Advanced Micro Devices (NASDAQ:AMD) Trading Up 2.4% Following Analyst Upgrade

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares shot up 2.4% on Tuesday after TD Cowen raised their price target on the stock from $500.00 to $600.00. TD Cowen currently has a buy rating on the stock. Advanced Micro Devices traded as high as $517.50 and last traded at $522.1790. 33,200,290 shares traded hands during trading, a decline of 13% from the average session volume of 38,076,196 shares. The stock had previously closed at $510.13.

A number of other research firms also recently issued reports on AMD. Jefferies Financial Group downgraded Advanced Micro Devices from a “buy” rating to a “hold” rating in a research note on Wednesday, May 6th. Raymond James Financial assumed coverage on shares of Advanced Micro Devices in a research note on Wednesday, May 6th. They set a “market perform” rating on the stock. Needham & Company LLC upgraded shares of Advanced Micro Devices to a “buy” rating in a research note on Wednesday, May 6th. Stifel Nicolaus lifted their price target on shares of Advanced Micro Devices from $320.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, UBS Group set a $310.00 price objective on Advanced Micro Devices in a research note on Wednesday, February 4th. Two analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $419.86.

Insider Buying and Selling at Advanced Micro Devices

In related news, EVP Paul Darren Grasby sold 24,376 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $444.39, for a total value of $10,832,450.64. Following the completion of the transaction, the executive vice president owned 105,222 shares of the company’s stock, valued at approximately $46,759,604.58. This trade represents a 18.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Forrest Eugene Norrod sold 19,487 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president directly owned 324,527 shares of the company’s stock, valued at approximately $140,000,947.80. The trade was a 5.66% decrease in their position. 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. In the last ninety days, insiders sold 329,085 shares of company stock valued at $114,051,007. 0.50% of the stock is owned by company insiders.

Advanced Micro Devices News Roundup

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

• Positive Sentiment: AMD started ramping production of its next-generation 2nm EPYC Venice server processor, reinforcing its growth story in AI data centers and supporting the stock. Why Advanced Micro Devices (AMD) Is Up 10.4% After Launching 2nm EPYC Venice Production
• Positive Sentiment: AMD joined DriveNets’ $410 million funding round, signaling continued investment in AI networking infrastructure beyond chips alone. AMD Joins DriveNets Funding Round
• Positive Sentiment: Super Micro Computer highlighted AMD Helios at Computex, which helps validate AMD’s role in rack-scale AI systems and data-center buildouts. Super Micro Computer (SMCI) Stock Surges on AMD Helios Rack-Scale AI Platform Reveal
• Neutral Sentiment: Analysts and market commentators continue to debate whether AMD’s rapid rally leaves the stock expensive relative to peers, which may be capping upside in the near term. AMD vs. Nvidia Stock: One Metric Tells Me Which Is Clearly the Better Buy
• Negative Sentiment: Nvidia’s new RTX Spark PC chip intensifies competition in the personal-computer market, a headwind for AMD’s Ryzen franchise. Nvidia Just Derailed the Chip Rally. Intel, AMD Are Falling Sharply.
• Negative Sentiment: ARK Invest reportedly sold AMD shares while rotating into Nvidia, adding to short-term pressure from profit-taking and relative performance concerns. Cathie Wood Sells $56.2 Million Worth Of AMD Shares Again, But Loads Up On Nvidia Stock Amid PC Chip Buzz

Hedge Funds Weigh In On Advanced Micro Devices

Several hedge funds have recently added to or reduced their stakes in AMD. Norges Bank bought a new position in shares of Advanced Micro Devices during the fourth quarter valued at approximately $4,929,312,000. Jennison Associates LLC lifted its position in shares of Advanced Micro Devices by 181.6% during the fourth quarter. Jennison Associates LLC now owns 10,910,310 shares of the semiconductor manufacturer’s stock worth $2,336,552,000 after purchasing an additional 7,035,991 shares during the last quarter. Cardano Risk Management B.V. purchased a new stake in shares of Advanced Micro Devices during the fourth quarter valued at $1,000,783,000. Wellington Management Group LLP boosted its stake in shares of Advanced Micro Devices by 335.9% during the third quarter. Wellington Management Group LLP now owns 4,847,825 shares of the semiconductor manufacturer’s stock valued at $784,330,000 after purchasing an additional 3,735,807 shares during the period. Finally, Franklin Resources Inc. grew its holdings in shares of Advanced Micro Devices by 340.1% in the fourth quarter. Franklin Resources Inc. now owns 4,747,834 shares of the semiconductor manufacturer’s stock worth $1,016,796,000 after purchasing an additional 3,669,054 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors.

Advanced Micro Devices Stock Up 2.4%

The company’s 50 day moving average is $333.88 and its 200 day moving average is $257.70. The company has a market cap of $851.47 billion, a PE ratio of 171.21, a P/E/G ratio of 1.52 and a beta of 2.40. The company has a current ratio of 2.72, a quick ratio of 1.96 and a debt-to-equity ratio of 0.04.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.08. Advanced Micro Devices had a return on equity of 9.55% and a net margin of 13.37%.The business had revenue of $10.25 billion during the quarter, compared to analyst estimates of $9.90 billion. During the same period in the previous year, the company posted $0.96 EPS. Advanced Micro Devices’s revenue was up 37.8% on a year-over-year basis. As a group, analysts predict that Advanced Micro Devices, Inc. will post 6.2 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.