Advanced Micro Devices (NASDAQ:AMD) Shares Gap Up Following Analyst Upgrade

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) gapped up before the market opened on Monday after Wall Street Zen upgraded the stock from a hold rating to a buy rating. The stock had previously closed at $495.76, but opened at $517.00. Advanced Micro Devices shares last traded at $513.14, with a volume of 5,356,633 shares trading hands.

AMD has been the subject of several other research reports. Mizuho upped their price objective on Advanced Micro Devices from $515.00 to $615.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. Erste Group Bank upgraded shares of Advanced Micro Devices from a “hold” rating to a “buy” rating in a research report on Thursday, April 2nd. Barclays cut shares of Advanced Micro Devices from an “overweight” rating to an “underweight” rating in a research report on Friday, June 12th. Rosenblatt Securities raised their price target on shares of Advanced Micro Devices from $300.00 to $490.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Needham & Company LLC upgraded shares of Advanced Micro Devices to a “buy” rating in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Advanced Micro Devices currently has an average rating of “Moderate Buy” and an average price target of $468.65.

Insider Activity at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 6,000 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $536.33, for a total transaction of $3,217,980.00. Following the transaction, the executive vice president owned 1,233,687 shares in the company, valued at $661,663,348.71. The trade was a 0.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 on 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 transaction, the executive vice president directly owned 324,527 shares in the company, valued at approximately $140,000,947.80. This represents a 5.66% 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. Over the last quarter, insiders have sold 341,630 shares of company stock worth $152,147,456. Corporate insiders own 0.50% of the company’s stock.

Key Advanced Micro Devices News

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

• Positive Sentiment: Microsoft expanded its strategic partnership with AMD and will deploy AMD Helios rack-scale AI systems at scale on Azure, giving AMD a major new customer and validating its push into full-stack AI infrastructure. AMD launches Helios, its first rack AI system to rival Nvidia, adding Microsoft as newest buyer
• Positive Sentiment: Several analysts raised price targets or turned more bullish ahead of AMD’s AI event, suggesting Wall Street expects stronger product momentum and potential upside from new announcements. AMD’s Big AI Moment Is Here: 6 Wall Street Analysts Just Placed Their Bets
• Positive Sentiment: AMD continues to benefit from broad chip-sector strength and a rebound in AI names, with traders rotating back into semiconductors after a recent selloff. Stock Market Today: Nasdaq Clings To A Gain After Trump Comments; AMD Rises (Live Coverage)
• Positive Sentiment: Coverage around AMD’s hyperscaler deals and strong data-center growth highlights a longer-term revenue story, especially if the Microsoft win leads to more deployments. AMD: Hyperscaler Deals Drive Growth

Hedge Funds Weigh In On Advanced Micro Devices

A number of institutional investors and hedge funds have recently made changes to their positions in AMD. Joseph Group Capital Management bought a new position in Advanced Micro Devices in the fourth quarter worth approximately $25,000. Sarver Vrooman Wealth Advisors bought a new stake in shares of Advanced Micro Devices during the fourth quarter valued at approximately $27,000. Cornerstone Financial Management LLC bought a new stake in shares of Advanced Micro Devices during the fourth quarter valued at approximately $27,000. Basepoint Wealth LLC acquired a new position in shares of Advanced Micro Devices during the fourth quarter worth approximately $30,000. Finally, Graney & King LLC acquired a new position in shares of Advanced Micro Devices during the first quarter worth approximately $31,000. Institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Trading Up 1.6%

The business has a fifty day moving average of $504.79 and a 200-day moving average of $332.48. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.96 and a current ratio of 2.72. The company has a market capitalization of $821.12 billion, a P/E ratio of 165.11, a PEG ratio of 1.43 and a beta of 2.47.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.08. The business had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $9.90 billion. Advanced Micro Devices had a net margin of 13.37% and a return on equity of 9.55%. Advanced Micro Devices’s revenue was up 37.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.96 EPS. Analysts anticipate that Advanced Micro Devices, Inc. will post 6.26 earnings per share for the current fiscal year.

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.