Advanced Micro Devices (NASDAQ:AMD) Stock Gets Price Target Boost from Susquehanna

Advanced Micro Devices (NASDAQ:AMD) had its price target hoisted by stock analysts at Susquehanna from $550.00 to $620.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “positive” rating on the semiconductor manufacturer’s stock. Susquehanna’s target price suggests a potential upside of 15.94% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Wedbush reiterated an “outperform” rating and issued a $600.00 target price on shares of Advanced Micro Devices in a research report on Tuesday. Morgan Stanley upped their price target on shares of Advanced Micro Devices from $410.00 to $465.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 5th. Mizuho raised their price target on shares of Advanced Micro Devices from $580.00 to $705.00 and gave the company an “outperform” rating in a research note on Tuesday, October 6th. KeyCorp set a $650.00 price target on Advanced Micro Devices in a research note on Wednesday, August 5th. Finally, JPMorgan Chase & Co. lifted their price target on Advanced Micro Devices from $385.00 to $550.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $606.76.

Advanced Micro Devices Trading Down 0.6%

Shares of NASDAQ:AMD opened at $534.74 on Wednesday. Advanced Micro Devices has a 1 year low of $188.22 and a 1 year high of $658.52. The firm has a market capitalization of $872.95 billion, a price-to-earnings ratio of 137.47, a price-to-earnings-growth ratio of 5.52 and a beta of 2.45. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.61 and a quick ratio of 1.91. The business’s 50 day moving average price is $539.60 and its 200-day moving average price is $478.81.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, August 4th. The semiconductor manufacturer reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. The firm had revenue of $11.54 billion for the quarter, compared to analysts’ expectations of $11.31 billion. Advanced Micro Devices had a net margin of 15.58% and a return on equity of 12.30%. The firm’s revenue for the quarter was up 50.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.48 EPS. On average, equities research analysts forecast that Advanced Micro Devices will post 6.50 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Forrest Norrod sold 17,262 shares of the company’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $540.70, for a total value of $9,333,563.40. Following the completion of the sale, the executive vice president owned 353,317 shares of the company’s stock, valued at approximately $191,038,501.90. This represents a 4.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Ava Hahn sold 2,993 shares of Advanced Micro Devices stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $488.69, for a total transaction of $1,462,649.17. Following the transaction, the senior vice president directly owned 26,623 shares in the company, valued at $13,010,393.87. This trade represents a 10.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 231,100 shares of company stock worth $114,867,400. 0.50% of the stock is currently owned by company insiders.

Institutional Trading of Advanced Micro Devices

Several hedge funds have recently made changes to their positions in AMD. MJT & Associates Financial Advisory Group Inc. acquired a new position in Advanced Micro Devices in the third quarter valued at about $29,000. JNBA Financial Advisors boosted its stake in Advanced Micro Devices by 142.9% during the second quarter. JNBA Financial Advisors now owns 51 shares of the semiconductor manufacturer’s stock worth $30,000 after buying an additional 30 shares during the period. Downshift Financial LLC boosted its stake in Advanced Micro Devices by 850.0% during the third quarter. Downshift Financial LLC now owns 57 shares of the semiconductor manufacturer’s stock worth $35,000 after buying an additional 51 shares during the period. Bullseye Investment Management LLC acquired a new stake in shares of Advanced Micro Devices during the second quarter valued at about $44,000. Finally, Luminist Capital LLC acquired a new stake in shares of Advanced Micro Devices during the second quarter valued at about $46,000. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices News Roundup

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

• Positive Sentiment: Expanded AI infrastructure partnership: Vultr plans to deploy AMD Instinct MI355X GPUs in a new 20-megawatt supercluster in Chennai, India. The project would become India’s largest AMD Instinct deployment and supports AMD’s efforts to gain share in enterprise and sovereign AI computing. Vultr and AMD Expand Global Collaboration
• Positive Sentiment: AI spending remains supportive: Stronger-than-expected updates from Super Micro Computer and SpaceX revived optimism that spending on AI servers and related infrastructure remains robust, lifting AMD and other semiconductor stocks in premarket trading. Why Nvidia AMD and Intel Stocks Are Surging
• Positive Sentiment: Analyst support and server demand: Wedbush reaffirmed an outperform rating with a $600 price target, citing potential upside from server CPU demand. The firm’s view provides a near-term catalyst ahead of AMD’s third-quarter earnings report. Advanced Micro Devices Server CPU Demand
• Neutral Sentiment: Upcoming earnings are pivotal: Investors are focused on the expected November 3 report, with results and guidance likely to determine whether AMD’s strong AI and data-center growth can justify its substantial recent gains.
• Negative Sentiment: Valuation and AI-cycle concerns remain: AMD’s valuation is demanding, with the provided data showing a P/E ratio above 137. Analysts and investors remain concerned that AI spending could slow, margins could be pressured during the Helios ramp, or financing issues in the data-center ecosystem could increase volatility. Should You Buy the Dip

Advanced Micro Devices Company Profile

Advanced Micro Devices, Inc (NASDAQ: AMD) is a global semiconductor company that designs high-performance computing, graphics and adaptive computing products. Its offerings serve data centers, personal computers, gaming systems, embedded markets and other specialized applications.

AMD’s product portfolio includes Ryzen processors for desktop and notebook computers, EPYC server processors, Radeon graphics processing units, and Instinct accelerators for artificial intelligence and high-performance computing.