Glenview Trust Co lifted its position in Advanced Micro Devices, Inc. (NASDAQ:AMD – Free Report) by 9.4% in the fourth quarter, HoldingsChannel reports. The firm owned 34,987 shares of the semiconductor manufacturer’s stock after buying an additional 2,994 shares during the period. Glenview Trust Co’s holdings in Advanced Micro Devices were worth $7,493,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of AMD. Brighton Jones LLC grew its holdings in shares of Advanced Micro Devices by 178.2% in the fourth quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer’s stock valued at $5,551,000 after purchasing an additional 29,438 shares during the period. Revolve Wealth Partners LLC boosted its stake in Advanced Micro Devices by 2.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer’s stock worth $1,001,000 after buying an additional 234 shares during the period. Sivia Capital Partners LLC boosted its stake in Advanced Micro Devices by 125.1% during the second quarter. Sivia Capital Partners LLC now owns 5,344 shares of the semiconductor manufacturer’s stock worth $758,000 after buying an additional 2,970 shares during the period. United Bank boosted its stake in Advanced Micro Devices by 22.0% during the second quarter. United Bank now owns 13,255 shares of the semiconductor manufacturer’s stock worth $1,881,000 after buying an additional 2,392 shares during the period. Finally, Schnieders Capital Management LLC. boosted its stake in Advanced Micro Devices by 361.0% during the second quarter. Schnieders Capital Management LLC. now owns 9,230 shares of the semiconductor manufacturer’s stock worth $1,310,000 after buying an additional 7,228 shares during the period. Hedge funds and other institutional investors own 71.34% of the company’s stock.
Insider Buying and Selling at Advanced Micro Devices
In other news, EVP Forrest Eugene Norrod sold 19,487 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $431.40, for a total transaction of $8,406,691.80. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark D. Papermaster sold 31,320 shares of the stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $350.00, for a total transaction of $10,962,000.00. Following the sale, the executive vice president directly owned 1,236,037 shares in the company, valued at $432,612,950. This represents a 2.47% 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 sold a total of 329,085 shares of company stock worth $114,051,007 over the last ninety days. Company insiders own 0.50% of the company’s stock.
Key Advanced Micro Devices News
- Positive Sentiment: CEO Lisa Su said AMD expects strong CPU growth over the next five years, helping fuel optimism about long-term demand for its data center chips. AMD Stock Rallies as Lisa Su Expects CPU Growth of ‘35% Each Year’ for the Next 5 Years
- Positive Sentiment: AMD began ramping production of its “Venice” EPYC CPUs on TSMC’s 2nm node, a major manufacturing milestone that supports its AI and server growth story. AMD Announces Production Ramp of Next-Generation AMD EPYC Processor “Venice” on TSMC 2nm Process Technology
- Positive Sentiment: AMD announced more than $10 billion of investment across Taiwan’s AI ecosystem to expand advanced packaging capacity and support future AI deployments, including the Helios rack-scale platform. AMD Announces More Than $10 Billion in Taiwan Ecosystem Investments to Accelerate AI Infrastructure
- Positive Sentiment: Nvidia’s strong AI commentary and broader chip-sector momentum are boosting confidence that AMD will benefit from continued AI infrastructure spending. AMD Stock (AMD) Hits All-Time High as Nvidia Earnings Boost Confidence in the AI Trade
- Neutral Sentiment: Some commentary suggests AMD’s sharp rally has already priced in a lot of good news, so investors may continue debating valuation after the recent run-up. After a Q1 Blowout and a Soaring Share Price, Is AMD Stock Still a Buy?
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on the stock. Northland Securities reaffirmed a “market perform” rating and set a $260.00 target price on shares of Advanced Micro Devices in a research note on Monday, April 27th. Stifel Nicolaus increased their target price on shares of Advanced Micro Devices from $320.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Zacks Research raised shares of Advanced Micro Devices from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. KeyCorp increased their target price on shares of Advanced Micro Devices from $330.00 to $530.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Finally, Barclays increased their target price on shares of Advanced Micro Devices from $300.00 to $500.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $410.00.
Read Our Latest Stock Analysis on AMD
Advanced Micro Devices Price Performance
Shares of AMD opened at $467.51 on Monday. The stock has a market capitalization of $762.32 billion, a PE ratio of 153.28, a P/E/G ratio of 1.37 and a beta of 2.40. Advanced Micro Devices, Inc. has a 1 year low of $107.67 and a 1 year high of $481.41. 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 company’s 50-day simple moving average is $297.43 and its 200-day simple moving average is $246.77.
Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.08. The business had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $9.90 billion. Advanced Micro Devices had a net margin of 13.37% and a return on equity of 9.55%. The business’s quarterly revenue was up 37.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.96 earnings per share. Analysts forecast that Advanced Micro Devices, Inc. will post 6.2 earnings per share for the current fiscal year.
About Advanced Micro Devices
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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