Wedbush Reaffirms “Outperform” Rating for Advanced Micro Devices (NASDAQ:AMD)

Advanced Micro Devices (NASDAQ:AMD)‘s stock had its “outperform” rating reaffirmed by equities researchers at Wedbush in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $600.00 price target on the semiconductor manufacturer’s stock. Wedbush’s target price would indicate a potential upside of 9.66% from the stock’s current price.

A number of other research analysts also recently issued reports on the stock. Raymond James Financial raised shares of Advanced Micro Devices from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $565.00 to $641.00 in a research report on Tuesday, August 25th. KeyCorp set a $650.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, August 5th. William Blair reissued a “market perform” rating on shares of Advanced Micro Devices in a research report on Friday, July 24th. BMO Capital Markets began coverage on shares of Advanced Micro Devices in a research report on Thursday, August 20th. They set an “outperform” rating and a $550.00 price objective on the stock. Finally, Jefferies Financial Group set a $650.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, August 5th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $603.51.

Advanced Micro Devices Trading Up 1.7%

Advanced Micro Devices stock traded up $9.08 during mid-day trading on Tuesday, reaching $547.13. 3,497,616 shares of the company traded hands, compared to its average volume of 32,017,336. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.61 and a quick ratio of 1.91. The firm’s 50 day moving average price is $538.39 and its 200 day moving average price is $476.52. The firm has a market capitalization of $893.18 billion, a price-to-earnings ratio of 139.43, a P/E/G ratio of 5.43 and a beta of 2.45. Advanced Micro Devices has a 52-week low of $188.22 and a 52-week high of $658.52.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data on Tuesday, August 4th. The semiconductor manufacturer reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. The business had revenue of $11.54 billion for the quarter, compared to the consensus estimate of $11.31 billion. Advanced Micro Devices had a net margin of 15.58% and a return on equity of 12.30%. The company’s quarterly revenue was up 50.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.48 EPS. On average, analysts anticipate that Advanced Micro Devices will post 6.49 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Forrest Norrod sold 17,262 shares of the business’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $540.70, for a total transaction of $9,333,563.40. Following the sale, the executive vice president owned 353,317 shares in the company, valued at approximately $191,038,501.90. The trade was a 4.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark D. Papermaster sold 28,811 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $471.87, for a total transaction of $13,595,046.57. Following the sale, the executive vice president owned 1,261,461 shares in the company, valued at approximately $595,245,602.07. This trade represents a 2.23% decrease in their position. 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 quarter, insiders have sold 231,100 shares of company stock worth $114,867,400. 0.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Advanced Micro Devices

A number of hedge funds have recently modified their holdings of AMD. MJT & Associates Financial Advisory Group Inc. bought a new position in Advanced Micro Devices in the 3rd quarter worth about $29,000. JNBA Financial Advisors boosted its stake in Advanced Micro Devices by 142.9% in the 2nd quarter. JNBA Financial Advisors now owns 51 shares of the semiconductor manufacturer’s stock worth $30,000 after purchasing an additional 30 shares in the last quarter. Downshift Financial LLC boosted its stake in Advanced Micro Devices by 850.0% in the 3rd quarter. Downshift Financial LLC now owns 57 shares of the semiconductor manufacturer’s stock worth $35,000 after purchasing an additional 51 shares in the last quarter. Bullseye Investment Management LLC bought a new position in Advanced Micro Devices in the 2nd quarter worth about $44,000. Finally, Luminist Capital LLC bought a new position in Advanced Micro Devices in the 2nd quarter worth about $46,000. Institutional investors 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: Wedbush reaffirmed its bullish view: The firm maintained an “Outperform” rating and set a $600 price target, implying additional upside from current levels. Benzinga analyst note
• Positive Sentiment: AI and data-center demand remain key catalysts: Recent coverage points to potential growth in agentic AI, data-center infrastructure, high-performance computing and PC processors. TD Cowen previously reiterated a Buy rating and a $675 target, citing the possibility of roughly 70% growth in AMD CPU sales next year. Why AMD Stock Popped on Monday
• Positive Sentiment: Growth expectations are elevated: AMD is expected to generate approximately $13 billion in third-quarter revenue, up about 41% year over year. The company has exceeded the high end of its own revenue guidance in each of the past two quarters, supporting optimism ahead of its next earnings report. AMD earnings outlook
• Neutral Sentiment: Industry opportunity: A market report projects global semiconductor intellectual-property revenue will increase from $7.3 billion in 2024 to $9.2 billion by 2030, reflecting ongoing demand for AI, 5G and system-on-chip designs. AMD is among the companies covered, but the report does not represent a company-specific catalyst. Semiconductor IP market forecast
• Negative Sentiment: AI sentiment has weakened: AMD, Nvidia and Intel faced renewed premarket pressure as investors questioned the pace and financing of AI infrastructure spending. Warnings about a potential AI-stock bubble, delayed projects and leverage could increase volatility for highly valued chipmakers. AI chip stocks under pressure
• Negative Sentiment: Valuation and insider selling remain risks: AMD trades at a premium valuation, while EVP Forrest Norrod sold 17,262 shares worth about $9.3 million under a pre-arranged Rule 10b5-1 plan. The scheduled nature of the sale and his remaining stake reduce its significance, but it may still weigh on sentiment. AMD insider sale

Advanced Micro Devices Company Profile

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

AMD’s product portfolio includes Ryzen processors for desktop and notebook computers, EPYC server processors, Radeon graphics processing units, and Instinct accelerators for artificial intelligence and high-performance computing.