Advanced Micro Devices, Inc. $AMD is Balboa Wealth Partners' 6th Largest Position

Key Points

• Balboa Wealth Partners increased its AMD stake by 1.6% in the first quarter, ending with 82,711 shares valued at about $16.8 million. AMD is now its 6th-largest position, representing roughly 2.8% of the portfolio.
• AMD’s recent quarterly results beat expectations, with EPS of $1.37 versus the $1.29 estimate and revenue of $10.25 billion versus $9.90 billion expected. Revenue rose 37.8% year over year, and analysts expect full-year EPS of 6.15.
• Sentiment around AMD remains broadly positive: several analysts have raised price targets, including Bernstein to $600, while the company also announced an AI infrastructure deal with Rackspace and is seen as strengthening its AI data-center strategy through the MEXT acquisition.

Balboa Wealth Partners grew its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 1.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 82,711 shares of the semiconductor manufacturer's stock after acquiring an additional 1,327 shares during the quarter. Advanced Micro Devices comprises approximately 2.8% of Balboa Wealth Partners' portfolio, making the stock its 6th biggest position. Balboa Wealth Partners' holdings in Advanced Micro Devices were worth $16,826,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Advanced Micro Devices in the 4th quarter worth approximately $4,929,312,000. Jennison Associates LLC lifted its holdings in shares of Advanced Micro Devices by 181.6% in the fourth quarter. Jennison Associates LLC now owns 10,910,310 shares of the semiconductor manufacturer's stock worth $2,336,552,000 after buying an additional 7,035,991 shares in the last quarter. Cardano Risk Management B.V. purchased a new stake in shares of Advanced Micro Devices in the fourth quarter worth about $1,000,783,000. Wellington Management Group LLP raised its holdings in shares of Advanced Micro Devices by 335.9% during the 3rd 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 stake in shares of Advanced Micro Devices by 340.1% in the 4th quarter. Franklin Resources Inc. now owns 4,747,834 shares of the semiconductor manufacturer's stock worth $1,016,796,000 after buying an additional 3,669,054 shares in the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Advanced Micro Devices

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 owned 324,527 shares in the company, valued at approximately $140,000,947.80. This represents a 5.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 on 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 completion of the transaction, the executive vice president directly owned 105,222 shares in the company, valued at $46,759,604.58. The trade was a 18.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 378,032 shares of company stock worth $161,876,596. 0.50% of the stock is owned by insiders.

Advanced Micro Devices Stock Performance

NASDAQ AMD opened at $539.33 on Monday. The company has a market cap of $879.43 billion, a P/E ratio of 176.83, a P/E/G ratio of 1.58 and a beta of 2.50. Advanced Micro Devices, Inc. has a 1-year low of $126.82 and a 1-year high of $558.37. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.72 and a quick ratio of 1.96. The stock has a 50-day moving average of $417.16 and a two-hundred day moving average of $285.68.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted 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. Advanced Micro Devices had a net margin of 13.37% and a return on equity of 9.55%. The business had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $9.90 billion. During the same quarter in the previous year, the firm posted $0.96 earnings per share. The company's quarterly revenue was up 37.8% compared to the same quarter last year. As a group, analysts anticipate that Advanced Micro Devices, Inc. will post 6.15 EPS for the current year.

Key Advanced Micro Devices News

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

• Positive Sentiment: Bernstein raised its price target on AMD to $600, citing strong AI infrastructure demand and improving server-market conditions, reinforcing the bullish case for the stock. Why Is AMD Stock Gaining Thursday?
• Positive Sentiment: AMD and Rackspace signed a definitive agreement to deploy 30 MW of AMD-based AI compute across Rackspace’s data centers, a win that could expand AMD’s presence in regulated enterprise cloud workloads. Rackspace’s AI Land Grab: Plugging Into the Next Compute Boom (AMD)
• Positive Sentiment: AMD’s acquisition of MEXT is being viewed as strategically important because it could help address AI data-center memory bottlenecks and strengthen the company’s AI stack. AMD (AMD) Buys MEXT To Tackle AI Data Center Memory Bottlenecks
• Neutral Sentiment: Several analyst and investor articles continue to highlight AMD’s strong year-to-date rally, but also warn that the stock is trading near all-time highs and may be fully valued, which could temper upside near term. Buy, Hold, or Sell: AMD Rested Near All-Time Highs as Kevin Warsh Opened His First Fed Meeting. Is AMD Stock a Buy at $507?
• Neutral Sentiment: Market commentary from today also points to AMD as a preferred semiconductor alternative versus Intel, but the note is more about sector positioning than a direct company-specific catalyst. Analyst Warns Intel Valuation ‘Doesn't Make Sense.' Suggests NVIDIA, AMD, Micron, and Broadcom as Alternatives.
• Negative Sentiment: Some recent coverage warns AMD has likely risen too far, too fast, which could invite profit-taking if investors become more cautious about valuation. One Warning Signal AMD Investors Can't Miss

Analysts Set New Price Targets

Several brokerages have recently weighed in on AMD. Piper Sandler reissued an "overweight" rating on shares of Advanced Micro Devices in a research note on Wednesday, February 25th. Evercore reissued an "outperform" rating and set a $579.00 price target on shares of Advanced Micro Devices in a research report on Tuesday, May 19th. Melius Research set a $540.00 price objective on shares of Advanced Micro Devices in a research note on Monday, May 18th. Cantor Fitzgerald boosted their target price on shares of Advanced Micro Devices to $500.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. Finally, HSBC cut Advanced Micro Devices from a "buy" rating to a "hold" rating and raised their price objective for the stock from $335.00 to $340.00 in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, thirty have given 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 company has a consensus rating of "Moderate Buy" and a consensus price target of $430.68.

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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