Advanced Micro Devices (NASDAQ:AMD) Stock Price Up 5.9% Following Analyst Upgrade

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares were up 5.9% during mid-day trading on Thursday after Bank of America raised their price target on the stock from $650.00 to $700.00. Bank of America currently has a buy rating on the stock. Advanced Micro Devices traded as high as $594.00 and last traded at $585.30. 54,919,513 shares changed hands during mid-day trading, an increase of 70% from the average session volume of 32,371,443 shares. The stock had previously closed at $552.90.

A number of other equities analysts have also weighed in on the company. Weiss Ratings lowered Advanced Micro Devices from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, November 4th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $675.00 target price on shares of Advanced Micro Devices in a report on Wednesday, November 4th. BTIG Research assumed coverage on Advanced Micro Devices in a research report on Thursday. They set a “buy” rating for the company. Mizuho dropped their price target on Advanced Micro Devices from $705.00 to $610.00 and set an “outperform” rating on the stock in a report on Wednesday, November 4th. Finally, Zacks Research cut Advanced Micro Devices from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 1st. Three analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $640.11.

Insider Activity

In related news, EVP Forrest Norrod sold 17,262 shares of Advanced Micro Devices stock in a transaction that occurred on 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 sale, the executive vice president owned 353,317 shares of the company’s stock, valued at approximately $191,038,501.90. The trade was a 4.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lisa T. Su sold 70,000 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $506.80, for a total value of $35,476,000.00. Following the completion of the transaction, the chief executive officer owned 3,032,156 shares in the company, valued at approximately $1,536,696,660.80. The trade was a 2.26% 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. Over the last ninety days, insiders sold 230,957 shares of company stock worth $114,799,511. 0.50% of the stock is owned by insiders.

Trending Headlines about Advanced Micro Devices

Here are a few of the latest headlines about AMD:

• Positive Sentiment: Quantum-computing partnership: AMD plans to invest in PsiQuantum and expand work on infrastructure for fault-tolerant quantum computers. The opportunity is longer term, but it adds a new strategic avenue beyond conventional AI chips. AMD to invest in PsiQuantum
• Neutral Sentiment: Positive AI demand outlook, but not risk-free: Analysts argue that ongoing hyperscaler spending and AMD’s expanding chip lineup can sustain growth, though broader concerns about the durability of AI infrastructure spending persist. Why AMD may be positioned for continued growth
• Negative Sentiment: Regulatory and execution risks: Export-control and compliance requirements could complicate global chip deployments, while concerns about cash flow and inventory remain potential headwinds. Royal Bank of Canada rating and price target

Institutional Trading of Advanced Micro Devices

Several hedge funds have recently made changes to their positions in AMD. DecisionPoint Financial LLC increased its holdings in Advanced Micro Devices by 79.2% in the 3rd quarter. DecisionPoint Financial LLC now owns 43 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 19 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. purchased a new stake in Advanced Micro Devices during the third quarter valued at about $29,000. JNBA Financial Advisors boosted its position 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 purchasing an additional 30 shares during the period. Graney & King LLC bought a new position in Advanced Micro Devices during the first quarter worth about $31,000. Finally, Main Street Group LTD bought a new position in Advanced Micro Devices during the first quarter worth about $33,000. 71.34% of the stock is currently owned by institutional investors.

Advanced Micro Devices Price Performance

The stock has a market cap of $959.94 billion, a PE ratio of 127.24, a P/E/G ratio of 4.96 and a beta of 2.49. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.72 and a quick ratio of 1.93. The firm’s 50 day moving average price is $550.43 and its two-hundred day moving average price is $419.05.

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

Advanced Micro Devices Company Profile

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.