Key Highlights
- TD Cowen increased AMD’s price target from $600 to $675 while maintaining its Buy recommendation
- Shares began Monday’s session at $557.89 with a total market valuation of $909.70 billion
- First-quarter earnings per share reached $1.37, surpassing the $1.29 forecast; revenue climbed to $10.25 billion versus $9.90 billion expected
- Year-over-year quarterly revenue jumped 37.8%; Wall Street projects annual EPS of $6.18
- Several analysts including Cantor Fitzgerald (targeting $700), Wells Fargo ($615), and Stifel ($635) recently upgraded their price objectives
TD Cowen elevated its price objective for AMD from $600 to $675 this Monday while reaffirming its Buy recommendation. This adjustment emerged during a comprehensive second-quarter earnings outlook covering compute and networking semiconductor companies.
Advanced Micro Devices, Inc., AMD
Analysts at the firm noted that industry fundamentals “remain firm” and highlighted significant AI product rollouts scheduled for late 2026 as critical catalysts for sustained growth. TD Cowen additionally emphasized that CPU demand continues showing strength, supported by agentic AI adoption.
AMD commenced Monday’s trading at $557.89 per share. The semiconductor manufacturer commands a market capitalization of $909.70 billion, with shares fluctuating between $141.60 and $584.73 over the past year.
The stock’s 50-day moving average stands at $491.60, whereas the 200-day moving average registers at $319.65 — illustrating the significant appreciation AMD has experienced in recent trading sessions.
TD Cowen joins a growing chorus of optimistic voices. Cantor Fitzgerald elevated its price objective to $700 from $500, assigning an Overweight designation. Wells Fargo adjusted its target upward to $615 from $505, similarly maintaining an Overweight stance.
Stifel increased its target from $450 to $635, highlighting AMD’s expanding dominance in AI server technology and EPYC CPU products. Goldman Sachs has likewise adopted a more favorable position, referencing accelerating agentic AI CPU requirements.
Bank of America raised its price target to $560 from $500 with a Buy rating in June. Conversely, JPMorgan adopted a more reserved posture, shifting to a Neutral stance with a $385 target — representing one of Wall Street’s more conservative assessments.
MarketBeat’s consensus rating reflects a Moderate Buy, with a mean price target of $458.92. Among 44 analysts surveyed, 28 recommend Buy, 13 suggest Hold, and one advises Sell.
First Quarter Results Exceed Expectations
AMD’s most recent quarterly disclosure, published on May 5th, exceeded analyst projections. The chipmaker reported earnings per share of $1.37 compared to the $1.29 estimate. Revenue totaled $10.25 billion against the consensus forecast of $9.90 billion.
Revenue expanded 37.8% relative to the corresponding quarter in the previous year, when AMD generated $0.96 per share. Analysts currently forecast $6.18 in earnings per share for the complete fiscal year.
The upcoming earnings announcement is anticipated around August 4th, with several Wall Street observers expecting another quarter featuring results above guidance and raised forward estimates.
Institutional Investment Trends
Regarding institutional positioning, Teachers Retirement System of Kentucky expanded its AMD holdings by 1.8% during the first quarter, elevating its position to 353,090 shares valued at approximately $71.8 million.
Norges Bank established a fresh AMD position valued at nearly $4.93 billion in the fourth quarter. Jennison Associates expanded its stake by 181.6% during that same timeframe. Franklin Resources increased its holdings by 340.1%.
Institutional investors and hedge funds collectively control 71.34% of AMD’s shares outstanding.
Concerning insider transactions, EVP Paul Darren Grasby divested shares valued at more than $10.8 million in May, while EVP Mark Papermaster sold approximately $3.2 million worth in June through a pre-established 10b5-1 trading arrangement.
AMD also unveiled a new AI campus collaboration, creating an additional channel connected to large-scale artificial intelligence infrastructure investments.
