Advanced Micro Devices (NASDAQ:AMD) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Advanced Micro Devices (NASDAQ:AMD) from a hold rating to a buy rating in a report released on Monday.

Several other research firms also recently issued reports on AMD. Raymond James Financial began coverage on shares of Advanced Micro Devices in a report on Wednesday, May 6th. They set a “market perform” rating on the stock. Erste Group Bank upgraded shares of Advanced Micro Devices from a “hold” rating to a “buy” rating in a research note on Thursday, April 2nd. Sanford C. Bernstein set a $600.00 target price on Advanced Micro Devices and gave the stock an “outperform” rating in a research report on Wednesday, June 17th. Bank of America lifted their target price on Advanced Micro Devices from $550.00 to $620.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Finally, Seaport Research Partners upgraded Advanced Micro Devices from a “neutral” rating to a “buy” rating and set a $430.00 price target on the stock in a research note on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Advanced Micro Devices presently has an average rating of “Moderate Buy” and a consensus target price of $468.65.

Advanced Micro Devices Trading Up 1.5%

Shares of Advanced Micro Devices stock opened at $552.33 on Monday. Advanced Micro Devices has a 1 year low of $149.22 and a 1 year high of $584.73. The company’s fifty day simple moving average is $508.85 and its 200-day simple moving average is $337.19. The company has a market cap of $900.63 billion, a price-to-earnings ratio of 181.09, a PEG ratio of 1.58 and a beta of 2.47. 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 released its earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 EPS for the quarter, beating the consensus estimate of $1.29 by $0.08. Advanced Micro Devices had a net margin of 13.37% and a return on equity of 9.55%. The firm had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $9.90 billion. During the same period in the prior year, the company earned $0.96 EPS. The business’s quarterly revenue was up 37.8% compared to the same quarter last year. As a group, sell-side analysts expect that Advanced Micro Devices will post 6.25 EPS for the current year.

Insider Buying and Selling

In other news, EVP Mark D. Papermaster sold 6,000 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $536.33, for a total value of $3,217,980.00. Following the sale, the executive vice president owned 1,233,687 shares of the company’s stock, valued at approximately $661,663,348.71. This represents a 0.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Forrest Eugene Norrod sold 19,487 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $431.40, for a total transaction of $8,406,691.80. Following the sale, the executive vice president owned 324,527 shares of the company’s stock, valued at $140,000,947.80. This trade represents a 5.66% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 341,630 shares of company stock worth $152,147,456 in the last three months. Company insiders own 0.50% of the company’s stock.

Institutional Trading of Advanced Micro Devices

Several hedge funds have recently modified their holdings of the company. Regent Peak Wealth Advisors LLC boosted its holdings in shares of Advanced Micro Devices by 1.1% in the 2nd quarter. Regent Peak Wealth Advisors LLC now owns 5,938 shares of the semiconductor manufacturer’s stock worth $3,449,000 after acquiring an additional 66 shares in the last quarter. Wedge Capital Management L L P NC bought a new stake in Advanced Micro Devices during the 2nd quarter worth approximately $822,000. Annex Advisory Services LLC increased its holdings in Advanced Micro Devices by 28.3% during the 2nd quarter. Annex Advisory Services LLC now owns 1,991 shares of the semiconductor manufacturer’s stock valued at $1,157,000 after purchasing an additional 439 shares in the last quarter. Accel Wealth Management raised its position in Advanced Micro Devices by 1.4% in the 2nd quarter. Accel Wealth Management now owns 5,372 shares of the semiconductor manufacturer’s stock valued at $3,121,000 after purchasing an additional 74 shares during the last quarter. Finally, Whitener Capital Management Inc. bought a new position in Advanced Micro Devices in the 2nd quarter valued at $549,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

Key Advanced Micro Devices News

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.

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.