Advanced Micro Devices (NASDAQ:AMD) Raised to “Buy” at Wall Street Zen

Advanced Micro Devices (NASDAQ:AMD) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Sunday, Wall Street Zen reports.

Several other equities research analysts have also issued reports on AMD. Zacks Research lowered Advanced Micro Devices from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 1st. Mizuho cut their target price on Advanced Micro Devices from $705.00 to $610.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 4th. TD Cowen restated a “buy” rating on shares of Advanced Micro Devices in a report on Monday, October 19th. Truist Financial increased their price target on Advanced Micro Devices from $594.00 to $605.00 and gave the company a “buy” rating in a report on Wednesday, November 4th. Finally, Wedbush restated an “outperform” rating and issued a $600.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, November 4th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and an average target price of $642.47.

Advanced Micro Devices Stock Up 13.3%

Shares of NASDAQ AMD opened at $508.58 on Friday. The company has a current ratio of 2.72, a quick ratio of 1.91 and a debt-to-equity ratio of 0.10. Advanced Micro Devices has a 12-month low of $188.22 and a 12-month high of $658.52. The firm’s 50-day moving average price is $547.67 and its 200-day moving average price is $416.28. The stock has a market capitalization of $830.24 billion, a price-to-earnings ratio of 86.82, a P/E/G ratio of 5.01 and a beta of 2.49.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, November 3rd. The semiconductor manufacturer reported $2.09 EPS for the quarter, topping the consensus estimate of $1.95 by $0.14. Advanced Micro Devices had a return on equity of 14.15% and a net margin of 16.77%. The company had revenue of $13.38 billion during the quarter, compared to analyst estimates of $13.10 billion. During the same quarter last year, the business posted $1.20 earnings per share. The firm’s revenue was up 44.7% on a year-over-year basis. On average, equities research analysts anticipate that Advanced Micro Devices will post 6.59 EPS for the current fiscal year.

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 28,811 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $471.87, for a total transaction of $13,595,046.57. Following the transaction, the executive vice president directly owned 1,261,461 shares in the company, valued at $595,245,602.07. This trade represents a 2.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Ava Hahn sold 2,993 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $488.69, for a total transaction of $1,462,649.17. Following the transaction, the senior vice president owned 26,623 shares in the company, valued at approximately $13,010,393.87. The trade was a 10.11% 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. In the last 90 days, insiders sold 230,957 shares of company stock valued at $114,799,511. 0.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Advanced Micro Devices

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

Trending Headlines about Advanced Micro Devices

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

• Positive Sentiment: Google Cloud is using AMD’s 5th Gen EPYC processors for host infrastructure supporting its TPU 8tx system. The deal expands AMD’s role in large-scale AI infrastructure, although it is a CPU infrastructure win rather than a selection of AMD’s AI accelerators. AMD announcement on Google Cloud
• Positive Sentiment: Oppenheimer upgraded AMD to Outperform and set a $600 price target, citing accelerating sales and forecasting 135% data-center revenue growth next year. The call helped bolster confidence in AMD’s AI growth outlook. CNBC report on Oppenheimer upgrade
• Positive Sentiment: Recent quarterly results provided additional support: revenue rose 45% year over year, with data-center revenue up 97%, and management expects revenue growth to accelerate. A broader technology-sector rally also helped lift sentiment. Quarterly results and outlook
• Neutral Sentiment: AMD also benefited as investors looked for alternatives amid pressure on Nvidia, though analysts noted that chipmakers could face increased scrutiny of sales practices. MarketWatch analysis
• Negative Sentiment: A reported Radeon GPU bug affecting SSD lifespan is a product concern, although it did not prevent the rally. Commentary also flagged elevated valuation and rising inventory as risks to sustaining gains. TipRanks report on Radeon GPU bug

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.