Advanced Micro Devices (NASDAQ:AMD) Stock Price Up 11.4% – What’s Next?

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price shot up 11.4% during mid-day trading on Friday . The company traded as high as $456.29 and last traded at $455.19. 57,010,988 shares changed hands during mid-day trading, an increase of 43% from the average session volume of 39,786,969 shares. The stock had previously closed at $408.46.

Key Stories Impacting Advanced Micro Devices

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

• Positive Sentiment: AMD’s latest earnings and guidance continue to fuel the rally, with the company beating expectations and highlighting strong data-center/AI demand. AMD, Micron shares surge on a big day for chip-sector outperformance
• Positive Sentiment: Analysts are getting more bullish after earnings, including new or raised price targets and higher EPS estimates that suggest further upside if AI server CPU demand stays strong. As CPUs Steal the Show, AMD Stock Just Got a New Street-High Price Target
• Positive Sentiment: Wall Street commentary suggests the AI opportunity is broadening from GPUs to CPUs, which helps position AMD as a key beneficiary of the next phase of AI infrastructure spending. Wall Street sees ‘changing of the guard in AI’ as Intel, AMD shares soar while Nvidia lags
• Neutral Sentiment: Coverage also notes that AMD shares are drawing attention from traders and momentum investors after the stock’s sharp run, which could keep volatility elevated. What Is AMD Stock’s Minimum & Maximum Potential After Earnings?
• Negative Sentiment: Some investors are locking in gains after the huge rally, including Cathie Wood/ARK trimming AMD holdings, which may cap near-term upside. Cathie Wood Dumps More AMD Shares Despite Its Massive 108% Rally. Here’s Why.

Wall Street Analysts Forecast Growth

AMD has been the subject of a number of research analyst reports. Seaport Research Partners raised shares of Advanced Micro Devices from a “neutral” rating to a “buy” rating and set a $430.00 price objective for the company in a research report on Wednesday. Jefferies Financial Group cut Advanced Micro Devices from a “buy” rating to a “hold” rating in a research note on Wednesday. Stifel Nicolaus lifted their price objective on Advanced Micro Devices from $320.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday. Cantor Fitzgerald boosted their price objective on Advanced Micro Devices to $500.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Wedbush lifted their target price on Advanced Micro Devices from $290.00 to $400.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $388.84.

Advanced Micro Devices Stock Performance

The stock has a market capitalization of $742.23 billion, a PE ratio of 149.24, a price-to-earnings-growth ratio of 1.41 and a beta of 2.40. The stock has a fifty day moving average of $243.98 and a 200-day moving average of $231.76. The company has a quick ratio of 2.01, a current ratio of 2.72 and a debt-to-equity ratio of 0.04.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.08. The company had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $9.90 billion. Advanced Micro Devices had a return on equity of 9.55% and a net margin of 13.37%.Advanced Micro Devices’s revenue was up 37.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.96 EPS. Equities analysts anticipate that Advanced Micro Devices, Inc. will post 5.99 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Forrest Eugene Norrod sold 19,450 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $216.81, for a total value of $4,216,954.50. Following the sale, the executive vice president owned 289,098 shares of the company’s stock, valued at $62,679,337.38. This trade represents a 6.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Paul Darren Grasby sold 7,500 shares of Advanced Micro Devices stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $204.87, for a total transaction of $1,536,525.00. Following the completion of the transaction, the executive vice president owned 129,598 shares of the company’s stock, valued at $26,550,742.26. This represents a 5.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 304,672 shares of company stock valued at $70,135,070 over the last three months. 0.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Advanced Micro Devices

Institutional investors have recently modified their holdings of the company. Joseph Group Capital Management acquired a new stake in Advanced Micro Devices in the fourth quarter valued at $25,000. ORG Wealth Partners LLC boosted its position in shares of Advanced Micro Devices by 39.7% during the 3rd quarter. ORG Wealth Partners LLC now owns 162 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 46 shares in the last quarter. Koesten Hirschmann & Crabtree INC. boosted its position in shares of Advanced Micro Devices by 61.0% during the 3rd quarter. Koesten Hirschmann & Crabtree INC. now owns 161 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 61 shares in the last quarter. Sarver Vrooman Wealth Advisors purchased a new position in shares of Advanced Micro Devices in the 4th quarter valued at about $27,000. Finally, Cornerstone Financial Management LLC acquired a new stake in shares of Advanced Micro Devices during the 4th quarter worth about $27,000. 71.34% of the stock is owned by hedge funds and other institutional investors.

Advanced Micro Devices Company Profile

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.