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

Advanced Micro Devices, Inc. (NASDAQ:AMD) traded up 5.9% 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. Approximately 54,919,513 shares changed hands during trading, an increase of 70% from the average daily volume of 32,371,443 shares. The stock had previously closed at $552.90.

Several other equities research analysts also recently issued reports on AMD. Barclays started coverage on Advanced Micro Devices in a report on Thursday. They set an “overweight” rating for the company. TD Cowen reaffirmed a “buy” rating on shares of Advanced Micro Devices in a research report on Monday, October 19th. Piper Sandler lowered Advanced Micro Devices from an “overweight” rating to a “neutral” rating in a research note on Thursday. Jefferies Financial Group reissued a “buy” rating on shares of Advanced Micro Devices in a report on Thursday, October 29th. Finally, Weiss Ratings downgraded Advanced Micro Devices from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, November 4th. Three analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and a consensus price target of $640.11.

Insider Activity

In related news, EVP Jean X. Hu sold 15,000 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $474.08, for a total value of $7,111,200.00. Following the completion of the sale, the executive vice president directly owned 160,979 shares in the company, valued at $76,316,924.32. This represents a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Forrest Norrod sold 17,262 shares of the firm’s stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $540.70, for a total value of $9,333,563.40. Following the transaction, the executive vice president directly owned 353,317 shares of the company’s stock, valued at approximately $191,038,501.90. This represents a 4.66% 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 three months, insiders have sold 230,957 shares of company stock valued at $114,799,511. 0.50% of the stock is currently owned by company insiders.

Key Headlines Impacting Advanced Micro Devices

Investors following AMD have been watching these headlines:

• Positive Sentiment: Analyst upgrades and a higher target: William Blair upgraded AMD to Outperform, while Bank of America raised its price target to $700 from $650 and maintained a Buy rating, citing the Zen 6 roadmap and growth prospects. AMD Stock Upgraded as AI Chip Rival Nvidia Spirals Bank of America rating and price target
• Positive Sentiment: Potential share gains from Nvidia disruption: Reports of Jensen Huang’s departure from Nvidia have prompted investors to consider AMD as an alternative supplier. AMD could benefit if customers diversify, although the extent of any market-share shift remains uncertain. AMD and Broadcom stocks jump as Nvidia CEO resigns
• 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

Institutional Investors Weigh In On Advanced Micro Devices

A number of institutional investors have recently made changes to their positions in AMD. CacheTech Inc. raised its holdings in Advanced Micro Devices by 3.8% during the 3rd quarter. CacheTech Inc. now owns 15,080 shares of the semiconductor manufacturer’s stock worth $9,226,000 after purchasing an additional 546 shares during the last quarter. Winslow Capital Management LLC boosted its stake in shares of Advanced Micro Devices by 21.7% in the 3rd quarter. Winslow Capital Management LLC now owns 1,776,507 shares of the semiconductor manufacturer’s stock valued at $1,086,796,000 after purchasing an additional 316,343 shares during the last quarter. Ilmarinen Mutual Pension Insurance Co increased its position in shares of Advanced Micro Devices by 0.8% during the third quarter. Ilmarinen Mutual Pension Insurance Co now owns 219,533 shares of the semiconductor manufacturer’s stock worth $134,302,000 after buying an additional 1,756 shares during the period. Intesa Sanpaolo Wealth Management increased its position in shares of Advanced Micro Devices by 7.9% during the third quarter. Intesa Sanpaolo Wealth Management now owns 2,267 shares of the semiconductor manufacturer’s stock worth $1,387,000 after buying an additional 166 shares during the period. Finally, Cornerstone Select Advisors LLC increased its position in shares of Advanced Micro Devices by 1.4% during the third quarter. Cornerstone Select Advisors LLC now owns 4,148 shares of the semiconductor manufacturer’s stock worth $2,538,000 after buying an additional 57 shares during the period. Institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Price Performance

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

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

About Advanced Micro Devices

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.