Evercore ISI Forecasts Strong Price Appreciation for Advanced Micro Devices (NASDAQ:AMD) Stock

Advanced Micro Devices (NASDAQ:AMD) had its price target boosted by investment analysts at Evercore ISI from $193.00 to $198.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the semiconductor manufacturer’s stock. Evercore ISI’s price target indicates a potential upside of 31.65% from the stock’s current price.

A number of other research analysts have also weighed in on AMD. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $180.00 target price on shares of Advanced Micro Devices in a report on Monday, October 7th. KeyCorp decreased their target price on shares of Advanced Micro Devices from $230.00 to $220.00 and set an “overweight” rating on the stock in a report on Tuesday, July 9th. TD Cowen cut their price target on shares of Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday. Wells Fargo & Company lifted their price objective on Advanced Micro Devices from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Finally, BNP Paribas upgraded shares of Advanced Micro Devices to a “strong-buy” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and a consensus price target of $193.83.

Advanced Micro Devices Stock Performance

NASDAQ AMD traded down $15.85 on Wednesday, hitting $150.40. 41,621,684 shares of the stock traded hands, compared to its average volume of 56,641,477. The firm has a market capitalization of $243.09 billion, a price-to-earnings ratio of 222.07, a PEG ratio of 2.33 and a beta of 1.70. The business’s fifty day moving average is $155.35 and its two-hundred day moving average is $156.08. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.01 and a current ratio of 2.82. Advanced Micro Devices has a 12 month low of $94.07 and a 12 month high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.92. The business had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.71 billion. Advanced Micro Devices had a return on equity of 5.98% and a net margin of 5.82%. The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.53 EPS. As a group, equities analysts anticipate that Advanced Micro Devices will post 2.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Advanced Micro Devices

A number of hedge funds have recently modified their holdings of AMD. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Advanced Micro Devices by 59.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 309,561 shares of the semiconductor manufacturer’s stock worth $50,214,000 after acquiring an additional 116,020 shares during the last quarter. Wesbanco Bank Inc. raised its position in Advanced Micro Devices by 15.7% during the third quarter. Wesbanco Bank Inc. now owns 155,558 shares of the semiconductor manufacturer’s stock valued at $25,524,000 after purchasing an additional 21,132 shares during the period. St. Louis Financial Planners Asset Management LLC purchased a new position in shares of Advanced Micro Devices in the 3rd quarter worth approximately $2,394,000. Sycomore Asset Management increased its position in shares of Advanced Micro Devices by 28.6% during the 2nd quarter. Sycomore Asset Management now owns 137,883 shares of the semiconductor manufacturer’s stock valued at $21,722,000 after purchasing an additional 30,677 shares during the last quarter. Finally, Custom Index Systems LLC purchased a new stake in Advanced Micro Devices during the 3rd quarter valued at $559,000. 71.34% of the stock is currently owned by institutional investors.

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.