First Trust Advisors LP decreased its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD – Free Report) by 12.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,186,116 shares of the semiconductor manufacturer’s stock after selling 174,539 shares during the quarter. First Trust Advisors LP’s holdings in Advanced Micro Devices were worth $241,291,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Jefferies Financial Group Inc. raised its holdings in shares of Advanced Micro Devices by 6,228.8% in the 4th quarter. Jefferies Financial Group Inc. now owns 308,021 shares of the semiconductor manufacturer’s stock worth $65,966,000 after purchasing an additional 303,154 shares during the period. Boomfish Wealth Group LLC bought a new position in Advanced Micro Devices during the first quarter valued at $1,193,000. Dimensional Fund Advisors LP grew its holdings in Advanced Micro Devices by 6.0% during the first quarter. Dimensional Fund Advisors LP now owns 5,142,516 shares of the semiconductor manufacturer’s stock valued at $1,045,954,000 after purchasing an additional 291,165 shares during the period. Williamson Legacy Group LLC purchased a new stake in Advanced Micro Devices in the fourth quarter worth $1,118,000. Finally, Thoroughbred Financial Services LLC increased its position in Advanced Micro Devices by 8.8% in the fourth quarter. Thoroughbred Financial Services LLC now owns 32,827 shares of the semiconductor manufacturer’s stock worth $7,030,000 after buying an additional 2,654 shares during the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.
Wall Street Analyst Weigh In
AMD has been the topic of a number of recent research reports. BTIG Research raised Advanced Micro Devices to a “buy” rating in a research report on Wednesday, May 6th. Raymond James Financial assumed coverage on Advanced Micro Devices in a report on Wednesday, May 6th. They issued a “market perform” rating for the company. JPMorgan Chase & Co. boosted their price objective on Advanced Micro Devices from $270.00 to $385.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Wolfe Research set a $450.00 price objective on shares of Advanced Micro Devices and gave the company an “outperform” rating in a report on Monday, June 15th. Finally, Jefferies Financial Group lowered shares of Advanced Micro Devices from a “buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Advanced Micro Devices presently has an average rating of “Moderate Buy” and an average price target of $468.65.
Insider Transactions at Advanced Micro Devices
In related news, EVP Forrest Eugene Norrod sold 19,487 shares of the company’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 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark D. Papermaster sold 6,000 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president directly owned 1,233,687 shares in the company, valued at $661,663,348.71. This trade represents a 0.48% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 341,630 shares of company stock valued at $152,147,456. Company insiders own 0.50% of the company’s stock.
Advanced Micro Devices News Roundup
Here are the key news stories impacting Advanced Micro Devices this week:
- Positive Sentiment: Anthropic’s multi-year plan to deploy up to 2GW of AMD Instinct MI450 GPUs could become a major new revenue stream for AMD. AMD and Anthropic Sign Major Chips-and-Investment Deal
- Positive Sentiment: AMD’s planned investment in Anthropic signals a deeper strategic alliance and could help the company win more AI infrastructure customers. AMD to invest up to $5 billion in Anthropic, WSJ Reports
- Positive Sentiment: Analysts are becoming more confident that the Anthropic deal can improve AMD’s long-term revenue outlook and help narrow the gap with Nvidia. AMD Stock Rises as Wells Fargo Gains ‘Further Confidence’ in Revenue after Anthropic Deal
- Neutral Sentiment: AMD also remains in focus ahead of its Aug. 4 earnings report and upcoming AI event, keeping expectations elevated for more customer wins and product updates.
Advanced Micro Devices Price Performance
Shares of NASDAQ AMD opened at $552.33 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.96 and a current ratio of 2.72. Advanced Micro Devices, Inc. has a fifty-two week low of $149.22 and a fifty-two week high of $584.73. The stock has a market cap of $900.63 billion, a PE ratio of 181.09, a price-to-earnings-growth ratio of 1.58 and a beta of 2.47. The stock has a fifty day moving average of $508.85 and a 200-day moving average of $337.19.
Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 9.55% and a net margin of 13.37%.The firm’s quarterly revenue was up 37.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.96 EPS. Equities research analysts anticipate that Advanced Micro Devices, Inc. will post 6.25 earnings per share for the current year.
Advanced Micro Devices Company 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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