Abacus Wealth Partners LLC Has $2.87 Million Holdings in Advanced Micro Devices, Inc. $AMD

Key Points

• Abacus Wealth Partners increased its stake in Advanced Micro Devices by 146.7% in the fourth quarter, ending with 13,386 shares valued at about $2.87 million.
• AMD reported strong quarterly results, with EPS of $1.37 and revenue of $10.25 billion, both beating Wall Street expectations. Revenue rose 37.8% year over year.
• Institutional ownership remains high, with funds and hedge funds holding about 71.34% of AMD shares, while several analysts recently raised price targets following the earnings beat.

Abacus Wealth Partners LLC boosted its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 146.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,386 shares of the semiconductor manufacturer's stock after acquiring an additional 7,961 shares during the quarter. Abacus Wealth Partners LLC's holdings in Advanced Micro Devices were worth $2,867,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Advanced Micro Devices by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 158,522,860 shares of the semiconductor manufacturer's stock valued at $33,949,256,000 after buying an additional 2,525,109 shares during the last quarter. State Street Corp lifted its holdings in shares of Advanced Micro Devices by 2.4% during the 3rd quarter. State Street Corp now owns 73,824,441 shares of the semiconductor manufacturer's stock valued at $11,944,056,000 after buying an additional 1,755,182 shares during the last quarter. Amundi lifted its holdings in shares of Advanced Micro Devices by 17.5% during the 3rd quarter. Amundi now owns 13,486,227 shares of the semiconductor manufacturer's stock valued at $2,181,937,000 after buying an additional 2,012,865 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Advanced Micro Devices by 6.5% during the 3rd quarter. Invesco Ltd. now owns 13,348,413 shares of the semiconductor manufacturer's stock valued at $2,159,640,000 after buying an additional 813,844 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Advanced Micro Devices by 1.7% during the 3rd quarter. Legal & General Group Plc now owns 11,579,113 shares of the semiconductor manufacturer's stock valued at $1,873,385,000 after buying an additional 191,590 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Advanced Micro Devices Stock Performance

Shares of NASDAQ AMD opened at $424.10 on Friday. The company has a quick ratio of 1.96, a current ratio of 2.72 and a debt-to-equity ratio of 0.04. The business's 50 day moving average is $273.49 and its two-hundred day moving average is $240.52. The company has a market cap of $691.54 billion, a P/E ratio of 139.05, a P/E/G ratio of 1.26 and a beta of 2.40. Advanced Micro Devices, Inc. has a 12 month low of $107.67 and a 12 month high of $469.21.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 EPS for the quarter, topping the consensus estimate of $1.29 by $0.08. The company had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $9.90 billion. Advanced Micro Devices had a return on equity of 9.55% and a net margin of 13.37%.The company's revenue for the quarter was up 37.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.96 EPS. On average, equities analysts expect that Advanced Micro Devices, Inc. will post 6.2 EPS for the current year.

More Advanced Micro Devices News

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

• Positive Sentiment: Q1 earnings and revenue both topped expectations, with data center sales up sharply on strong demand for EPYC CPUs and Instinct GPUs.
• Positive Sentiment: Several analysts raised price targets after the earnings report, citing AMD’s accelerating AI and data center growth.
• Positive Sentiment: AMD expanded FSR 4.1 support to older GPUs and introduced new Ryzen PRO 9000 offerings, reinforcing product momentum in client and gaming.

Insider Activity at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 31,320 shares of Advanced Micro Devices stock in a transaction dated Friday, April 24th. The shares were 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 approximately $432,612,950. The trade was a 2.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Paul Darren Grasby sold 24,376 shares of Advanced Micro Devices stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $444.39, for a total transaction of $10,832,450.64. Following the sale, the executive vice president owned 105,222 shares in the company, valued at approximately $46,759,604.58. This trade represents a 18.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 309,598 shares of company stock worth $105,644,316. 0.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

AMD has been the subject of several research reports. Oppenheimer lowered Advanced Micro Devices from a "market perform" rating to a "market perform" rating in a report on Wednesday, May 6th. Piper Sandler reissued an "overweight" rating on shares of Advanced Micro Devices in a research note on Wednesday, February 25th. Jefferies Financial Group downgraded Advanced Micro Devices from a "buy" rating to a "hold" rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. raised 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. Finally, Wells Fargo & Company raised their price objective on Advanced Micro Devices from $345.00 to $505.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $396.95.

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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