QRG Capital Management Inc. lifted its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD – Free Report) by 15.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 287,822 shares of the semiconductor manufacturer’s stock after acquiring an additional 38,976 shares during the period. Advanced Micro Devices accounts for about 1.2% of QRG Capital Management Inc.’s investment portfolio, making the stock its 14th largest position. QRG Capital Management Inc.’s holdings in Advanced Micro Devices were worth $168,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of the stock. BlackRock Inc. increased its position in Advanced Micro Devices by 3.1% during the second quarter. BlackRock Inc. now owns 150,301,510 shares of the semiconductor manufacturer’s stock worth $87,311,650,000 after purchasing an additional 4,535,126 shares during the last quarter. State Street Corp boosted its holdings in shares of Advanced Micro Devices by 2.9% in the 2nd quarter. State Street Corp now owns 76,920,783 shares of the semiconductor manufacturer’s stock valued at $46,606,266,000 after purchasing an additional 2,149,563 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Advanced Micro Devices by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 37,584,845 shares of the semiconductor manufacturer’s stock valued at $8,015,897,000 after buying an additional 287,525 shares during the period. Bank of America Corp DE purchased a new stake in shares of Advanced Micro Devices during the 2nd quarter valued at $7,022,226,000. Finally, Jennison Associates LLC increased its holdings in shares of Advanced Micro Devices by 5.8% during the 2nd quarter. Jennison Associates LLC now owns 9,972,952 shares of the semiconductor manufacturer’s stock worth $5,793,388,000 after buying an additional 545,575 shares during the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.
Advanced Micro Devices Stock Down 1.5%
NASDAQ AMD traded down $9.16 during trading hours on Wednesday, hitting $614.61. The company had a trading volume of 16,287,319 shares, compared to its average volume of 33,389,879. The firm’s 50 day moving average is $497.38 and its 200 day moving average is $422.43. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.61 and a quick ratio of 1.91. Advanced Micro Devices, Inc. has a fifty-two week low of $154.78 and a fifty-two week high of $624.69. The company has a market capitalization of $1.00 trillion, a price-to-earnings ratio of 158.00, a P/E/G ratio of 6.38 and a beta of 2.48.
Trending Headlines about Advanced Micro Devices
Here are the key news stories impacting Advanced Micro Devices this week:
- Positive Sentiment: AMD’s crossing of the $1 trillion market-cap milestone reflects strong investor confidence in its artificial-intelligence growth prospects. The company has benefited from expanding data-center deployments, major customer relationships and optimism that it can become a broader AI-computing platform. AMD Just Joined the $1 Trillion Club
- Positive Sentiment: CEO Lisa Su’s comments that mainstream “agentic AI” could drive a new CPU demand wave are supporting the bullish case for AMD’s EPYC processors and Instinct accelerators. Recent quarterly data-center revenue growth of 107% year over year has reinforced that outlook. CPUs Are Hot Again
- Positive Sentiment: Some analysts and strategists believe the rally can continue, with bullish commentary pointing to additional upside as Wall Street revises AMD’s earnings and price-target assumptions higher. AMD Just Cracked $1 Trillion
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on AMD. Wolfe Research set a $450.00 target price on Advanced Micro Devices and gave the stock an “outperform” rating in a research report on Monday, June 15th. Stifel Nicolaus upped their price target on Advanced Micro Devices from $450.00 to $635.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Wall Street Zen upgraded Advanced Micro Devices from a “hold” rating to a “buy” rating in a report on Saturday, August 29th. Argus lifted their price objective on Advanced Micro Devices from $450.00 to $625.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Rosenblatt Securities boosted their target price on Advanced Micro Devices from $665.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Three analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $565.12.
Read Our Latest Analysis on Advanced Micro Devices
Insider Activity
In other Advanced Micro Devices news, EVP Forrest Norrod sold 17,261 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $503.05, for a total value of $8,683,146.05. Following the completion of the transaction, the executive vice president owned 363,317 shares in the company, valued at $182,766,616.85. This represents a 4.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Paul Grasby sold 15,000 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $514.91, for a total transaction of $7,723,650.00. Following the completion of the sale, the executive vice president directly owned 117,687 shares of the company’s stock, valued at $60,598,213.17. This trade represents a 11.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 213,838 shares of company stock worth $105,533,836 in the last ninety days. 0.50% of the stock is currently owned by company insiders.
About Advanced Micro Devices
Advanced Micro Devices, Inc (NASDAQ: AMD) is a semiconductor company that designs high-performance computing, graphics and adaptive-processing products. Its portfolio includes central processing units (CPUs), graphics processing units (GPUs), accelerated processing units (APUs), field-programmable gate arrays (FPGAs) and adaptive system-on-chip products.
AMD serves customers across data centers, cloud computing, personal computers, gaming consoles, embedded systems and industrial applications.
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