Advanced Micro Devices (NASDAQ:AMD) Stock Rating Raised to Outperform at William Blair

Advanced Micro Devices (NASDAQ:AMD) was upgraded by equities research analysts at William Blair from a “market perform” rating to an “outperform” rating in a research note issued to investors on Thursday, Marketbeat Ratings reports.

Several other brokerages also recently commented on AMD. JPMorgan Chase & Co. increased their price objective on shares of Advanced Micro Devices from $550.00 to $575.00 and gave the company a “neutral” rating in a research note on Wednesday, November 4th. Wells Fargo & Company decreased their target price on shares of Advanced Micro Devices from $700.00 to $650.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 4th. Citigroup upped their price target on shares of Advanced Micro Devices from $575.00 to $800.00 and gave the stock a “buy” rating in a report on Tuesday, October 6th. Union Gaming Research reiterated a “positive” rating on shares of Advanced Micro Devices in a research note on Wednesday, November 4th. Finally, Stifel Nicolaus raised their price objective on Advanced Micro Devices from $700.00 to $725.00 and gave the company a “buy” rating in a report on Wednesday, November 4th. Three analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $642.47.

Advanced Micro Devices Stock Performance

NASDAQ AMD opened at $552.90 on Thursday. Advanced Micro Devices has a 1 year low of $188.22 and a 1 year high of $658.52. The firm’s 50 day simple moving average is $550.43 and its 200 day simple moving average is $419.05. The company has a current ratio of 2.72, a quick ratio of 1.93 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $906.81 billion, a price-to-earnings ratio of 120.20, a P/E/G ratio of 4.96 and a beta of 2.49.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, November 3rd. The semiconductor manufacturer reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.14. The company had revenue of $13.38 billion during the quarter, compared to analysts’ expectations of $13.10 billion. Advanced Micro Devices had a return on equity of 14.15% and a net margin of 16.77%. Advanced Micro Devices’s revenue was up 44.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.20 EPS. As a group, research analysts expect that Advanced Micro Devices will post 6.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Jean X. Hu sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $474.08, for a total transaction of $7,111,200.00. Following the sale, the executive vice president directly owned 160,979 shares of the company’s stock, valued at $76,316,924.32. The trade was a 8.52% decrease in their position. The transaction was disclosed in a legal 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 Norrod sold 17,262 shares of the business’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $540.70, for a total transaction of $9,333,563.40. Following the sale, the executive vice president directly owned 353,317 shares in the company, valued at $191,038,501.90. The trade was a 4.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 230,957 shares of company stock worth $114,799,511 over the last quarter. 0.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Advanced Micro Devices

Several large investors have recently modified their holdings of AMD. BlackRock Inc. lifted its stake in shares of Advanced Micro Devices by 3.1% in the 2nd quarter. BlackRock Inc. now owns 150,301,510 shares of the semiconductor manufacturer’s stock valued at $87,311,650,000 after purchasing an additional 4,535,126 shares during the period. State Street Corp boosted its position in shares of Advanced Micro Devices by 2.9% during the 2nd quarter. State Street Corp now owns 76,920,783 shares of the semiconductor manufacturer’s stock valued at $46,606,266,000 after purchasing an additional 2,149,563 shares in the last quarter. Bank of America Corp DE acquired a new stake in Advanced Micro Devices during the second quarter worth approximately $7,022,226,000. Jennison Associates LLC increased its holdings in Advanced Micro Devices by 5.8% in the second quarter. Jennison Associates LLC now owns 9,972,952 shares of the semiconductor manufacturer’s stock worth $5,793,388,000 after purchasing an additional 545,575 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in Advanced Micro Devices by 33.9% in the second quarter. Wellington Management Group LLP now owns 9,334,396 shares of the semiconductor manufacturer’s stock worth $5,422,444,000 after purchasing an additional 2,365,419 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Latest Advanced Micro Devices News

Investors following AMD have been watching these news items:

• Positive Sentiment: Reports of leadership turmoil at Nvidia have prompted investors to consider whether rivals such as AMD could gain business or market share. Those potential gains are not yet evidence of customers switching suppliers. AMD and Broadcom Stocks Jump. What It Says About the Future of the AI Trade.
• Positive Sentiment: Investors are also responding to expectations that hyperscalers will spend more on AI infrastructure than previously forecast. Consensus estimates for their capital expenditures have risen substantially, supporting demand prospects for AMD’s chips. Great News for Nvidia, Micron, Broadcom, and AMD Stock Investors
• Positive Sentiment: AMD’s EPYC server processors and AI products are gaining visibility through cloud and server deployments, including Google’s use of 5th-generation EPYC chips and new AMD-powered AI systems from Supermicro. These developments may help broaden AMD’s data-center sales. What Is Going on With AMD Stock on Wednesday?

About Advanced Micro Devices

Advanced Micro Devices, Inc. (AMD) is a semiconductor company that designs processors, graphics products and adaptive computing solutions. Its products serve data center, personal computing, gaming, embedded and other markets. AMD is a fabless chip designer, relying on third-party manufacturing partners to produce its semiconductors. The company’s product portfolio includes EPYC server processors, Ryzen desktop and laptop processors, Radeon graphics products, Instinct accelerators for data center computing, and adaptive chips and systems used in embedded applications.