Advanced Micro Devices (NASDAQ:AMD) Sets New 52-Week High – What’s Next?

Advanced Micro Devices, Inc. (NASDAQ:AMD) reached a new 52-week high on Tuesday . The stock traded as high as $564.76 and last traded at $553.7030, with a volume of 3830284 shares. The stock had previously closed at $539.49.

Advanced Micro Devices News Roundup

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

• Positive Sentiment: Wall Street remains bullish on AMD, with multiple analysts lifting price targets on strong AI-driven data center and server CPU demand, including Wells Fargo’s raise to $615 and other recent hikes. This Analyst Just Raised the Price Target on AMD Stock. Here’s Why.
• Positive Sentiment: AMD’s AI and data center story is still expanding, including new Versal Premium Gen 2 chips aimed at compact AI, networking, defense and video systems. AMD Expands AI Reach With Versal Premium Gen 2 MoP SoCs: What’s Ahead?
• Positive Sentiment: The company is still getting support from bullish commentary that highlights AMD as a key beneficiary of AI infrastructure spending and a rising competitor in the AI CPU market. Micron, Intel and AMD add $2 trillion in value in Q2 rally
• Neutral Sentiment: AMD also boosted executive pay to help retain leadership, a governance move that is not likely to be a major near-term driver for the stock. AMD Boosts Executive Pay to Support Leadership Retention
• Negative Sentiment: AMD is giving back some of its recent gains as investors lock in profits after an extraordinary AI-led surge and a new high, while broader chip stocks also retreat. Advanced Micro Devices (AMD) Dips More Than Broader Market: What You Should Know
• Negative Sentiment: Some market coverage is warning that the semiconductor rally may be getting overheated, with valuation concerns and “bubble risk” weighing on sentiment across the sector. Bank of America warns of tougher stock market in near future

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Truist Financial set a $478.00 target price on Advanced Micro Devices in a report on Wednesday, May 6th. Oppenheimer downgraded Advanced Micro Devices from a “market perform” rating to a “market perform” rating in a research report on Wednesday, May 6th. Susquehanna boosted their price objective on Advanced Micro Devices from $375.00 to $450.00 and gave the stock a “positive” rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. increased their target price on Advanced Micro Devices from $270.00 to $385.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Finally, Raymond James Financial assumed coverage on Advanced Micro Devices in a research note on Wednesday, May 6th. They issued a “market perform” rating for the company. Two investment 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $448.78.

Advanced Micro Devices Stock Down 6.9%

The firm’s 50-day simple moving average is $461.80 and its 200 day simple moving average is $303.66. The company has a market cap of $881.96 billion, a P/E ratio of 177.34, a PEG ratio of 1.71 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 analysts’ consensus estimates of $1.29 by $0.08. The firm had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $9.90 billion. Advanced Micro Devices had a return on equity of 9.55% and a net margin of 13.37%.The company’s revenue was up 37.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.96 earnings per share. On average, research analysts forecast that Advanced Micro Devices, Inc. will post 6.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Forrest Eugene Norrod sold 19,487 shares of Advanced Micro Devices stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $431.40, for a total transaction of $8,406,691.80. Following the transaction, the executive vice president owned 324,527 shares of the company’s stock, valued at $140,000,947.80. This trade represents a 5.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nora Denzel sold 8,626 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $522.00, for a total transaction of $4,502,772.00. Following the transaction, the director owned 87,173 shares of the company’s stock, valued at approximately $45,504,306. This represents a 9.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 378,032 shares of company stock worth $161,876,596 over the last ninety days. Company insiders own 0.50% of the company’s stock.

Institutional Trading of Advanced Micro Devices

Several hedge funds have recently added to or reduced their stakes in the business. Jefferies Financial Group Inc. boosted its holdings in Advanced Micro Devices by 6,228.8% during the fourth quarter. Jefferies Financial Group Inc. now owns 308,021 shares of the semiconductor manufacturer’s stock worth $65,966,000 after purchasing an additional 303,154 shares during the last quarter. Williamson Legacy Group LLC bought a new position in Advanced Micro Devices in the fourth quarter valued at $1,118,000. Thoroughbred Financial Services LLC increased its stake in Advanced Micro Devices by 8.8% in the 4th quarter. Thoroughbred Financial Services LLC now owns 32,827 shares of the semiconductor manufacturer’s stock valued at $7,030,000 after buying an additional 2,654 shares during the last quarter. Boomfish Wealth Group LLC acquired a new stake in Advanced Micro Devices in the 1st quarter valued at $1,193,000. Finally, Valtinson Bruner Financial Planning LLC bought a new stake in Advanced Micro Devices during the 4th quarter worth about $1,523,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

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.