Tempo Wealth LLC acquired a new position in Advanced Micro Devices, Inc. (NASDAQ:AMD – Free Report) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 33,161 shares of the semiconductor manufacturer’s stock, valued at approximately $7,102,000. Advanced Micro Devices comprises 1.3% of Tempo Wealth LLC’s investment portfolio, making the stock its 20th biggest holding.
Several other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new position in Advanced Micro Devices in the 4th quarter worth about $4,929,312,000. Jennison Associates LLC raised its holdings in shares of Advanced Micro Devices by 181.6% during the fourth quarter. Jennison Associates LLC now owns 10,910,310 shares of the semiconductor manufacturer’s stock valued at $2,336,552,000 after buying an additional 7,035,991 shares during the last quarter. Cardano Risk Management B.V. acquired a new position in shares of Advanced Micro Devices during the fourth quarter worth approximately $1,000,783,000. Wellington Management Group LLP boosted its position in shares of Advanced Micro Devices by 335.9% during the third quarter. Wellington Management Group LLP now owns 4,847,825 shares of the semiconductor manufacturer’s stock worth $784,330,000 after buying an additional 3,735,807 shares during the period. Finally, Franklin Resources Inc. grew its holdings in Advanced Micro Devices by 340.1% in the 4th quarter. Franklin Resources Inc. now owns 4,747,834 shares of the semiconductor manufacturer’s stock worth $1,016,796,000 after buying an additional 3,669,054 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Advanced Micro Devices
In other news, EVP Mark D. Papermaster sold 6,000 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $536.33, for a total transaction of $3,217,980.00. Following the completion of the sale, the executive vice president directly owned 1,233,687 shares of the company’s stock, valued at $661,663,348.71. This represents a 0.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Paul Darren Grasby sold 24,376 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $444.39, for a total value of $10,832,450.64. Following the completion of the transaction, the executive vice president owned 105,222 shares of the company’s stock, valued at $46,759,604.58. This trade represents a 18.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 378,032 shares of company stock valued at $161,876,596 over the last 90 days. 0.50% of the stock is owned by insiders.
Advanced Micro Devices News Summary
- Positive Sentiment: Bernstein raised its price target on AMD to $600, citing strong AI infrastructure demand and improving server CPU trends. Why Is AMD Stock Gaining Thursday?
- Positive Sentiment: Citi upgraded AMD to Buy and lifted its target to $575, pointing to potential GPU sales to Meta and broader upside in the AI server CPU market. Citi Upgrades AMD Stock to ‘Buy’ on Massive Meta GPU Sales Potential
- Positive Sentiment: AMD announced it is acquiring MEXT, a memory optimization company, which could strengthen AMD’s AI data center offerings by helping address workload bottlenecks. AMD (AMD) Buys MEXT To Tackle AI Data Center Memory Bottlenecks
- Positive Sentiment: AMD signed a definitive agreement with Rackspace to deploy 30 MW of AMD-based AI compute across Rackspace’s global data centers, expanding its enterprise AI footprint. AMD and Rackspace Team Up on a 30 MW AI Compute Agreement
- Neutral Sentiment: Some commentary warned AMD may have run too far, too fast, and another article flagged margin pressure as the company shifts deeper into AI growth bets. One Warning Signal AMD Investors Can’t Miss
- Neutral Sentiment: There was also an insider sale by EVP Mark Papermaster, but it was made under a pre-arranged trading plan, limiting the negative signal for investors. Mark Papermaster Sells 6,000 Shares of Advanced Micro Devices (NASDAQ:AMD) Stock
Advanced Micro Devices Trading Up 5.2%
Advanced Micro Devices stock opened at $539.33 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.96 and a current ratio of 2.72. The firm has a market cap of $879.43 billion, a price-to-earnings ratio of 176.83, a price-to-earnings-growth ratio of 1.50 and a beta of 2.50. Advanced Micro Devices, Inc. has a 1 year low of $126.82 and a 1 year high of $558.37. The firm’s 50 day moving average price is $411.01 and its two-hundred day moving average price is $283.43.
Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.08. The business had revenue of $10.25 billion during the quarter, compared to analyst estimates of $9.90 billion. Advanced Micro Devices had a return on equity of 9.55% and a net margin of 13.37%.The company’s revenue was up 37.8% compared to the same quarter last year. During the same period last year, the company posted $0.96 EPS. On average, research analysts predict that Advanced Micro Devices, Inc. will post 6.2 EPS for the current fiscal year.
Analysts Set New Price Targets
Several analysts recently commented on the company. Susquehanna raised their target price on Advanced Micro Devices from $375.00 to $450.00 and gave the company a “positive” rating in a research report on Wednesday, May 6th. Morgan Stanley boosted their price target on Advanced Micro Devices from $360.00 to $410.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Jefferies Financial Group cut Advanced Micro Devices from a “buy” rating to a “hold” rating in a research note on Wednesday, May 6th. Benchmark raised their price target on Advanced Micro Devices from $325.00 to $485.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, Northland Securities restated a “market perform” rating and set a $260.00 price objective on shares of Advanced Micro Devices in a research note on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $430.68.
Get Our Latest Stock Analysis on Advanced Micro Devices
Advanced Micro Devices Profile
Advanced Micro Devices, Inc (NASDAQ: AMD) is a global semiconductor company that designs and sells microprocessors, graphics processors, chipsets and adaptive computing solutions for a broad set of markets. The company’s product portfolio includes consumer and commercial CPUs under the Ryzen and Threadripper brands, data center processors under the EPYC brand, and Radeon graphics processing units for gaming and professional visualization. AMD also offers semi-custom system-on-chip (SoC) products for gaming consoles and other specialized applications, and provides supporting software and platform technologies for OEMs, cloud service providers and end users.
Founded in 1969, AMD has evolved from a supplier of logic chips into a diversified, fabless semiconductor designer.
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