock valued at $2,909,350,000 after buying an additional 290,784 shares in the last quarter. Norges Bank acquired a new position in shares of Advanced Micro Devices during the 4th quarter worth $2,867,193,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Advanced Micro Devices by 9.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,401,436 shares of the semiconductor manufacturer’s stock worth $2,585,079,000 after buying an additional 1,929,225 shares in the last quarter. 71.34% of the stock is 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.