Advanced Micro Devices (NASDAQ:AMD) Trading Up 2% Following Analyst Upgrade

Advanced Micro Devices, Inc. (NASDAQ:AMD) was up 2% during mid-day trading on Friday after Stifel Nicolaus raised their price target on the stock from $450.00 to $635.00. Stifel Nicolaus currently has a buy rating on the stock. Advanced Micro Devices traded as high as $560.25 and last traded at $557.89. Approximately 20,576,522 shares were traded during mid-day trading, a decline of 45% from the average session volume of 37,129,887 shares. The stock had previously closed at $546.72.

AMD has been the topic of several other research reports. Weiss Ratings upgraded Advanced Micro Devices from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Northland Securities reissued a “market perform” rating and set a $260.00 price target on shares of Advanced Micro Devices in a research note on Monday, April 27th. Loop Capital raised Advanced Micro Devices to a “strong-buy” rating in a research report on Tuesday, June 16th. HSBC cut shares of Advanced Micro Devices from a “buy” rating to a “hold” rating and increased their price objective for the stock from $335.00 to $340.00 in a research report on Monday, May 4th. Finally, Royal Bank Of Canada raised their target price on Advanced Micro Devices from $325.00 to $400.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $458.92.

Insider Transactions at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 6,000 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $536.33, for a total transaction of $3,217,980.00. Following the completion of the sale, the executive vice president owned 1,233,687 shares in the company, valued at approximately $661,663,348.71. This represents a 0.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Forrest Eugene Norrod sold 19,487 shares of the stock in a transaction on Wednesday, May 20th. The shares were 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 $140,000,947.80. The trade was a 5.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 374,739 shares of company stock valued at $161,135,671. Corporate insiders own 0.50% of the company’s stock.

Advanced Micro Devices News Roundup

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

• Positive Sentiment: Stifel raised AMD’s price target to $635 and expects a Q2 “beat-and-raise,” highlighting strong EPYC server CPU demand and AI exposure.
• Positive Sentiment: Goldman Sachs and other firms have also increased their AMD targets, reinforcing Wall Street’s bullish view on the company’s AI and data-center growth.
• Positive Sentiment: AMD announced a new AI campus partnership, adding to optimism that the company is winning larger infrastructure deals as AI spending accelerates.
• Neutral Sentiment: AMD set Aug. 4 as the date for its next earnings release, which is keeping traders focused on whether the company can back up the bullish estimates.
• Neutral Sentiment: ARK Invest sold AMD shares, but the move appears more like portfolio rebalancing than a company-specific warning.
• Negative Sentiment: Some commentary flagged rising competition from Nvidia and Intel, which could limit how long AMD’s recent rally can continue.

Institutional Trading of Advanced Micro Devices

Large investors have recently added to or reduced their stakes in the stock. Joseph Group Capital Management bought a new stake in Advanced Micro Devices during the 4th quarter valued at approximately $25,000. Sarver Vrooman Wealth Advisors bought a new position in Advanced Micro Devices in the fourth quarter worth $27,000. Cornerstone Financial Management LLC bought a new position in Advanced Micro Devices in the fourth quarter worth $27,000. Basepoint Wealth LLC purchased a new position in Advanced Micro Devices during the fourth quarter valued at $30,000. Finally, Graney & King LLC bought a new stake in shares of Advanced Micro Devices during the 1st quarter valued at $31,000. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Stock Up 2.0%

The stock’s 50-day moving average price is $487.19 and its two-hundred day moving average price is $317.24. The stock has a market capitalization of $909.70 billion, a PE ratio of 182.92, a P/E/G ratio of 1.53 and a beta of 2.47. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.96 and a current ratio of 2.72.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.08. The business had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $9.90 billion. Advanced Micro Devices had a net margin of 13.37% and a return on equity of 9.55%. The business’s revenue for the quarter was up 37.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.96 earnings per share. As a group, analysts expect that Advanced Micro Devices, Inc. will post 6.15 EPS for the current fiscal year.

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.