Melius Research Raises the Bar for Advanced Micro Devices (AMD) Melius Research Raises the Bar for Advanced Micro Devices (AMD)

Written By Michael Gary Scott

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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