1,039 Shares in Advanced Micro Devices, Inc. $AMD Acquired by Signet Private Wealth LLC

Key Points

• Signet Private Wealth LLC initiated a new position in Advanced Micro Devices, buying 1,039 shares valued at about $211,000 in the first quarter.
• AMD's latest earnings topped estimates, with EPS of $1.37 versus $1.29 expected and revenue of $10.25 billion, up 37.8% from a year earlier.
• Despite solid fundamentals and upbeat analyst commentary, AMD shares fell 7.4% in recent trading, and insiders have also been selling stock over the past quarter.

Signet Private Wealth LLC bought a new stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,039 shares of the semiconductor manufacturer's stock, valued at approximately $211,000.

Several other hedge funds have also bought and sold shares of AMD. Norges Bank bought a new position in shares of Advanced Micro Devices in the 4th quarter worth $4,929,312,000. Jennison Associates LLC lifted its holdings in shares of Advanced Micro Devices by 181.6% during the 4th quarter. Jennison Associates LLC now owns 10,910,310 shares of the semiconductor manufacturer's stock worth $2,336,552,000 after acquiring an additional 7,035,991 shares during the last quarter. Cardano Risk Management B.V. bought a new stake in shares of Advanced Micro Devices during the 4th quarter worth $1,000,783,000. Wellington Management Group LLP grew its position in Advanced Micro Devices by 335.9% in the third quarter. Wellington Management Group LLP now owns 4,847,825 shares of the semiconductor manufacturer's stock worth $784,330,000 after acquiring an additional 3,735,807 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in Advanced Micro Devices by 340.1% in the fourth quarter. Franklin Resources Inc. now owns 4,747,834 shares of the semiconductor manufacturer's stock worth $1,016,796,000 after acquiring an additional 3,669,054 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors.

Advanced Micro Devices Trading Down 7.4%

Shares of AMD stock traded down $40.93 during trading hours on Tuesday, reaching $511.12. The company's stock had a trading volume of 12,422,560 shares, compared to its average volume of 37,302,523. The stock has a market capitalization of $833.44 billion, a P/E ratio of 167.47, a P/E/G ratio of 1.53 and a beta of 2.47. Advanced Micro Devices, Inc. has a one year low of $135.91 and a one year high of $584.73. The firm's fifty day simple moving average is $470.75 and its 200 day simple moving average is $308.01. The company has a current ratio of 2.72, a quick ratio of 1.96 and a debt-to-equity ratio of 0.04.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.08. The firm 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 business's revenue was up 37.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.96 earnings per share. Equities research analysts expect that Advanced Micro Devices, Inc. will post 6.15 EPS for the current year.

Insiders Place Their Bets

In other Advanced Micro Devices news, Director Nora Denzel sold 8,626 shares of the business's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $522.00, for a total transaction of $4,502,772.00. Following the transaction, the director directly owned 87,173 shares of the company's stock, valued at approximately $45,504,306. The trade was a 9.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the executive vice president owned 1,233,687 shares of the company's stock, valued at $661,663,348.71. This trade represents a 0.48% decrease in their ownership of the stock. 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 374,739 shares of company stock valued at $161,135,671 over the last quarter. 0.50% of the stock is owned by company insiders.

Key Stories Impacting Advanced Micro Devices

Here are the key news stories impacting Advanced Micro Devices this week:

• Positive Sentiment: Wall Street analysts remain constructive on AMD, with Goldman Sachs and Wells Fargo recently raising price targets on expectations for strong server CPU demand, pricing power, and continued AI-related growth. AMD, Nvidia, Micron, Oracle, Dell, Intel, and More Stocks That Explain Today’s Market
• Positive Sentiment: AMD also gained a new AI-use-case catalyst after Turing said it is adopting AMD GPUs for part of its self-driving AI training, which expands AMD beyond data centers and gaming into autonomous vehicles. AMD Gains AI Customer as $600 Million Self-Driving Startup Adopts Its GPUs
• Neutral Sentiment: Recent articles also highlighted AMD’s rapid share-price gains and its approach toward a possible $1 trillion valuation, but these pieces were mostly commentary on momentum rather than new fundamental news. AMD Is 11% Away From Joining the $1 Trillion Club. Could It Get There This Year?
• Negative Sentiment: The main drag today is a broader chip-stock selloff, with AMD falling alongside peers like Nvidia and Intel as investors worry the AI rally is stalling and trading sentiment in semiconductors turns risk-off. Intel and Applied Materials Dive 10%, AMD Craters 8% as Samsung Earnings Trigger Chip Selloff
• Negative Sentiment: Cathie Wood’s ARK Invest sold about $8 million of AMD shares, adding to some near-term caution even as analyst sentiment remains upbeat. AMD Stock: Cathie Wood Sells $8M in AMD Despite Growing Analyst Optimism

Analyst Ratings Changes

A number of research analysts recently commented on AMD shares. Wedbush increased their target price on Advanced Micro Devices from $290.00 to $400.00 and gave the company an "outperform" rating in a research note on Monday, May 4th. Sanford C. Bernstein set a $600.00 price target on Advanced Micro Devices and gave the stock an "outperform" rating in a research note on Wednesday, June 17th. Zacks Research lowered Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 3rd. Truist Financial set a $478.00 price objective on Advanced Micro Devices in a report on Wednesday, May 6th. Finally, UBS Group raised their price objective on Advanced Micro Devices from $455.00 to $670.00 and gave the company a "buy" rating in a report on Wednesday, June 24th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Advanced Micro Devices currently has a consensus rating of "Moderate Buy" and an average target price of $453.92.

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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