Advanced Micro Devices, Inc. (NASDAQ:AMD) Receives $468.65 Average Price Target from Brokerages

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) have earned an average recommendation of “Moderate Buy” from the forty-four analysts that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $468.6486.

AMD has been the topic of several recent analyst reports. Mizuho raised their target price on shares of Advanced Micro Devices from $515.00 to $615.00 and gave the stock an “outperform” rating in a report on Monday, June 1st. Jefferies Financial Group lowered shares of Advanced Micro Devices from a “buy” rating to a “hold” rating in a report on Wednesday, May 6th. Bank of America increased their price target on shares of Advanced Micro Devices from $550.00 to $620.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Citigroup raised shares of Advanced Micro Devices from a “market perform” rating to a “buy” rating in a report on Wednesday. Finally, Rosenblatt Securities boosted their price objective on shares of Advanced Micro Devices from $300.00 to $490.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th.

Key Stories Impacting Advanced Micro Devices

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

• Positive Sentiment: Anthropic’s multi-year plan to deploy up to 2GW of AMD Instinct MI450 GPUs could become a major new revenue stream for AMD. AMD and Anthropic Sign Major Chips-and-Investment Deal
• Positive Sentiment: AMD’s planned investment in Anthropic signals a deeper strategic alliance and could help the company win more AI infrastructure customers. AMD to invest up to $5 billion in Anthropic, WSJ Reports
• Positive Sentiment: Analysts are becoming more confident that the Anthropic deal can improve AMD’s long-term revenue outlook and help narrow the gap with Nvidia. AMD Stock Rises as Wells Fargo Gains ‘Further Confidence’ in Revenue after Anthropic Deal
• Neutral Sentiment: AMD also remains in focus ahead of its Aug. 4 earnings report and upcoming AI event, keeping expectations elevated for more customer wins and product updates.

Advanced Micro Devices Price Performance

Shares of NASDAQ:AMD opened at $552.33 on Thursday. The stock has a market cap of $900.63 billion, a PE ratio of 181.09, a PEG ratio of 1.58 and a beta of 2.47. The company’s fifty day moving average is $508.85 and its 200 day moving average is $337.19. The company has a quick ratio of 1.96, a current ratio of 2.72 and a debt-to-equity ratio of 0.04. Advanced Micro Devices has a 52 week low of $149.22 and a 52 week high of $584.73.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $9.90 billion. During the same period in the previous year, the firm earned $0.96 EPS. The business’s quarterly revenue was up 37.8% on a year-over-year basis. Research analysts anticipate that Advanced Micro Devices will post 6.25 earnings per share for the current year.

Insider Activity at Advanced Micro Devices

In other Advanced Micro Devices news, CEO Lisa T. Su sold 125,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $460.69, for a total transaction of $57,586,250.00. Following the completion of the transaction, the chief executive officer owned 2,896,899 shares of the company’s stock, valued at $1,334,572,400.31. This represents a 4.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Paul Darren Grasby sold 24,376 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $444.39, for a total value of $10,832,450.64. Following the completion of the sale, 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 SEC filing for this sale provides additional information. Insiders sold a total of 341,630 shares of company stock valued at $152,147,456 in the last quarter. 0.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Advanced Micro Devices

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Jefferies Financial Group Inc. raised its holdings in shares of Advanced Micro Devices by 6,228.8% in the 4th quarter. Jefferies Financial Group Inc. now owns 308,021 shares of the semiconductor manufacturer’s stock valued at $65,966,000 after purchasing an additional 303,154 shares in the last quarter. Boomfish Wealth Group LLC bought a new position in shares of Advanced Micro Devices during the first quarter valued at approximately $1,193,000. Dimensional Fund Advisors LP increased its holdings in Advanced Micro Devices by 6.0% during the first quarter. Dimensional Fund Advisors LP now owns 5,142,516 shares of the semiconductor manufacturer’s stock valued at $1,045,954,000 after buying an additional 291,165 shares during the period. Williamson Legacy Group LLC purchased a new position in Advanced Micro Devices during the fourth quarter valued at approximately $1,118,000. Finally, Thoroughbred Financial Services LLC raised its stake in Advanced Micro Devices by 8.8% in the fourth quarter. Thoroughbred Financial Services LLC now owns 32,827 shares of the semiconductor manufacturer’s stock worth $7,030,000 after buying an additional 2,654 shares in the last quarter. Institutional investors 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.