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

Key Points

• Cantor Fitzgerald has reaffirmed an overweight rating on Advanced Micro Devices (AMD) with a price target of $200.00, indicating a potential upside of 25.75% from current levels.
• AMD's stock is currently trading down 8.8%, with shares hitting $159.05 during mid-day trading on Wednesday.
• The company reported $7.69 billion in revenue for the last quarter, which exceeded estimates, although it missed EPS expectations with earnings of $0.48 per share.

Cantor Fitzgerald reaffirmed their overweight rating on shares of Advanced Micro Devices (NASDAQ:AMD - Free Report) in a research report released on Wednesday morning,Benzinga reports. Cantor Fitzgerald currently has a $200.00 price objective on the semiconductor manufacturer's stock. Cantor Fitzgerald also issued estimates for Advanced Micro Devices' FY2025 earnings at $3.20 EPS and FY2026 earnings at $5.46 EPS.

Other equities research analysts also recently issued reports about the company. Dbs Bank downgraded Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Roth Capital set a $150.00 price target on shares of Advanced Micro Devices and gave the stock a "buy" rating in a research note on Friday, June 13th. Truist Financial lifted their target price on shares of Advanced Micro Devices from $111.00 to $173.00 and gave the company a "hold" rating in a research note on Wednesday. Wells Fargo & Company lifted their target price on shares of Advanced Micro Devices from $120.00 to $185.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Finally, Evercore ISI lifted their target price on shares of Advanced Micro Devices from $144.00 to $188.00 and gave the company an "outperform" rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $178.56.

Advanced Micro Devices Stock Up 0.2%

Shares of AMD traded up $0.36 during mid-day trading on Wednesday, reaching $172.76. The company's stock had a trading volume of 68,723,246 shares, compared to its average volume of 66,889,100. The business has a fifty day moving average of $144.55 and a 200 day moving average of $118.21. The company has a market cap of $280.36 billion, a price-to-earnings ratio of 99.29, a price-to-earnings-growth ratio of 2.07 and a beta of 1.94. Advanced Micro Devices has a 1 year low of $76.48 and a 1 year high of $182.50. The company has a quick ratio of 1.97, a current ratio of 2.49 and a debt-to-equity ratio of 0.05.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced 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 7.54% and a net margin of 9.57%. The firm had revenue of $7.69 billion for the quarter, compared to analysts' expectations of $7.41 billion. During the same quarter in the prior year, the business posted $0.69 earnings per share. Advanced Micro Devices's revenue was up 31.7% on a year-over-year basis. As a group, analysts forecast that Advanced Micro Devices will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices announced that its board has initiated a stock buyback program on Wednesday, May 14th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its stock is undervalued.

Insider Activity

In other Advanced Micro Devices 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 value of $2,790,229.94. Following the sale, the executive vice president owned 1,713,710 shares in the company, valued at $265,676,461.30. This trade represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.06% of the company's stock.

Hedge Funds Weigh In On Advanced Micro Devices

Large investors have recently modified their holdings of the business. Kingstone Capital Partners Texas LLC bought a new position in Advanced Micro Devices during the second quarter worth $958,422,000. Goldman Sachs Group Inc. raised its stake in Advanced Micro Devices by 169.7% during the first quarter. Goldman Sachs Group Inc. now owns 9,855,341 shares of the semiconductor manufacturer's stock worth $1,012,538,000 after buying an additional 6,200,850 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in Advanced Micro Devices by 131.5% during the first quarter. T. Rowe Price Investment Management Inc. now owns 10,413,139 shares of the semiconductor manufacturer's stock worth $1,069,846,000 after buying an additional 5,915,185 shares during the last quarter. Toronto Dominion Bank increased its stake in Advanced Micro Devices by 443.3% in the fourth quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock valued at $660,475,000 after purchasing an additional 4,461,609 shares in the last quarter. Finally, Nuveen LLC bought a new stake in Advanced Micro Devices in the first quarter valued at $436,746,000. Institutional investors 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.