Stifel Nicolaus Issues Positive Forecast for Advanced Micro Devices (NASDAQ:AMD) Stock Price

Key Points

• Stifel Nicolaus raised AMD’s price target from $635 to $700 and maintained a “buy” rating, implying approximately 10.4% upside from the reported $633.91 share price.
• Analyst sentiment remains broadly positive: AMD has a “Moderate Buy” consensus rating and an average price target of $569.25, supported by 36 Buy or Strong Buy ratings versus 10 Holds and one Sell.
• AMD’s latest quarterly results exceeded expectations, with $1.66 in adjusted EPS and $11.54 billion in revenue, up 50.1% year over year; institutional investors own 71.34% of the stock, while insiders sold approximately $105.5 million of shares in the last quarter.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) had its target price lifted by stock analysts at Stifel Nicolaus from $635.00 to $700.00 in a research note issued on Monday, Benzinga reports. The firm presently has a "buy" rating on the semiconductor manufacturer's stock. Stifel Nicolaus' price objective indicates a potential upside of 10.43% from the company's current price.

Other research analysts have also recently issued research reports about the company. Robert W. Baird set a $1,250.00 price objective on Advanced Micro Devices in a research note on Friday, July 24th. Piper Sandler assumed coverage on Advanced Micro Devices in a research note on Tuesday, September 15th. They issued an "overweight" rating and a $600.00 target price on the stock. Melius Research set a $660.00 price target on Advanced Micro Devices in a report on Friday, July 24th. Roth Capital lifted their price target on Advanced Micro Devices from $500.00 to $650.00 and gave the stock a "buy" rating in a research report on Friday, July 24th. Finally, Citigroup upgraded shares of Advanced Micro Devices from a "market perform" rating to a "buy" rating in a research note on Wednesday, July 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Advanced Micro Devices has an average rating of "Moderate Buy" and a consensus target price of $569.25.

Advanced Micro Devices Price Performance

Shares of AMD opened at $633.91 on Monday. Advanced Micro Devices has a fifty-two week low of $163.14 and a fifty-two week high of $645.46. The firm's 50-day simple moving average is $512.65 and its two-hundred day simple moving average is $446.10. The stock has a market cap of $1.03 trillion, a PE ratio of 162.96, a price-to-earnings-growth ratio of 6.58 and a beta of 2.45. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.91 and a current ratio of 2.61.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its earnings results on Tuesday, August 4th. The semiconductor manufacturer reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.04. Advanced Micro Devices had a net margin of 15.58% and a return on equity of 12.30%. The firm had revenue of $11.54 billion during the quarter, compared to analyst estimates of $11.31 billion. During the same period last year, the business earned $0.48 earnings per share. The business's revenue was up 50.1% on a year-over-year basis. Analysts anticipate that Advanced Micro Devices will post 6.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Ava Hahn sold 2,993 shares of the stock in a transaction on 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 sale, the senior vice president directly owned 26,623 shares of the company's stock, valued at $13,010,393.87. This trade represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jean X. Hu sold 15,000 shares of Advanced Micro Devices stock in a transaction dated 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 owned 160,979 shares of the company's stock, valued at $76,316,924.32. The trade was a 8.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 213,838 shares of company stock worth $105,533,836. 0.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Advanced Micro Devices

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in Advanced Micro Devices by 3.1% in the second 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 during the last quarter. State Street Corp lifted its holdings in shares of 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 valued at $46,606,266,000 after buying an additional 2,149,563 shares during the period. Bank of America Corp DE bought a new position in shares of Advanced Micro Devices during the 2nd quarter valued at $7,022,226,000. Jennison Associates LLC boosted its stake in shares of Advanced Micro Devices by 5.8% in the 2nd quarter. Jennison Associates LLC now owns 9,972,952 shares of the semiconductor manufacturer's stock worth $5,793,388,000 after buying an additional 545,575 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Advanced Micro Devices by 33.9% in the 2nd quarter. Wellington Management Group LLP now owns 9,334,396 shares of the semiconductor manufacturer's stock worth $5,422,444,000 after buying an additional 2,365,419 shares during the last quarter. Institutional investors own 71.34% of the company's stock.

About Advanced Micro Devices

Advanced Micro Devices, Inc NASDAQ: AMD is a semiconductor company that designs high-performance computing, graphics and adaptive computing products. Its offerings serve data centers, personal computers, gaming systems, embedded devices and other specialized markets.

AMD's product portfolio includes Ryzen processors for desktop and notebook computers, EPYC server processors, Radeon graphics products, and Instinct accelerators designed for artificial intelligence and high-performance computing workloads.

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