Advanced Micro Devices (NASDAQ: AMD): Raymond James Upgrade, Institutional Moves, and Analyst Outlook

• Raymond James upgraded Advanced Micro Devices to “Strong Buy” from “Outperform” and raised its price target to $641 from $565.
• ARK Invest sold 37,977 AMD shares worth approximately $18.1 million, while Arete Wealth Advisors disclosed a new 10,124-share position.
• TipRanks reports a “Strong Buy” consensus and an average 12-month price target of $647.19, although consensus figures vary among data providers.

Advanced Micro Devices (NASDAQ: AMD) is a global semiconductor company that designs processors, graphics chips, adaptive computing products, and related technologies. AMD competes with NVIDIA (NASDAQ: NVDA) in AI accelerators and with Intel and Arm-based chipmakers in the data-center processor market.

The recent analyst upgrade came from Raymond James. Analyst Simon Leopold upgraded AMD to “Strong Buy” from “Outperform” and raised his price target to $641 from $565. The analyst cited AMD’s position in data-center CPUs and growing demand associated with agentic AI workloads. Following the upgrade, AMD shares gained 4.9% and closed at $479.18. UBS maintained a positive view of AMD. Earlier reports showed UBS maintaining its Buy rating while increasing its price target, including a June increase to $670 from $455. 

AMD shares subsequently came under pressure, trading at approximately $465.53 on August 28. It is reasonable to describe the decline as occurring after a substantial rally. Cathie Wood’s ARK Invest sold 37,977 AMD shares, valued at approximately $18.1 million, while reallocating capital toward other semiconductor companies, including Broadcom and Cerebras Systems. AMD closed at $476.67 on the day associated with the disclosed transaction. 

Separately, Arete Wealth Advisors disclosed a new AMD position covering the second quarter of 2026. The firm purchased 10,124 shares, valued at approximately $5.88 million at the reporting date. However, this regulatory filing does not explain Arete’s investment rationale or expected holding period. 

The Brighton Jones transaction should be presented cautiously. Its reported 178.2% increase occurred during an earlier fourth quarter, when the firm added 29,438 shares and brought its position to 45,956 shares. It should not be grouped with Arete’s newer second-quarter filing as though both transactions occurred simultaneously.

Analyst consensus also depends on the data provider. TipRanks reports a “Strong Buy” consensus based on 28 Buy and six Hold ratings, with an average target of $647.19. TipRanks calculated approximately 35.1% upside using a reference price of $479.18. Using AMD’s later price of approximately $465.53 would imply about 39% upside. By comparison, other providers report lower average targets and less bullish consensus ratings.