Advanced Micro Devices’ (AMD) Buy Rating Reaffirmed at Rosenblatt Securities

Advanced Micro Devices (NASDAQ:AMD)‘s stock had its “buy” rating restated by analysts at Rosenblatt Securities in a research report issued on Tuesday, Benzinga reports. They presently have a $700.00 target price on the semiconductor manufacturer’s stock. Rosenblatt Securities’ price objective points to a potential upside of 10.43% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Wedbush reiterated an “outperform” rating and issued a $600.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, August 5th. William Blair reiterated a “market perform” rating on shares of Advanced Micro Devices in a report on Friday, July 24th. Citigroup upgraded shares of Advanced Micro Devices from a “market perform” rating to a “buy” rating in a report on Wednesday, July 22nd. Argus upped their price objective on shares of Advanced Micro Devices from $450.00 to $625.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, BMO Capital Markets began coverage on shares of Advanced Micro Devices in a report on Thursday, August 20th. They issued an “outperform” rating and a $550.00 price objective for the company. Three investment analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and a consensus target price of $567.63.

Advanced Micro Devices Stock Up 3.0%

Shares of Advanced Micro Devices stock traded up $18.18 on Tuesday, hitting $633.91. 19,820,105 shares of the company traded hands, compared to its average volume of 32,869,313. The company has a 50-day moving average price of $512.65 and a 200 day moving average price of $444.36. The company has a quick ratio of 1.91, a current ratio of 2.61 and a debt-to-equity ratio of 0.03. Advanced Micro Devices has a 12-month low of $163.14 and a 12-month high of $645.46. The company has a market cap of $1.03 trillion, a PE ratio of 162.96, a PEG ratio of 6.35 and a beta of 2.45.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, August 4th. The semiconductor manufacturer reported $1.66 EPS for the quarter, beating the consensus estimate of $1.62 by $0.04. The business had revenue of $11.54 billion for the quarter, compared to analysts’ expectations of $11.31 billion. Advanced Micro Devices had a net margin of 15.58% and a return on equity of 12.30%. Advanced Micro Devices’s revenue was up 50.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.48 EPS. Sell-side analysts predict that Advanced Micro Devices will post 6.43 earnings per share for the current year.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Forrest Norrod sold 17,261 shares of the company’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $503.05, for a total transaction of $8,683,146.05. Following the completion of the transaction, the executive vice president owned 363,317 shares of the company’s stock, valued at approximately $182,766,616.85. This represents a 4.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Paul Grasby sold 15,000 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $514.91, for a total transaction of $7,723,650.00. Following the transaction, the executive vice president directly owned 117,687 shares of the company’s stock, valued at $60,598,213.17. This represents a 11.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 213,838 shares of company stock valued at $105,533,836 in the last three months. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AMD. Silverleafe Capital Partners LLC raised its position in Advanced Micro Devices by 20.2% in the third quarter. Silverleafe Capital Partners LLC now owns 953 shares of the semiconductor manufacturer’s stock worth $583,000 after purchasing an additional 160 shares in the last quarter. First Citizens Financial Corp raised its position in Advanced Micro Devices by 3.4% in the third quarter. First Citizens Financial Corp now owns 490 shares of the semiconductor manufacturer’s stock worth $300,000 after purchasing an additional 16 shares in the last quarter. Polaris Financial Partners acquired a new position in Advanced Micro Devices in the third quarter worth about $496,000. CX Institutional raised its position in Advanced Micro Devices by 1.7% in the third quarter. CX Institutional now owns 18,140 shares of the semiconductor manufacturer’s stock worth $11,221,000 after purchasing an additional 310 shares in the last quarter. Finally, Private Client Services LLC raised its position in Advanced Micro Devices by 1.7% in the third quarter. Private Client Services LLC now owns 1,079 shares of the semiconductor manufacturer’s stock worth $660,000 after purchasing an additional 18 shares in the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

Key Advanced Micro Devices News

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

• Positive Sentiment: AMD’s proposed $8.2 billion, all-stock acquisition of World Labs is the main company-specific catalyst. The deal would bring in Fei-Fei Li’s spatial-intelligence AI business and could help AMD shape future AI products beyond the current GPU competition. The acquisition is intended to strengthen AMD’s software and AI roadmap as demand expands. Advanced Micro Devices Is Spending $8.2 Billion to Learn What AI Needs Next
• Positive Sentiment: Demand indicators remain strong. Hewlett Packard Enterprise announced a $1.2 billion Vultr order involving AMD Helios AI racks, offering evidence of expanding deployment opportunities for AMD chips in data centers. HPE CFO discusses $1.2B deal with Vultr to deploy AMD Helios AI racks
• Positive Sentiment: Semiconductor stocks broadly advanced, with AMD benefiting from renewed enthusiasm for the next AI infrastructure build-out. Analysts and financial commentators continue to highlight AMD’s data-center growth, CPU demand and potential to gain share without overtaking Nvidia. AMD Doesn’t Need to Beat Nvidia to Be a Big AI Winner
• Positive Sentiment: Weaker-than-expected employment data reduced expectations for another Federal Reserve rate hike, supporting technology and other high-growth stocks whose valuations are sensitive to interest rates. AMD stock gains 3%, here’s why

Advanced Micro Devices Company Profile

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.