Advanced Micro Devices, Inc. (NASDAQ:AMD – Get Free Report) was up 4.6% during trading on Thursday . The company traded as high as $527.20 and last traded at $518.09. Approximately 31,198,929 shares traded hands during trading, a decline of 20% from the average daily volume of 38,970,707 shares. The stock had previously closed at $495.54.
Key Advanced Micro Devices News
Here are the key news stories impacting Advanced Micro Devices this week:
- Positive Sentiment: Wall Street commentary says AMD has a much larger market opportunity ahead, helped by Citi’s higher price target and a new CPU market model that expands the company’s addressable market. Why Wall Street Sees A Much Bigger Market Opportunity For AMD
- Positive Sentiment: Multiple upbeat articles say AMD’s AI story is still improving, with analysts arguing the company remains a key beneficiary of AI spending and that the rally may have more room to run. AMD: Winning The AI Race Without Beating Nvidia (Upgrade)
- Positive Sentiment: AMD’s data center momentum remains a major bullish catalyst, with recent coverage highlighting strong EPYC demand and rapid growth in the Instinct AI accelerator business. AMD’s Data Center Growth Rides on EPYC Demand: More Upside Ahead?
- Positive Sentiment: New partnerships and ecosystem development continue to support the stock, including Rocket One joining the AMD AI Developer Program and OneQode deploying AMD Instinct GPUs for global AI infrastructure. Rocket One Accepted into AMD AI Developer Program to Advance Simulation of Next-Generation Nanomagnetic AI Accelerator Architecture for AI, Defense and Space Applications
- Neutral Sentiment: Cathie Wood and ARK Invest sold more than $16 million of AMD shares, which may raise some short-term investor caution, but the sale does not change AMD’s broader AI growth narrative. Cathie Wood Just Sold $16 Million of AMD Stock. Why Did ARK Invest Sell the Chip Giant?
- Neutral Sentiment: Recent coverage notes AMD is near all-time highs, but also warns that expectations are elevated and the stock may be vulnerable if execution slips. What’s Going On With AMD Stock Thursday?
- Negative Sentiment: One cautionary note says Nvidia’s plan to enter the standalone server CPU market could intensify competition for AMD in a key growth area. AMD Stock Slips as Nvidia Makes Plans to Enter the Standalone Server CPU Market
Analyst Ratings Changes
A number of research analysts have commented on AMD shares. Raymond James Financial began coverage on shares of Advanced Micro Devices in a research note on Wednesday, May 6th. They set a “market perform” rating on the stock. Oppenheimer cut Advanced Micro Devices from a “market perform” rating to a “market perform” rating in a research note on Wednesday, May 6th. Roth Mkm restated a “buy” rating and set a $500.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, May 6th. Seaport Research Partners raised shares of Advanced Micro Devices from a “neutral” rating to a “buy” rating and set a $430.00 target price on the stock in a report on Wednesday, May 6th. Finally, The Goldman Sachs Group raised shares of Advanced Micro Devices from a “neutral” rating to a “buy” rating and increased their target price for the stock from $240.00 to $450.00 in a report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $410.00.
Advanced Micro Devices Stock Up 4.6%
The company has a market capitalization of $844.80 billion, a price-to-earnings ratio of 169.87, a PEG ratio of 1.48 and a beta of 2.40. The stock’s fifty day simple moving average is $315.01 and its two-hundred day simple moving average is $251.86. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.72 and a quick ratio of 1.96.
Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last issued its earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.08. The company had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $9.90 billion. Advanced Micro Devices had a net margin of 13.37% and a return on equity of 9.55%. The firm’s revenue was up 37.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.96 earnings per share. On average, sell-side analysts predict that Advanced Micro Devices, Inc. will post 6.2 earnings per share for the current fiscal year.
Insider Activity
In related news, EVP Paul Darren Grasby sold 24,376 shares of Advanced Micro Devices stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $444.39, for a total value of $10,832,450.64. Following the sale, the executive vice president directly owned 105,222 shares in the company, valued at $46,759,604.58. This trade represents a 18.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Forrest Eugene Norrod sold 19,487 shares of Advanced Micro Devices stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $431.40, for a total transaction of $8,406,691.80. Following the completion of the sale, the executive vice president owned 324,527 shares in the company, valued at approximately $140,000,947.80. This represents a 5.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 329,085 shares of company stock valued at $114,051,007. 0.50% of the stock is owned by company insiders.
Institutional Trading of Advanced Micro Devices
Several hedge funds have recently bought and sold shares of AMD. Joseph Group Capital Management bought a new stake in Advanced Micro Devices in the 4th quarter valued at about $25,000. Koesten Hirschmann & Crabtree INC. lifted its position in Advanced Micro Devices by 61.0% in the 3rd quarter. Koesten Hirschmann & Crabtree INC. now owns 161 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 61 shares during the last quarter. Sarver Vrooman Wealth Advisors bought a new stake in Advanced Micro Devices in the 4th quarter valued at about $27,000. Cornerstone Financial Management LLC bought a new stake in Advanced Micro Devices in the 4th quarter valued at about $27,000. Finally, Basepoint Wealth LLC bought a new stake in Advanced Micro Devices in the 4th quarter valued at about $30,000. 71.34% of the stock is currently owned by institutional investors.
About Advanced Micro Devices
Advanced Micro Devices, Inc (NASDAQ: AMD) is a global semiconductor company that designs and sells microprocessors, graphics processors, chipsets and adaptive computing solutions for a broad set of markets. The company’s product portfolio includes consumer and commercial CPUs under the Ryzen and Threadripper brands, data center processors under the EPYC brand, and Radeon graphics processing units for gaming and professional visualization. AMD also offers semi-custom system-on-chip (SoC) products for gaming consoles and other specialized applications, and provides supporting software and platform technologies for OEMs, cloud service providers and end users.
Founded in 1969, AMD has evolved from a supplier of logic chips into a diversified, fabless semiconductor designer.
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