Advanced Micro Devices (NASDAQ:AMD) Price Target Raised to $385.00

Advanced Micro Devices (NASDAQ:AMD) had its price objective upped by JPMorgan Chase & Co. from $270.00 to $385.00 in a report published on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the semiconductor manufacturer’s stock.

Several other research firms have also commented on AMD. Truist Financial set a $478.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday. Sanford C. Bernstein upgraded shares of Advanced Micro Devices from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $265.00 to $525.00 in a research report on Wednesday. Piper Sandler reiterated an “overweight” rating on shares of Advanced Micro Devices in a research report on Wednesday, February 25th. Citigroup boosted their price objective on shares of Advanced Micro Devices from $248.00 to $358.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Wells Fargo & Company boosted their price objective on shares of Advanced Micro Devices from $345.00 to $505.00 and gave the stock an “overweight” rating in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $388.84.

Advanced Micro Devices Stock Performance

NASDAQ:AMD opened at $455.19 on Wednesday. The company has a quick ratio of 2.01, a current ratio of 2.72 and a debt-to-equity ratio of 0.04. Advanced Micro Devices has a fifty-two week low of $101.60 and a fifty-two week high of $456.29. The stock has a market cap of $742.23 billion, a PE ratio of 149.24, a price-to-earnings-growth ratio of 1.26 and a beta of 2.40. The firm’s fifty day simple moving average is $243.98 and its 200-day simple moving average is $231.76.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $9.90 billion. During the same period in the prior year, the company posted $0.96 EPS. The business’s revenue for the quarter was up 37.8% on a year-over-year basis. Analysts expect that Advanced Micro Devices will post 5.95 earnings per share for the current fiscal year.

Insider Activity at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 31,320 shares of the stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $350.00, for a total transaction of $10,962,000.00. Following the transaction, the executive vice president directly owned 1,236,037 shares in the company, valued at $432,612,950. This represents a 2.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lisa T. Su sold 125,000 shares of the stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $214.36, for a total transaction of $26,795,000.00. Following the transaction, the chief executive officer owned 3,152,476 shares in the company, valued at approximately $675,764,755.36. The trade was a 3.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 304,672 shares of company stock valued at $70,135,070. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Advanced Micro Devices by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 158,522,860 shares of the semiconductor manufacturer’s stock worth $33,949,256,000 after acquiring an additional 2,525,109 shares during the period. State Street Corp lifted its holdings in shares of Advanced Micro Devices by 1.5% during the 4th quarter. State Street Corp now owns 74,919,276 shares of the semiconductor manufacturer’s stock worth $16,044,712,000 after acquiring an additional 1,094,835 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Advanced Micro Devices by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 37,584,845 shares of the semiconductor manufacturer’s stock worth $8,015,897,000 after acquiring an additional 287,525 shares during the period. Norges Bank purchased a new position in shares of Advanced Micro Devices during the 4th quarter worth about $4,929,312,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Advanced Micro Devices by 0.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,325,288 shares of the semiconductor manufacturer’s stock worth $4,352,864,000 after acquiring an additional 55,969 shares during the period. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Key Advanced Micro Devices News

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

• Positive Sentiment: AMD’s latest earnings and guidance continue to fuel the rally, with the company beating expectations and highlighting strong data-center/AI demand. AMD, Micron shares surge on a big day for chip-sector outperformance
• Positive Sentiment: Analysts are getting more bullish after earnings, including new or raised price targets and higher EPS estimates that suggest further upside if AI server CPU demand stays strong. As CPUs Steal the Show, AMD Stock Just Got a New Street-High Price Target
• Positive Sentiment: Wall Street commentary suggests the AI opportunity is broadening from GPUs to CPUs, which helps position AMD as a key beneficiary of the next phase of AI infrastructure spending. Wall Street sees ‘changing of the guard in AI’ as Intel, AMD shares soar while Nvidia lags
• Neutral Sentiment: Coverage also notes that AMD shares are drawing attention from traders and momentum investors after the stock’s sharp run, which could keep volatility elevated. What Is AMD Stock’s Minimum & Maximum Potential After Earnings?
• Negative Sentiment: Some investors are locking in gains after the huge rally, including Cathie Wood/ARK trimming AMD holdings, which may cap near-term upside. Cathie Wood Dumps More AMD Shares Despite Its Massive 108% Rally. Here’s Why.

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.