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 Wedbush in a research report issued on Tuesday, Benzinga reports. They currently have a $600.00 target price on the semiconductor manufacturer’s stock. Wedbush’s price target suggests a potential upside of 10.58% from the company’s previous close.

A number of other brokerages have also weighed in on AMD. The Goldman Sachs Group lifted their target price on shares of Advanced Micro Devices from $450.00 to $640.00 and gave the company a “buy” rating in a research note on Monday, July 6th. Piper Sandler assumed coverage on shares of Advanced Micro Devices in a research note on Tuesday, September 15th. They set an “overweight” rating and a $600.00 price objective 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 stock from $565.00 to $641.00 in a research note on Tuesday, August 25th. Truist Financial boosted their price objective on shares of Advanced Micro Devices from $478.00 to $594.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Finally, Benchmark boosted their price objective on shares of Advanced Micro Devices from $485.00 to $685.00 and gave the stock 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-one have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $603.51.

Advanced Micro Devices Trading Up 0.8%

Shares of AMD traded up $4.56 during trading hours on Tuesday, reaching $542.61. 8,121,440 shares of the company traded hands, compared to its average volume of 32,045,035. The company’s fifty day moving average price is $538.39 and its two-hundred day moving average price is $476.52. The company has a market capitalization of $885.79 billion, a price-to-earnings ratio of 139.40, a price-to-earnings-growth ratio of 5.43 and a beta of 2.45. 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 $188.22 and a 12 month high of $658.52.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, August 4th. The semiconductor manufacturer reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. The firm had revenue of $11.54 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 50.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.48 EPS. Equities research analysts predict that Advanced Micro Devices will post 6.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Forrest Norrod sold 17,262 shares of the company’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $540.70, for a total value of $9,333,563.40. Following the transaction, the executive vice president owned 353,317 shares in the company, valued at approximately $191,038,501.90. This represents a 4.66% decrease in their ownership of the stock. The sale was disclosed in a 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 company’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president owned 26,623 shares in the company, valued at approximately $13,010,393.87. This represents 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. Insiders have sold a total of 231,100 shares of company stock valued at $114,867,400 over the last three months. 0.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of Advanced Micro Devices in the third quarter worth approximately $29,000. JNBA Financial Advisors lifted its stake in shares of Advanced Micro Devices by 142.9% in the second quarter. JNBA Financial Advisors now owns 51 shares of the semiconductor manufacturer’s stock worth $30,000 after buying an additional 30 shares in the last quarter. Downshift Financial LLC lifted its stake in shares of Advanced Micro Devices by 850.0% in the third quarter. Downshift Financial LLC now owns 57 shares of the semiconductor manufacturer’s stock worth $35,000 after buying an additional 51 shares in the last quarter. Bullseye Investment Management LLC bought a new position in shares of Advanced Micro Devices in the second quarter worth approximately $44,000. Finally, Luminist Capital LLC bought a new position in shares of Advanced Micro Devices in the second quarter worth approximately $46,000. Institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices News Summary

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

• Positive Sentiment: Analyst support: Wedbush reaffirmed its “outperform” rating and set a $600 price target. TD Cowen also maintained a Buy rating with a $675 target, citing potential agentic-AI demand that could increase AMD’s CPU sales by approximately 70% next year. Why AMD Stock Popped on Monday
• Positive Sentiment: Strong growth expectations: AMD is expected to report roughly $13 billion in third-quarter revenue, up about 41% year over year, ahead of its anticipated November 3 earnings report. The company has exceeded the high end of its own revenue guidance in each of the past two quarters. AMD Stock Is Up Over 140% This Year
• Positive Sentiment: AI infrastructure opportunity: Bullish coverage argues that the AI buildout remains in its early stages, with continued demand for accelerators, high-precision computing, data-center processors and related semiconductor infrastructure. AMD’s exposure to data centers, PCs, gaming and research computing could provide diversification beyond AI accelerators. 4 Stocks With Demand So Sticky That the AI Sell-Off Barely Touched Them
• Neutral Sentiment: Insider sale: EVP Forrest Norrod sold 17,262 shares for approximately $9.3 million under a pre-arranged Rule 10b5-1 plan. He retained 353,317 shares, making the transaction a limited signal about AMD’s outlook.
• Negative Sentiment: AI-sector volatility: Nvidia, AMD and other semiconductor stocks came under renewed pressure as investors questioned the sustainability, financing and timing of AI capital expenditures. A week-long selloff and warnings of an AI bubble continue to cap near-term gains. Nvidia, AMD and Intel Stocks Fall Again
• Negative Sentiment: Valuation risk: After gaining more than 155% this year, AMD trades at a demanding valuation. Analysts caution that the stock now requires rapid earnings growth and flawless execution, leaving it vulnerable to profit-taking or weaker-than-expected guidance. AMD Downgrade Analysis

About Advanced Micro Devices

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.