AMD – Advanced Micro Devices (NASDAQ:AMD) on Tuesday evening reported fourth-quarter 2023 adjusted EPS (non-GAAP) up 12% to 77 cents and adjusted gross margin stable at 51%, on revenues up 10% to 6.17 billion.

“We ended 2023 on a strong note, thanks to record quarterly sales of AMD Instinct GPUs and EPYC CPUs, as well as higher sales of AMD Ryzen processors,” emphasizes President and CEO Lisa Su.

For the first quarter of 2024, the semiconductor manufacturer expects sales of around $5.4 billion, give or take $300 million, and expects a non-GAAP gross margin of around 52%.

Goldman Sachs Raises AMD’s Price Target to $180 From $157, Keeps Buy Rating.

JPMorgan Raises AMD’s Price Target to $180 From $115, Keeps Neutral Rating.

Citigroup Raises AMD’s Price Target to $192 From $136, Keeps Buy Rating.

The broker UBS is keeping its Buy rating. The target price is reduced from USD 220 to USD 205.