Several hedge funds have changed their investments in Advanced Micro Devices (AMD). British Columbia Investment Management Corp increased its stake by 59.9% in Q2, now holding 309,561 shares worth $50.2 million. Chapin Davis Inc. boosted its position by 613.4% in Q1, owning 12,263 shares valued at $2.2 million. Wesbanco Bank Inc. raised its holdings by 15.7% in Q3, now having 155,558 shares worth $25.5 million. St. Louis Financial Planners purchased shares valued at $2.4 million in Q3. Sycomore Asset Management upped their stake by 28.6% in Q2, owning 137,883 shares worth $21.7 million. Overall, institutional investors hold 71.34% of AMD’s stock.
Analyst Ratings
Analysts have provided varied insights on AMD stock. Barclays reduced their price target from $235 to $180 while maintaining an “overweight” rating. Wells Fargo raised their target from $190 to $205 with an “overweight” rating. StockNews.com downgraded AMD from “hold” to “sell.” Robert W. Baird lowered their target from $200 to $175 with an “outperform” rating. Piper Sandler increased their prediction from $175 to $200 and reaffirmed an “overweight” rating. Currently, AMD has one “sell,” three “hold,” twenty-seven “buy,” and two “strong buy” ratings, with a consensus rating of “Moderate Buy” and a price target of $195.
Stock Performance
AMD’s stock opened at $155.97. The 50-day moving average is $153.86 and the 200-day is $156.62. The company has a low of $93.11 and a high of $227.30 over the past year, with a market cap of $252.1 billion. Its P/E ratio stands at 229.37. In Q2, AMD reported earnings per share of $0.69, exceeding the $0.68 estimate, with revenue of $5.84 billion, outpacing the expected $5.72 billion. Year-over-year revenue increased by 8.9%. Analysts forecast an EPS of 2.56 for the current year.
Company Profile
Advanced Micro Devices, Inc. is a global semiconductor company operating in various segments, including Data Center, Client, Gaming, and Embedded. They provide microprocessors, GPUs, chipsets, and custom SoCs, among other technologies.
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