Melius Research Upgrades AMD’s Outlook
Fintel reports that on January 8, 2024, Melius Research upgraded their perspective for Advanced Micro Devices (NasdaqGS:AMD) from Hold to Buy.
Analyst Price Forecast Indicates Moderate Downside
As of December 16, 2023, the average one-year price target for Advanced Micro Devices is 135.06. The forecasts range from a low of 60.60 to a high of $210.00. This average price target represents a 2.54% decrease from its latest reported closing price of 138.58.
Growth Projections and Fund Sentiment
The projected annual revenue for Advanced Micro Devices is 28,980MM, showing an increase of 31.07%. The projected annual non-GAAP EPS is 4.82.
Fund Sentiment Indicators
There are 3294 funds or institutions reporting positions in Advanced Micro Devices, representing an increase of 33 owner(s) or 1.01% in the last quarter. The average portfolio weight of all funds dedicated to AMD is 0.66%, a decrease of 3.37%. Total shares owned by institutions decreased in the last three months by 1.48% to 1,220,092K shares.
Shareholder Activity
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 50,297K shares representing 3.11% ownership of the company. The firm reported owning 50,219K shares in its prior filing, showing an increase of 0.15%. The firm decreased its portfolio allocation in AMD by 6.17% over the last quarter.
Background Information on Advanced Micro Devices
For more than 50 years, AMD has driven innovation in high-performance computing, graphics, and visualization technologies. Their technology is relied upon daily by hundreds of millions of consumers, leading Fortune 500 businesses, and cutting-edge scientific research facilities around the world to improve how they live, work, and play.
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