Fintel reports that on January 8, 2024, Melius Research upgraded their outlook for Advanced Micro Devices (NasdaqGS:AMD) from Hold to Buy .
Analyst Price Forecast Suggests 2.54% 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. The average price target represents a decrease of 2.54% from its latest reported closing price of 138.58.
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The projected annual revenue for Advanced Micro Devices is 28,980MM, an increase of 31.07%. The projected annual non-GAAP EPS is 4.82.
What is the Fund Sentiment?
There are 3294 funds or institutions reporting positions in Advanced Micro Devices. This is an increase of 33 owner(s) or 1.01% in the last quarter. 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. 
The put/call ratio of AMD is 1.07, indicating a bearish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 50,297K shares representing 3.11% ownership of the company. In it's prior filing, the firm reported owning 50,219K shares, representing an increase of 0.15%. The firm decreased its portfolio allocation in AMD by 6.17% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 38,824K shares representing 2.40% ownership of the company. In it's prior filing, the firm reported owning 38,342K shares, representing an increase of 1.24%. The firm decreased its portfolio allocation in AMD by 6.42% over the last quarter.
Jpmorgan Chase holds 35,810K shares representing 2.22% ownership of the company. In it's prior filing, the firm reported owning 32,605K shares, representing an increase of 8.95%. The firm increased its portfolio allocation in AMD by 0.66% over the last quarter.
Geode Capital Management holds 31,104K shares representing 1.93% ownership of the company. In it's prior filing, the firm reported owning 30,401K shares, representing an increase of 2.26%. The firm decreased its portfolio allocation in AMD by 6.35% over the last quarter.
Fisher Asset Management holds 27,768K shares representing 1.72% ownership of the company. In it's prior filing, the firm reported owning 26,970K shares, representing an increase of 2.87%. The firm decreased its portfolio allocation in AMD by 4.66% over the last quarter.
Advanced Micro Devices Background Information
(This description is provided by the company.)
For more than 50 years, AMD has driven innovation in high-performance computing, graphics and visualization technologies - the building blocks for gaming, immersive platforms and the data center. Hundreds of millions of consumers, leading Fortune 500 businesses and cutting-edge scientific research facilities around the world rely on AMD technology daily to improve how they live, work and play. AMD employees around the world are focused on building great products that push the boundaries of what is possible.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
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This story originally appeared on Fintel.
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