Advanced Micro Devices (NASDAQ:AMD) Trading 1.6% Higher on Analyst Upgrade

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares were up 1.6% on Monday after Wall Street Zen upgraded the stock from a hold rating to a buy rating. The company traded as high as $522.44 and last traded at $503.57. Approximately 23,245,849 shares traded hands during mid-day trading, a decline of 37% from the average session volume of 36,629,332 shares. The stock had previously closed at $495.76.

AMD has been the topic of a number of other reports. Bank of America raised their target price on Advanced Micro Devices from $550.00 to $620.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Roth Capital reiterated a “buy” rating and set a $500.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, May 6th. Morgan Stanley raised their price objective on Advanced Micro Devices from $360.00 to $410.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Susquehanna boosted their price objective on Advanced Micro Devices from $375.00 to $450.00 and gave the company a “positive” rating in a research report on Wednesday, May 6th. Finally, Royal Bank Of Canada upped their target price on Advanced Micro Devices from $325.00 to $400.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 6th. Two research 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $468.65.

Insider Transactions at Advanced Micro Devices

In related news, CEO Lisa T. Su sold 125,000 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer directly owned 2,896,899 shares of the company’s stock, valued at approximately $1,334,572,400.31. This represents a 4.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nora Denzel sold 8,626 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $522.00, for a total value of $4,502,772.00. Following the completion of the transaction, the director owned 87,173 shares in the company, valued at $45,504,306. The trade was a 9.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 341,630 shares of company stock worth $152,147,456 in the last three months. 0.50% of the stock is owned by corporate insiders.

Key Headlines Impacting Advanced Micro Devices

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

• Positive Sentiment: Microsoft said it will deploy AMD’s next-generation Helios rack-scale AI systems on Azure, along with new AMD EPYC CPUs and Pensando networking gear. That gives AMD a major cloud customer and suggests meaningful future revenue from AI infrastructure. Microsoft to Deploy Next-Gen AMD Instinct and AMD EPYC Processors as the Companies Expand Their Long-Term Strategic Partnership
• Positive Sentiment: Several Wall Street analysts raised price targets ahead of AMD’s July 22 “Advancing AI” event, with expectations that the company could showcase its MI450x, MI500, and 2nm Venice roadmap. Investors appear to be betting on more AI wins and stronger guidance. AMD’s Big AI Moment Is Here: 6 Wall Street Analysts Just Placed Their Bets
• Positive Sentiment: Chip stocks are broadly rebounding, and AMD is moving with the group as investors rotate back into semiconductors after the recent selloff. AMD, Micron, SK Hynix lead chip stock recovery
• Neutral Sentiment: AMD is also getting attention from bullish commentary ahead of the AI event, with analysts saying the company’s biggest near-term catalyst may be new product and customer announcements. AMD Stock Rises on Vote of Confidence From a Big AI Chip Customer
• Negative Sentiment: One cautious take argues AMD’s bullish case still depends on Nvidia stumbling, highlighting that the stock’s valuation leaves little room for disappointment if the company fails to keep executing on AI. AMD: The Bull Case Requires Nvidia To Fail

Hedge Funds Weigh In On Advanced Micro Devices

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its stake in Advanced Micro Devices by 178.2% in the fourth quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer’s stock worth $5,551,000 after acquiring an additional 29,438 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in Advanced Micro Devices by 2.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer’s stock valued at $1,001,000 after acquiring an additional 234 shares during the last quarter. Sivia Capital Partners LLC boosted its stake in Advanced Micro Devices by 125.1% in the second quarter. Sivia Capital Partners LLC now owns 5,344 shares of the semiconductor manufacturer’s stock valued at $758,000 after acquiring an additional 2,970 shares in the last quarter. United Bank grew its holdings in shares of Advanced Micro Devices by 22.0% during the second quarter. United Bank now owns 13,255 shares of the semiconductor manufacturer’s stock worth $1,881,000 after purchasing an additional 2,392 shares during the last quarter. Finally, Schnieders Capital Management LLC. grew its holdings in shares of Advanced Micro Devices by 361.0% during the second quarter. Schnieders Capital Management LLC. now owns 9,230 shares of the semiconductor manufacturer’s stock worth $1,310,000 after purchasing an additional 7,228 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Price Performance

The stock has a 50-day moving average price of $503.89 and a 200 day moving average price of $330.45. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.72 and a quick ratio of 1.96. The firm has a market cap of $821.12 billion, a price-to-earnings ratio of 165.11, a PEG ratio of 1.43 and a beta of 2.47.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.08. The firm had revenue of $10.25 billion during 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 business’s revenue was up 37.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.96 EPS. As a group, equities research analysts forecast that Advanced Micro Devices, Inc. will post 6.26 earnings per share for the current fiscal year.

Advanced Micro Devices Company Profile

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.