HITE Hedge Asset Management LLC Buys New Position in Advanced Micro Devices, Inc. $AMD

Key Points

• HITE Hedge Asset Management LLC acquired 9,733 shares of Advanced Micro Devices (AMD), valued at about $1,000,000, signaling institutional interest in the semiconductor firm.
• Advanced Micro Devices' earnings report showed a 31.7% revenue increase year-over-year, despite earnings per share falling short of analysts' predictions.
• Several analysts have upgraded AMD's stock ratings, with a new average price target of $180.12 and a general sentiment leaning towards a "Moderate Buy" rating.

HITE Hedge Asset Management LLC acquired a new stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 9,733 shares of the semiconductor manufacturer's stock, valued at approximately $1,000,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC grew its stake 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 acquiring an additional 29,438 shares in the last quarter. Revolve Wealth Partners LLC grew 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 in the last quarter. Bank Pictet & Cie Europe AG grew its stake in Advanced Micro Devices by 12.7% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer's stock worth $31,958,000 after buying an additional 29,825 shares in the last quarter. Capital Research Global Investors acquired a new stake in Advanced Micro Devices during the fourth quarter worth about $165,739,000. Finally, MML Investors Services LLC grew its stake in Advanced Micro Devices by 7.9% during the fourth quarter. MML Investors Services LLC now owns 321,445 shares of the semiconductor manufacturer's stock worth $38,827,000 after buying an additional 23,482 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMD has been the subject of a number of research reports. Morgan Stanley dropped their target price on shares of Advanced Micro Devices from $185.00 to $168.00 and set an "equal weight" rating for the company in a report on Wednesday, August 6th. Wall Street Zen raised shares of Advanced Micro Devices from a "sell" rating to a "hold" rating in a report on Monday, May 12th. Hsbc Global Res raised shares of Advanced Micro Devices from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 10th. Truist Financial increased their target price on shares of Advanced Micro Devices from $111.00 to $173.00 and gave the stock a "hold" rating in a report on Wednesday, August 6th. Finally, JPMorgan Chase & Co. increased their target price on shares of Advanced Micro Devices from $120.00 to $180.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Four analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $180.12.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Paul Darren Grasby sold 10,000 shares of Advanced Micro Devices stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $173.21, for a total transaction of $1,732,100.00. Following the sale, the executive vice president directly owned 125,505 shares in the company, valued at $21,738,721.05. The trade was a 7.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mark D. Papermaster sold 17,998 shares of Advanced Micro Devices stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $155.03, for a total value of $2,790,229.94. Following the sale, the executive vice president owned 1,713,710 shares in the company, valued at $265,676,461.30. The trade was a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.

Advanced Micro Devices Stock Up 2.5%

NASDAQ AMD traded up $4.0690 during mid-day trading on Friday, hitting $167.7790. The company's stock had a trading volume of 38,017,635 shares, compared to its average volume of 46,924,629. The company's 50 day simple moving average is $154.45 and its 200 day simple moving average is $121.67. Advanced Micro Devices, Inc. has a twelve month low of $76.48 and a twelve month high of $186.65. The company has a current ratio of 2.49, a quick ratio of 1.81 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $272.28 billion, a price-to-earnings ratio of 96.42, a PEG ratio of 1.95 and a beta of 1.94.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.06). Advanced Micro Devices had a net margin of 9.57% and a return on equity of 7.54%. The company had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.41 billion. During the same quarter last year, the business posted $0.69 earnings per share. Advanced Micro Devices's revenue was up 31.7% on a year-over-year basis. Advanced Micro Devices has set its Q3 2025 guidance at EPS. Analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Advanced Micro Devices announced that its board has authorized a share buyback program on Wednesday, May 14th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

About Advanced Micro Devices

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates through Data Center, Client, Gaming, and Embedded segments. The company offers x86 microprocessors and graphics processing units (GPUs) as an accelerated processing unit, chipsets, data center, and professional GPUs; and embedded processors, and semi-custom system-on-chip (SoC) products, microprocessor and SoC development services and technology, data processing unites, field programmable gate arrays (FPGA), and adaptive SoC products.