Hudson Canyon Capital Management bought a new position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD – Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 9,550 shares of the semiconductor manufacturer’s stock, valued at approximately $1,943,000.
Several other large investors also recently bought and sold shares of the stock. Joseph Group Capital Management purchased a new position in shares of Advanced Micro Devices in the 4th quarter valued at about $25,000. Cornerstone Financial Management LLC purchased a new stake in shares of Advanced Micro Devices during the fourth quarter worth approximately $27,000. Sarver Vrooman Wealth Advisors acquired a new stake in Advanced Micro Devices in the fourth quarter valued at approximately $27,000. Basepoint Wealth LLC purchased a new position in Advanced Micro Devices in the fourth quarter worth approximately $30,000. Finally, Wilkerson Advisory Group LLC purchased a new position in Advanced Micro Devices in the fourth quarter worth approximately $33,000. Hedge funds and other institutional investors own 71.34% of the company’s stock.
Analyst Upgrades and Downgrades
AMD has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price objective on shares of Advanced Micro Devices from $505.00 to $615.00 and gave the company an “overweight” rating in a research report on Tuesday, June 30th. Bank of America boosted their target price on shares of Advanced Micro Devices from $550.00 to $620.00 and gave the stock a “buy” rating in a research note on Tuesday. TD Cowen increased their target price on Advanced Micro Devices from $600.00 to $675.00 and gave the company a “buy” rating in a report on Monday. Susquehanna raised their price target on Advanced Micro Devices from $375.00 to $450.00 and gave the company a “positive” rating in a research note on Wednesday, May 6th. Finally, Truist Financial set a $478.00 price target on Advanced Micro Devices in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $467.84.
Advanced Micro Devices News Roundup
Here are the key news stories impacting Advanced Micro Devices this week:
- Positive Sentiment: Several analysts raised price targets on AMD, including Bank of America to $620 and KeyBanc to $725, reinforcing the view that the stock still has meaningful upside tied to its AI and server businesses. Benzinga report on Bank of America target hike
- Positive Sentiment: Investors are also reacting to expectations that AMD could deliver a beat-and-raise quarter, with Bank of America citing surging demand for EPYC CPUs and AI accelerators. Barchart article on AMD beat-and-raise expectations
- Positive Sentiment: Broader semiconductor shares rebounded after Monday’s selloff as war and supply-chain fears eased, lifting AMD along with peers like Nvidia and Intel. Yahoo Finance article on chip rebound
- Positive Sentiment: Reports that AMD is following Nvidia’s playbook in AI infrastructure, plus news of its AI Developer Program and other AI ecosystem activity, added to optimism that AMD is strengthening its long-term competitive position in AI. Barchart article on AMD following Nvidia’s playbook
- Neutral Sentiment: AMD also benefited from a positive shift in China’s AI chips outlook, which helped improve the tone across the semiconductor sector. TipRanks article on China AI chips scenario
- Negative Sentiment: Some reports still point to near-term volatility, including recent selling pressure from macro and geopolitical worries, even as the stock has since bounced. Benzinga article on AMD drop from supply-chain fears
Advanced Micro Devices Stock Performance
NASDAQ AMD opened at $548.13 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.72 and a quick ratio of 1.96. Advanced Micro Devices, Inc. has a 1 year low of $149.22 and a 1 year high of $584.73. The company has a market capitalization of $893.78 billion, a PE ratio of 179.72, a P/E/G ratio of 1.57 and a beta of 2.47. The company has a fifty day moving average of $499.06 and a two-hundred day moving average of $324.25.
Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last posted its earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.08. Advanced Micro Devices had a return on equity of 9.55% and a net margin of 13.37%.The business had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $9.90 billion. During the same quarter in the previous year, the firm earned $0.96 earnings per share. The business’s revenue was up 37.8% compared to the same quarter last year. As a group, analysts expect that Advanced Micro Devices, Inc. will post 6.18 earnings per share for the current year.
Insider Activity at Advanced Micro Devices
In other Advanced Micro Devices news, CEO Lisa T. Su sold 125,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $460.69, for a total value of $57,586,250.00. Following the completion of the sale, the chief executive officer owned 2,896,899 shares in the company, valued at approximately $1,334,572,400.31. The trade was a 4.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Forrest Eugene Norrod sold 19,487 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $431.40, for a total value of $8,406,691.80. Following the completion of the sale, the executive vice president owned 324,527 shares of the company’s stock, valued at approximately $140,000,947.80. This represents a 5.66% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 368,739 shares of company stock valued at $159,602,431 over the last 90 days. 0.50% of the stock is owned by insiders.
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.
Featured Articles
- Five stocks we like better than Advanced Micro Devices
- Why Fastenal’s Latest Drop Could Be Its Biggest Opportunity Yet
- 3 Overlooked Energy ETFs Delivering Strong Returns and Income
- 3 Space Stocks That Could Outshine SpaceX After Its IPO
- JPMorgan’s Q2 Strength Gives the Stock Rally New Support
Want to see what other hedge funds are holding AMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Advanced Micro Devices, Inc. (NASDAQ:AMD – Free Report).
Receive News & Ratings for Advanced Micro Devices Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advanced Micro Devices and related companies with MarketBeat.com's FREE daily email newsletter.
