Advanced Micro Devices (NASDAQ:AMD) Price Target Raised to $620.00 at Bank of America

Key Points

• Bank of America raised its price target on AMD from $550 to $620 and kept a buy rating, implying about 12.7% upside from the current share price.
• Other analysts remain broadly bullish on the stock, with recent target increases from Goldman Sachs and Loop Capital; MarketBeat says AMD now has a Moderate Buy consensus and an average target of $467.84.
• AMD’s latest earnings beat expectations, reporting $1.37 EPS on $10.25 billion in revenue, while the company’s stock recently traded around $550.08 after a strong run.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) had its price target lifted by equities research analysts at Bank of America from $550.00 to $620.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the semiconductor manufacturer's stock. Bank of America's target price points to a potential upside of 12.71% from the stock's current price.

Other research analysts also recently issued reports about the company. The Goldman Sachs Group lifted their price objective on Advanced Micro Devices from $450.00 to $640.00 and gave the stock a "buy" rating in a research report on Monday, July 6th. Melius Research set a $540.00 price target on Advanced Micro Devices in a research report on Monday, May 18th. Royal Bank Of Canada upped their price objective on Advanced Micro Devices from $325.00 to $400.00 and gave the company a "sector perform" rating in a research report on Wednesday, May 6th. Loop Capital upgraded Advanced Micro Devices to a "strong-buy" rating in a research report on Tuesday, June 16th. Finally, Weiss Ratings upgraded Advanced Micro Devices from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $467.84.

Advanced Micro Devices Price Performance

NASDAQ AMD traded up $15.69 during trading hours on Tuesday, reaching $550.08. The company's stock had a trading volume of 5,183,167 shares, compared to its average volume of 36,772,691. The stock has a market cap of $896.96 billion, a PE ratio of 181.25, a PEG ratio of 1.64 and a beta of 2.47. Advanced Micro Devices has a fifty-two week low of $149.22 and a fifty-two week high of $584.73. The company's 50-day moving average is $495.20 and its two-hundred day moving average is $321.90. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.96 and a current ratio of 2.72.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share 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 the consensus estimate of $9.90 billion. During the same period last year, the firm posted $0.96 EPS. The firm's revenue for the quarter was up 37.8% on a year-over-year basis. Analysts forecast that Advanced Micro Devices will post 6.18 EPS for the current year.

Insider Buying and Selling at Advanced Micro Devices

In related news, CEO Lisa T. Su sold 125,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $460.69, for a total value of $57,586,250.00. Following the sale, the chief executive officer directly owned 2,896,899 shares of the company's stock, valued at approximately $1,334,572,400.31. This trade represents a 4.14% decrease in their ownership of the stock. 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 Mark D. Papermaster sold 31,320 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the executive vice president owned 1,236,037 shares of the company's stock, valued at approximately $432,612,950. The trade was a 2.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 374,739 shares of company stock worth $161,135,671. 0.50% of the stock is currently owned by insiders.

Institutional Trading of Advanced Micro Devices

Several institutional investors have recently made changes to their positions in AMD. Joseph Group Capital Management acquired a new stake in Advanced Micro Devices during the fourth quarter worth about $25,000. Sarver Vrooman Wealth Advisors purchased a new stake in shares of Advanced Micro Devices during the 4th quarter worth about $27,000. Cornerstone Financial Management LLC purchased a new stake in shares of Advanced Micro Devices during the 4th quarter worth about $27,000. Basepoint Wealth LLC acquired a new stake in Advanced Micro Devices during the 4th quarter worth approximately $30,000. Finally, Graney & King LLC acquired a new stake in Advanced Micro Devices during the 1st quarter worth approximately $31,000. 71.34% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Advanced Micro Devices

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

• Positive Sentiment: Bank of America reiterated a constructive view on AMD, saying the company could beat earnings estimates and raise guidance thanks to strong server and AI demand, which helped reinforce the long-term growth thesis. AMD Seen Posting Strong Quarter
• Positive Sentiment: AMD also received a higher price target from Bank of America, adding to the bullish analyst sentiment around the stock and its AI accelerator opportunity. AMD Gets Bigger AI Target From BofA
• Positive Sentiment: QwikAgents, a Silo Pharma subsidiary, joined AMD’s AI Developer Program, highlighting AMD’s growing ecosystem and providing another small but positive reminder that developers are using AMD tools and cloud resources. Silo Pharma’s QwikAgents Accepted Into AMD AI Developer Program
• Neutral Sentiment: Multiple commentary pieces argued that AMD remains an attractive long-term AI and semiconductor play, but these were mostly opinion-driven and did not add new fundamental information. Prediction: Lisa Su Will Deliver Great News for Advanced Micro Devices (AMD) Investors on Aug. 4
• Neutral Sentiment: Market articles noted that AMD moved with the broader chip sector in premarket trading, suggesting macro sentiment and sector rotation were influencing the stock more than company-specific news. SNDK, MU, AMD, and INTC: Why Are Chip Stocks Rising in Pre-Market Today after a Sell-Off on Monday?
• Negative Sentiment: AMD was hit by a broader semiconductor selloff tied to geopolitical worries, supply-chain concerns, and profit-taking across high-flying AI chip names. AMD Stock Drops 5: Why Global Supply Chain Fears and Tech Profit-Taking Are Hurting Chip Giants
• Negative Sentiment: Several market wrapups also pointed to weakness in AI and chip stocks broadly, with investors questioning whether Big Tech spending can keep supporting the rally in semiconductors. Intel, AMD, Sandisk, and More Stocks That Explain Today's Market

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.

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