ABN AMRO Bank N.V. Increases Stock Position in Advanced Micro Devices, Inc. $AMD

Key Points

• ABN AMRO Bank N.V. increased its AMD stake by 11.4% in the first quarter, ending with 18,118 shares worth about $3.68 million.
• Institutional ownership remains heavy, with hedge funds and other investors holding 71.34% of Advanced Micro Devices shares. Several large funds, including Vanguard, State Street, and Geode Capital, also added to their positions.
• AMD’s recent results and analyst sentiment were positive: the company beat quarterly earnings and revenue estimates, and multiple firms raised price targets, with the consensus rating sitting at Moderate Buy.

ABN AMRO Bank N.V. grew its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 11.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,118 shares of the semiconductor manufacturer's stock after purchasing an additional 1,860 shares during the quarter. ABN AMRO Bank N.V.'s holdings in Advanced Micro Devices were worth $3,676,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its stake in Advanced Micro Devices by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 158,522,860 shares of the semiconductor manufacturer's stock valued at $33,949,256,000 after purchasing an additional 2,525,109 shares during the last quarter. State Street Corp grew its holdings in Advanced Micro Devices by 1.5% in the 4th quarter. State Street Corp now owns 74,919,276 shares of the semiconductor manufacturer's stock valued at $16,044,712,000 after buying an additional 1,094,835 shares during the period. Geode Capital Management LLC grew its holdings in Advanced Micro Devices by 0.8% in 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. Norges Bank acquired a new position in shares of Advanced Micro Devices during the 4th quarter valued at about $4,929,312,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Advanced Micro Devices by 0.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,325,288 shares of the semiconductor manufacturer's stock valued at $4,352,864,000 after acquiring an additional 55,969 shares during the last quarter. 71.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Forrest Eugene Norrod sold 19,487 shares of the company's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $431.40, for a total value of $8,406,691.80. Following the completion of the transaction, the executive vice president directly owned 324,527 shares in the company, valued at approximately $140,000,947.80. This represents a 5.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark D. Papermaster sold 6,000 shares of the firm's stock in a transaction on Monday, June 15th. The shares were 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 of the company's stock, valued at approximately $661,663,348.71. The trade was a 0.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 378,032 shares of company stock valued at $161,876,596. 0.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AMD. Wolfe Research set a $450.00 target price on shares of Advanced Micro Devices and gave the stock an "outperform" rating in a research report on Monday, June 15th. Rosenblatt Securities upped their price target on shares of Advanced Micro Devices from $300.00 to $490.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Roth Mkm reaffirmed a "buy" rating and set a $500.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, May 6th. TD Cowen lifted their price target on shares of Advanced Micro Devices from $500.00 to $600.00 and gave the company a "buy" rating in a report on Monday, June 1st. Finally, DA Davidson boosted their price objective on shares of Advanced Micro Devices from $375.00 to $425.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $440.41.

Advanced Micro Devices Stock Performance

Shares of AMD stock opened at $521.58 on Monday. The company has a current ratio of 2.72, a quick ratio of 1.96 and a debt-to-equity ratio of 0.04. The company has a market cap of $850.49 billion, a PE ratio of 171.01, a P/E/G ratio of 1.54 and a beta of 2.50. The company's fifty day simple moving average is $445.21 and its 200-day simple moving average is $296.64. Advanced Micro Devices, Inc. has a 52 week low of $133.50 and a 52 week high of $562.99.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share for the quarter, topping analysts' consensus estimates of $1.29 by $0.08. Advanced Micro Devices had a net margin of 13.37% and a return on equity of 9.55%. The firm had revenue of $10.25 billion during the quarter, compared to analysts' expectations of $9.90 billion. During the same period in the prior year, the company earned $0.96 EPS. The firm's revenue was up 37.8% on a year-over-year basis. As a group, equities research analysts anticipate that Advanced Micro Devices, Inc. will post 6.15 EPS for the current year.

Trending Headlines about Advanced Micro Devices

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

• Positive Sentiment: Wall Street sentiment remains upbeat, with multiple analysts raising AMD price targets in June, including a street-high call from UBS, as firms increasingly view AMD as a bigger player in AI infrastructure and data center CPUs.
• Positive Sentiment: AMD continues to gain credibility in enterprise AI, including recognition from Gartner as a leading server CPU company, which supports the long-term growth case for its data center business. Article Title
• Positive Sentiment: New business wins are also helping sentiment, including a definitive agreement with Rackspace Technology to deploy AMD-based infrastructure, reinforcing demand for AMD chips in cloud and enterprise workloads. Article Title
• Positive Sentiment: Several recent articles argue AMD still has meaningful upside as investors focus on its CPU and AI data center growth, with some bullish commentary suggesting the market may still be underappreciating its long-term earnings power.
• Neutral Sentiment: One recent piece highlighted both the positives and a caution on AMD, noting the stock’s huge six-month run and suggesting investors should stay aware of valuation risk after such a strong rally.
• Negative Sentiment: The semiconductor group has also been under pressure today, with AI chip names, including AMD, softening as momentum in the sector cools and investors rotate out of the space. Article Title
• Negative Sentiment: Bearish/neutral valuation commentary has also picked up, with some coverage questioning whether AMD’s rapid stock gains have already priced in a lot of future growth, which can weigh on the shares in the short term.

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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