Advanced Micro Devices (NASDAQ:AMD) Shares Up 6.6% – Time to Buy?

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) traded up 6.6% on Monday . The stock traded as high as $572.50 and last traded at $552.05. 29,587,268 shares changed hands during trading, a decline of 21% from the average session volume of 37,501,375 shares. The stock had previously closed at $517.82.

Key Advanced Micro Devices News

Here are the key news stories impacting Advanced Micro Devices this week:

• Positive Sentiment: Goldman Sachs raised its AMD price target and reiterated a Buy rating, boosting confidence that AI-related demand and server CPU growth can keep accelerating. AMD, Nvidia, Micron, Oracle, Dell, Intel, and More Stocks That Explain Today’s Market
• Positive Sentiment: Wells Fargo raised its AMD price target and kept an Overweight rating, citing strong EPYC server CPU demand and pricing upside. Wells Fargo Lifts PT on Advanced Micro Devices (AMD) – Here’s Why
• Positive Sentiment: AMD announced a partnership with Turing that expands its reach into self-driving technology, with Turing using AMD GPUs for AI training and AMD Ventures backing the startup. AMD Gains AI Customer as $600 Million Self-Driving Startup Adopts Its GPUs
• Neutral Sentiment: The broader chip rally is supporting AMD, as AI-related semiconductor stocks rebound and lift the sector overall. The AI Trade Is Off to a Hot Start This Week as Chip, Memory Stocks Surge
• Neutral Sentiment: Commentary suggesting AMD could narrow the gap with Nvidia is adding to upbeat sentiment, but this is more narrative-driven than a direct business update. Forget Nvidia: AMD Might Close the Gap Faster Than Anyone on Wall Street Expects

Analyst Upgrades and Downgrades

A number of equities analysts have commented on AMD shares. Stifel Nicolaus lifted their target price on shares of Advanced Micro Devices from $320.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. UBS Group raised their price target on shares of Advanced Micro Devices from $455.00 to $670.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Morgan Stanley lifted their price target on shares of Advanced Micro Devices from $360.00 to $410.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Oppenheimer cut Advanced Micro Devices from a “market perform” rating to a “market perform” rating in a report on Wednesday, May 6th. Finally, Seaport Research Partners upgraded Advanced Micro Devices from a “neutral” rating to a “buy” rating and set a $430.00 price objective for the company in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $453.92.

Advanced Micro Devices Stock Up 6.6%

The business’s 50 day moving average price is $470.75 and its 200-day moving average price is $308.01. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.96 and a current ratio of 2.72. The firm has a market capitalization of $900.17 billion, a PE ratio of 181.00, a P/E/G ratio of 1.53 and a beta of 2.47.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.08. Advanced Micro Devices had a net margin of 13.37% and a return on equity of 9.55%. The firm had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $9.90 billion. During the same quarter last year, the company posted $0.96 EPS. The firm’s quarterly revenue was up 37.8% on a year-over-year basis. As a group, equities research analysts forecast that Advanced Micro Devices, Inc. will post 6.15 earnings per share for the current year.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Forrest Eugene Norrod sold 19,487 shares of Advanced Micro Devices stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $431.40, for a total value of $8,406,691.80. Following the completion of the sale, the executive vice president directly owned 324,527 shares of the company’s stock, valued at approximately $140,000,947.80. The trade was a 5.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lisa T. Su sold 125,000 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $460.69, for a total value of $57,586,250.00. Following the transaction, the chief executive officer directly owned 2,896,899 shares in the company, valued at approximately $1,334,572,400.31. The trade was a 4.14% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 374,739 shares of company stock valued at $161,135,671. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

A number of hedge funds have recently added to or reduced their stakes in the business. jvl associates llc purchased a new stake in Advanced Micro Devices during the 2nd quarter worth about $456,000. Hobart Private Capital LLC increased its holdings in shares of Advanced Micro Devices by 18.7% in the 2nd quarter. Hobart Private Capital LLC now owns 4,825 shares of the semiconductor manufacturer’s stock valued at $2,803,000 after acquiring an additional 761 shares during the last quarter. Sincerus Advisory LLC acquired a new stake in shares of Advanced Micro Devices during the 2nd quarter worth about $358,000. Vigilare Wealth Management purchased a new stake in Advanced Micro Devices during the second quarter worth approximately $271,000. Finally, RDA Financial Network acquired a new position in Advanced Micro Devices in the second quarter valued at approximately $533,000. 71.34% of the stock is currently owned by institutional investors and hedge funds.

About Advanced Micro Devices

Advanced Micro Devices, Inc (NASDAQ: AMD) is a global semiconductor company that designs and sells microprocessors, graphics processors, chipsets and adaptive computing solutions for a broad set of markets. The company’s product portfolio includes consumer and commercial CPUs under the Ryzen and Threadripper brands, data center processors under the EPYC brand, and Radeon graphics processing units for gaming and professional visualization. AMD also offers semi-custom system-on-chip (SoC) products for gaming consoles and other specialized applications, and provides supporting software and platform technologies for OEMs, cloud service providers and end users.

Founded in 1969, AMD has evolved from a supplier of logic chips into a diversified, fabless semiconductor designer.