Susquehanna Raises AMD Price Target to $620
Key Points
- Susquehanna maintained its Positive rating on Advanced Micro Devices, Inc. on October 21, 2026, lifting its price target to $620 from $550.
- Susquehanna's $620 price target implies 13.64% upside from Advanced Micro Devices, Inc.'s ($AMD) current $545.59 share price.
- The stock recently traded around $545.59, sitting well above its 200-day moving average of $395.87.
- Advanced Micro Devices carries a consensus strong buy rating and a mean price target of $627.65 across the analyst community.
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On October 21, 2026, Susquehanna maintained its Positive rating on Advanced Micro Devices, Inc. (NASDAQ: AMD) while lifting its price target to $620 from $550. The research note reflects the firm's forward-looking view on the semiconductor maker as it navigates demand across its data center, client, and gaming segments.
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Advanced Micro Devices, Inc.
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Susquehanna's Call on Advanced Micro Devices, Inc.
In its note issued on October 21, 2026, Susquehanna kept a Positive rating on Advanced Micro Devices, Inc. and raised its target to $620 from $550. The update follows previous target adjustments from other Wall Street firms covering the semiconductor company.
Other Institutional Activity in Advanced Micro Devices, Inc.
Charles Schwab Trust opened a new position with 600 shares valued at $367,056. Sumitomo Mitsui DS Asset Management Company grew its holdings by 6,793 shares, ending with 272,294 shares worth about $166,578,577 following a 2.6% increase. Accurate Wealth Management lifted its stake by 2,454 shares, finishing with 16,040 shares valued at roughly $9,696,173 after an 18.1% boost.
Advanced Micro Devices, Inc. Stock Up 3.2%
Advanced Micro Devices, Inc. recently traded around $545.59, putting it down about 1.0% from its October 21, 2026 closing price of $550.97. The shares sit up about 1.4% since the 50-day moving average of $538.23 and stand up about 37.8% compared to the 200-day moving average of $395.87. The stock remains down about 17.1% from its 52-week high of $658.52 and up about 189.9% from its 52-week low of $188.22. The company commands a market capitalization of roughly $878.35 billion, with a trailing price-to-earnings ratio of 137.26 and a forward P/E of 34.14.
$AMD price target
Advanced Micro Devices, Inc. daily closes and this analyst's $620 target. Not advice.
Recent Earnings
Advanced Micro Devices, Inc. posted trailing twelve month revenue of $41.3 billion and earnings of $3.92 per share, accompanied by a net profit margin of 15.6% and a return on equity of 10.2%. Investors await the next financial update when the company reports earnings on November 3, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
21 analysts raised price targets.
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EPS & revenue
EPS beat estimates by 4.8%. Revenue beat estimates by 2.6%.
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Profit surprise
EBITDA missed by 4 percent. Operating income missed by 32 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
3 upgrades, 2 downgrades, 21 target raises.
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Earnings quality
Gross margin up 2.6 points. Operating margin up 3.6 points. Positive free cash flow.
Earnings Call Summary
AMD reported outstanding first quarter results with $10.3 billion in revenue, up 38 percent year over year. Data center revenue surged 57 percent driven by strong demand for EPYC server CPUs and Instinct GPUs. Management emphasized that Agentic AI and inference workloads are driving substantially higher CPU demand than expected, requiring more compute than prior models. Free cash flow nearly tripled to $2.6 billion, and operating margin expanded to 25 percent, showing strong operational leverage as the business scales into AI infrastructure.
Guidance AMD guided next quarter revenue to about $11.2 billion, up 46 percent year over year. Management raised full year data center CPU growth forecast to over 70 percent, driven by strong Agentic AI demand. They also raised the long-term server CPU market size forecast to over $120 billion by 2030, from $60 billion announced in November.
Slightly positive report. The quarter was acceptable, but the forward setup is not strong.
Insider Buying and Selling at Advanced Micro Devices, Inc.
Several company insiders trimmed their holdings ahead of the update. Chief financial officer Jean X Hu sold 15,000 shares on August 25, 2026, valued at $7,111,160. Chief executive officer Lisa T Su disposed of 95,000 shares on September 10, 2026, for a total of $48,145,666. Officer Forrest Eugene Norrod sold 17,261 shares on September 15, 2026, worth $8,683,156, and later sold 17,262 shares under a planned Rule 10b5-1 schedule on October 15, 2026, at an average price of $540.70 for a total value of $9,333,585.84.
Analysts Set New Price Targets
Stifel maintained its Buy rating on October 5, 2026, raising its target from $635 to $700. Citigroup kept a Buy rating on October 6, 2026, lifting its target from $575 to $800. Mizuho maintained an Outperform rating on October 6, 2026, moving its target from $580 to $705. Wedbush reiterated an Outperform rating on October 20, 2026, leaving its target flat at $600. Across the broader analyst community, the stock carries a consensus strong buy recommendation and a mean price target of $627.65 based on 51 opinions.
About Advanced Micro Devices, Inc.
Advanced Micro Devices, Inc. builds semiconductors and microprocessors for international markets, supplying chips that power data centers, personal computers, gaming consoles, and embedded devices. The company's hardware underpins modern cloud infrastructure and artificial intelligence workloads, making its technological roadmap a key focal point for institutional investors and Wall Street analysts alike.
Bottom Line
Susquehanna's updated target highlights steady sentiment around the chipmaker as market participants look ahead to the company's next earnings report on November 3, 2026. Observers will continue tracking institutional filings and analyst revisions to gauge demand across the firm's core segments.
Related Filing Alerts
Source: Susquehanna's rating change on $AMD (Oct 21, 2026). Written by software, not financial advice. How we make alerts