AMD is getting a double vote of confidence from Wall Street. On June 12, Citi upgraded AMD to Buy from Neutral and raised its price target to $575, up from $460. Then on June 11, BofA raised its target to $560 from $500 and kept its Buy rating in place.
Advanced Micro Devices, Inc., AMD
AMD opened at $511.57 on Monday, up 4.73%, putting it close to its 52-week high of $546.44. The stock has moved sharply from its 52-week low of $115.06.
Citi analyst Atif Malik said AMD is “emerging as a legit second source” in the GPU market. The firm believes investors still see AMD mainly as a CPU company, and that the GPU opportunity hasn’t been priced in yet. Citi also sees AMD well-positioned to win a large portion of business from Meta.
BofA raised its 2030 server CPU total addressable market forecast to more than $170 billion, up from $125 billion. That implies nearly fivefold growth and a 37% compound annual growth rate between 2025 and 2030.
The bank pointed to agentic AI as a key demand driver. It sees the trend expanding the CPU market and benefiting both x86 players and ARM challengers.
AMD’s most recent quarterly earnings backed up the bullish case. The company reported $1.37 EPS for Q1, beating the consensus estimate of $1.29. Revenue came in at $10.25 billion, ahead of the $9.90 billion estimate, and up 37.8% year-over-year.
AMD has a market cap of $834.17 billion, a P/E ratio of 167.73, and a beta of 2.50. Analysts forecast $6.20 EPS for the full fiscal year.
Despite the bullish analyst tone, insider selling has picked up. CEO Lisa Su sold 125,000 AMD shares on June 10 at an average price of $460.69, for a total of over $57.5 million. The sale was executed under a pre-arranged Rule 10b5-1 plan.
Director Nora Denzel also sold 8,626 shares on June 2 at $522.00, totalling about $4.5 million.
Over the last 90 days, insiders have sold 372,032 shares worth approximately $158.7 million combined.
Institutional investors own 71.34% of AMD stock. Several smaller funds added new positions in Q4, including Joseph Group Capital Management, Sarver Vrooman Wealth Advisors, and Basepoint Wealth LLC.
The consensus analyst rating on AMD sits at “Moderate Buy,” with 29 Buy ratings, 13 Hold ratings, and one Sell. The consensus price target is $424.59, though the two most recent upgrades are both well above that figure.
AMD’s 50-day moving average is $386.41 and its 200-day moving average is $274.60.
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