Analysts are Slashing Price Targets of These 5 Semiconductor Stocks

2. Advanced Micro Devices, Inc. (NASDAQ:AMD)

Number of Hedge Fund Holders: 83

Advanced Micro Devices, Inc. (NASDAQ:AMD) is Santa Clara, California-based semiconductor company that manufactures products such as Adaptive SOCs, CPUs, FPGAs, and GPUs.

In a note issued on July 11, Blayne Curtis at Barclays slashed the price target on Advanced Micro Devices, Inc. (NASDAQ:AMD) by $40 to $85 and maintained an Equal Weight rating on the stock. The revised target price provides a modest potential upside of nearly 4.8% from the most recent closing price as of July 15. The analyst highlighted the expected weakness during the second half of 2022 and the weakening demand for notebook computers during June 2022 as the reason for lowering the target price. Curtis expects the decline in notebook production to be around 17% YoY as opposed to the prior expectation of a decline of 12% YoY. The analyst also highlighted that Advanced Micro Devices, Inc. (NASDAQ:AMD) maintained its guidance for Q2 2022 during its investor day.

Carillon Tower Advisers shared its stance on Advanced Micro Devices, Inc. (NASDAQ:AMD) in its Q4 2021 investor letter. Here’s what the firm said:

“Advanced Micro Devices (AMD) supplies semiconductor chips for central processing units (CPUs) and graphic processing units (GPUs). The firm has been gaining share against its primary competitor in the datacenter server CPU space, as this rival has been unable to match the design and manufacturing capabilities of AMD and its partners. Investors are also looking forward to the closing of the previously announced merger with a semiconductor manufacturer that is another one of the portfolio’s holdings. The merger will increase AMD’s capabilities in the Field Programmable Gate Array (FPGA) chip space, and the combined company should possess the potential to win additional market share in the datacenter chip market.”

Overall, 83 hedge funds reported owning a stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) as of Q1 2022.