Fintel reports that on August 2, 2023, Citigroup upgraded their outlook for Advanced Micro Devices (NASDAQ:AMD) from Neutral to Buy.

Analyst Price Forecast Suggests 16.27% Upside

As of July 5, 2023, the average one-year price target for Advanced Micro Devices is 133.01. The forecasts range from a low of 60.60 to a high of $210.00. The average price target represents an increase of 16.27% from its latest reported closing price of 114.40.

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The projected annual revenue for Advanced Micro Devices is 25,222MM, an increase of 15.30%. The projected annual non-GAAP EPS is 3.69.

What is the Fund Sentiment?

There are 3139 funds or institutions reporting positions in Advanced Micro Devices. This is an increase of 202 owner(s) or 6.88% in the last quarter. Average portfolio weight of all funds dedicated to AMD is 0.70%, an increase of 16.75%. Total shares owned by institutions increased in the last three months by 0.74% to 1,260,089K shares. The put/call ratio of AMD is 0.97, indicating a bullish outlook.

What are Other Shareholders Doing?

Price T Rowe Associates holds 55,228K shares representing 3.43% ownership of the company. In it’s prior filing, the firm reported owning 50,873K shares, representing an increase of 7.88%. The firm increased its portfolio allocation in AMD by 52.87% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 49,913K shares representing 3.10% ownership of the company. In it’s prior filing, the firm reported owning 49,016K shares, representing an increase of 1.80%. The firm increased its portfolio allocation in AMD by 42.28% over the last quarter.

VFINX – Vanguard 500 Index Fund Investor Shares holds 37,623K shares representing 2.34% ownership of the company. In it’s prior filing, the firm reported owning 37,273K shares, representing an increase of 0.93%. The firm increased its portfolio allocation in AMD by 41.65% over the last quarter.

Jpmorgan Chase holds 36,168K shares representing 2.25% ownership of the company. In it’s prior filing, the firm reported owning 40,875K shares, representing a decrease of 13.01%. The firm increased its portfolio allocation in AMD by 23.73% over the last quarter.

Geode Capital Management holds 29,631K shares representing 1.84% ownership of the company. In it’s prior filing, the firm reported owning 29,113K shares, representing an increase of 1.75%. The firm increased its portfolio allocation in AMD by 42.44% 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.

This article originally appeared on Fintel

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