Advanced Micro Devices (NASDAQ:AMD) Stock Rating Reaffirmed as “Outperform” by Wedbush

Advanced Micro Devices (NASDAQ:AMD)‘s stock had its “outperform” rating reiterated by equities research analysts at Wedbush in a note issued to investors on Tuesday, Benzinga reports. They currently have a $600.00 price objective on the semiconductor manufacturer’s stock. Wedbush‘s price objective indicates a potential upside of 12.20% from the stock’s current price.

AMD has been the topic of a number of other research reports. Raymond James Financial upgraded Advanced Micro Devices from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from $565.00 to $641.00 in a report on Tuesday, August 25th. Melius Research set a $660.00 target price on Advanced Micro Devices in a report on Friday, July 24th. Susquehanna raised their target price on Advanced Micro Devices from $450.00 to $500.00 and gave the stock a “positive” rating in a report on Thursday, July 30th. Royal Bank Of Canada restated a “sector perform” rating and set a $540.00 target price on shares of Advanced Micro Devices in a report on Wednesday, August 5th. Finally, Zacks Research cut Advanced Micro Devices from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 1st. Three analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $603.51.

Advanced Micro Devices Price Performance

Shares of AMD opened at $534.74 on Tuesday. The company has a current ratio of 2.61, a quick ratio of 1.91 and a debt-to-equity ratio of 0.03. Advanced Micro Devices has a 1 year low of $188.22 and a 1 year high of $658.52. The stock has a market cap of $872.95 billion, a P/E ratio of 137.47, a price-to-earnings-growth ratio of 5.52 and a beta of 2.45. The stock’s 50-day moving average price is $539.60 and its two-hundred day moving average price is $478.81.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, August 4th. The semiconductor manufacturer reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.04. Advanced Micro Devices had a return on equity of 12.30% and a net margin of 15.58%. The firm had revenue of $11.54 billion for the quarter, compared to analysts’ expectations of $11.31 billion. During the same quarter last year, the business earned $0.48 earnings per share. The company’s revenue was up 50.1% compared to the same quarter last year. On average, equities analysts predict that Advanced Micro Devices will post 6.50 earnings per share for the current year.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark Papermaster sold 28,811 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $471.87, for a total value 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. The trade was a 2.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Ava Hahn sold 2,993 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $488.69, for a total value of $1,462,649.17. Following the completion of the sale, the senior vice president owned 26,623 shares in the company, valued at $13,010,393.87. The trade was a 10.11% 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 three months, insiders have sold 231,100 shares of company stock worth $114,867,400. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

Institutional investors have recently bought and sold shares of the company. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of Advanced Micro Devices during the 3rd quarter worth approximately $29,000. JNBA Financial Advisors increased its position in shares of Advanced Micro Devices by 142.9% during 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 during the last quarter. Graney & King LLC acquired a new position in shares of Advanced Micro Devices during the 1st quarter worth approximately $31,000. Main Street Group LTD acquired a new position in shares of Advanced Micro Devices during the 1st quarter worth approximately $33,000. Finally, Downshift Financial LLC increased its position in shares of Advanced Micro Devices by 850.0% during 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 during the last quarter. Institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices News Roundup

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

• Positive Sentiment: Expanded AI infrastructure partnership: Vultr plans to deploy AMD Instinct MI355X GPUs in a new 20-megawatt supercluster in Chennai, India. The project would become India’s largest AMD Instinct deployment and supports AMD’s efforts to gain share in enterprise and sovereign AI computing. Vultr and AMD Expand Global Collaboration
• Positive Sentiment: AI spending remains supportive: Stronger-than-expected updates from Super Micro Computer and SpaceX revived optimism that spending on AI servers and related infrastructure remains robust, lifting AMD and other semiconductor stocks in premarket trading. Why Nvidia AMD and Intel Stocks Are Surging
• Positive Sentiment: Analyst support and server demand: Wedbush reaffirmed an outperform rating with a $600 price target, citing potential upside from server CPU demand. The firm’s view provides a near-term catalyst ahead of AMD’s third-quarter earnings report. Advanced Micro Devices Server CPU Demand
• Neutral Sentiment: Upcoming earnings are pivotal: Investors are focused on the expected November 3 report, with results and guidance likely to determine whether AMD’s strong AI and data-center growth can justify its substantial recent gains.
• Negative Sentiment: Valuation and AI-cycle concerns remain: AMD’s valuation is demanding, with the provided data showing a P/E ratio above 137. Analysts and investors remain concerned that AI spending could slow, margins could be pressured during the Helios ramp, or financing issues in the data-center ecosystem could increase volatility. Should You Buy the Dip

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.