AMD Stock Surges as Shares Gap Up After Analyst Upgrade

\Advanced Micro Devices (AMD) Challenges Nvidia's Lead in AI

Shares of Advanced Micro Devices (AMD) experienced a significant surge in early trading on Monday after KeyCorp, a leading investment bank, raised their price target on the stock from $110.00 to $150.00. The stock opened at $128.52, a notable increase from its previous closing price of $124.92. Throughout the trading session, Advanced Micro Devices shares reached a high of $128.28, with an impressive trading volume of 32,084,253 shares.

 

This positive development comes after several other brokerages also provided favorable assessments of AMD. Raymond James, in a research report on May 3rd, reduced their price target on the stock from $115.00 to $110.00. However, Craig Hallum upgraded their rating on Advanced Micro Devices from “hold” to “buy” and raised their price objective from $76.00 to $100.00 on the same day. Benchmark, on May 3rd, increased their price target on AMD shares from $103.00 to $108.00. Furthermore, Deutsche Bank Aktiengesellschaft raised their price objective on April 24th, from $70.00 to $80.00. Finally, on June 6th, Piper Sandler raised their target price from $110.00 to $150.00 and provided an “overweight” rating on the stock. With a strong overall sentiment, Advanced Micro Devices has received one sell rating, nine hold ratings, twenty buy ratings, and one strong buy rating from investment analysts. Based on data from STA Research, the consensus rating for AMD is a “Strong Buy,” with a consensus target price of $99.00.

 

AMD Stock financial performance:

Analyzing the company’s financial performance, Advanced Micro Devices has a debt-to-equity ratio of 0.05, indicating a low level of debt. The company also maintains a quick ratio of 1.74 and a current ratio of 2.38, suggesting a healthy liquidity position. Over the past 50 days, the stock’s moving average has been $100.74, while the 200-day moving average stands at $85.68. With a market capitalization of $205.18 billion, Advanced Micro Devices boasts a price-to-earnings ratio of 552.70, a P/E/G ratio of 9.45, and a beta of 1.92.

 

In terms of recent financial performance, Advanced Micro Devices announced its quarterly earnings data on May 2nd. The semiconductor manufacturer surpassed analysts’ expectations by reporting earnings per share (EPS) of $0.60, surpassing the consensus estimate of $0.56 by $0.04. The company achieved revenue of $5.35 billion during the quarter, exceeding analysts’ forecasts of $5.31 billion. Compared to the same quarter the previous year, Advanced Micro Devices experienced a decline of 9.1% in quarterly revenue. The return on equity for the company was 7.19%, with a net margin of 1.71%. In the same quarter last year, the company reported EPS of $1.02. Analysts specializing in equities research anticipate that Advanced Micro Devices Inc. will post earnings for the current fiscal year.

 

The upward adjustment of the price target by KeyCorp, along with the positive ratings and strong financial performance, has propelled the shares of Advanced Micro Devices, Inc. to new heights. Investors and market participants are closely watching the company as it continues to establish its position as a prominent player in the semiconductor industry.

 

Company Profile:

Advanced Micro Devices, Inc. is a global semiconductor company operating in the Data Center, Client, Gaming, and Embedded segments. It offers microprocessors, GPUs, chipsets, and SoC products, along with development services and technology. The company’s brands include AMD Ryzen, Radeon, and EPYC, serving various industries and markets. Additionally, it provides FPGA products, adaptive SOCs, and acceleration boards. AMD serves a wide range of customers through direct sales, distributors, and retailers. The company was founded in 1969 and is headquartered in Santa Clara, California.

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