Key Takeaways
- TD Cowen upgraded AMD’s price target from $600 to $675 while maintaining its Buy rating
- The stock began Monday trading at $557.89 with a valuation of $909.70 billion
- First quarter earnings per share of $1.37 exceeded analyst projections of $1.29; revenue reached $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 investment firms including Cantor Fitzgerald ($700), Wells Fargo ($615), and Stifel ($635) recently increased their targets
TD Cowen announced an upgraded price target for AMD shares to $675 from a previous $600 on Monday, maintaining its Buy recommendation. This adjustment was part of a comprehensive second-quarter earnings forecast covering the compute and networking semiconductor sector.
Advanced Micro Devices, Inc., AMD
The investment firm noted that fundamentals throughout the sector “remain firm” and highlighted significant AI product releases scheduled for the latter half of 2026 as critical catalysts for continued growth. TD Cowen additionally emphasized that CPU demand stays robust, supported by agentic AI applications.
AMD commenced Monday’s session at $557.89. The shares currently hold a market capitalization of $909.70 billion with a 52-week range spanning from $141.60 to $584.73.
The 50-day moving average registers at $491.60, while the 200-day moving average stands at $319.65 — illustrating the substantial gains AMD has achieved in recent months.
TD Cowen isn’t the only firm adopting a more optimistic stance. Cantor Fitzgerald elevated its price objective to $700 from $500, assigning AMD an Overweight rating. Wells Fargo adjusted its target upward to $615 from $505, also maintaining an Overweight designation.
Stifel increased its forecast to $635 from $450, highlighting AMD’s expanding presence in AI servers and EPYC CPU markets. Goldman Sachs has similarly adopted a more favorable view, referencing accelerating agentic AI CPU demand.
Bank of America raised its price objective to $560 from $500 with a Buy rating in June. JPMorgan, however, shifted to a Neutral stance with a $385 target — representing one of the more conservative perspectives among analysts.
According to MarketBeat data, the consensus rating stands at Moderate Buy, with an average analyst price target of $458.92. Among 44 tracked analysts, 28 recommend Buy, 13 suggest Hold, and one advises Sell.
First Quarter Results Exceed Expectations
AMD’s most recent quarterly disclosure, issued on May 5th, surpassed projections. The semiconductor company reported earnings per share of $1.37 compared to estimates of $1.29. Revenue totaled $10.25 billion against the consensus forecast of $9.90 billion.
Revenue increased 37.8% versus the corresponding quarter in the prior year, when AMD delivered $0.96 per share. Analysts currently forecast full-year earnings per share of $6.18.
The upcoming earnings announcement is projected for approximately August 4th, with some Wall Street observers anticipating another beat-and-raise scenario.
Institutional Investor Movements
Regarding institutional holdings, 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 worth nearly $4.93 billion in the fourth quarter. Jennison Associates expanded its holdings by 181.6% during the same timeframe. Franklin Resources increased its stake by 340.1%.
Institutional investors and hedge funds combined control 71.34% of AMD’s total outstanding shares.
Concerning insider transactions, EVP Paul Darren Grasby divested shares valued at over $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 revealed a new AI campus collaboration, establishing another channel connected to large-scale AI infrastructure investment.
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