Advanced Micro Devices, Inc. $AMD is Cane Capital Partners LLC's 10th Largest Position

Key Points

• Cane Capital Partners cut its AMD stake by 32% in the first quarter, but the stock still remained its 10th-largest holding at about 2.7% of the portfolio, worth roughly $6.23 million.
• Institutional ownership in AMD remains heavy, with hedge funds and other institutions holding 71.34% of the company’s shares despite some recent buying and selling activity.
• Wall Street sentiment stays broadly positive on AMD, with multiple analysts raising price targets on AI and data center demand; the average price target is now $448.78, even as insiders have been selling shares.

Cane Capital Partners LLC reduced its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 32.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,633 shares of the semiconductor manufacturer's stock after selling 14,414 shares during the quarter. Advanced Micro Devices comprises about 2.7% of Cane Capital Partners LLC's portfolio, making the stock its 10th biggest position. Cane Capital Partners LLC's holdings in Advanced Micro Devices were worth $6,232,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Joseph Group Capital Management bought a new position in Advanced Micro Devices in the fourth quarter worth about $25,000. Sarver Vrooman Wealth Advisors acquired a new stake in shares of Advanced Micro Devices during the fourth quarter worth $27,000. Cornerstone Financial Management LLC acquired a new stake in Advanced Micro Devices during the 4th quarter worth about $27,000. Basepoint Wealth LLC acquired a new stake in shares of Advanced Micro Devices during the fourth quarter worth about $30,000. Finally, Delos Wealth Advisors LLC boosted its holdings in shares of Advanced Micro Devices by 100.0% in the 3rd quarter. Delos Wealth Advisors LLC now owns 200 shares of the semiconductor manufacturer's stock valued at $32,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company's stock.

Advanced Micro Devices News Summary

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

• Positive Sentiment: Wall Street remains bullish on AMD, with multiple analysts lifting price targets on strong AI-driven data center and server CPU demand, including Wells Fargo’s raise to $615 and other recent hikes. This Analyst Just Raised the Price Target on AMD Stock. Here's Why.
• Positive Sentiment: AMD’s AI and data center story is still expanding, including new Versal Premium Gen 2 chips aimed at compact AI, networking, defense and video systems. AMD Expands AI Reach With Versal Premium Gen 2 MoP SoCs: What's Ahead?
• Positive Sentiment: The company is still getting support from bullish commentary that highlights AMD as a key beneficiary of AI infrastructure spending and a rising competitor in the AI CPU market. Micron, Intel and AMD add $2 trillion in value in Q2 rally
• Neutral Sentiment: AMD also boosted executive pay to help retain leadership, a governance move that is not likely to be a major near-term driver for the stock. AMD Boosts Executive Pay to Support Leadership Retention
• Negative Sentiment: AMD is giving back some of its recent gains as investors lock in profits after an extraordinary AI-led surge and a new high, while broader chip stocks also retreat. Advanced Micro Devices (AMD) Dips More Than Broader Market: What You Should Know
• Negative Sentiment: Some market coverage is warning that the semiconductor rally may be getting overheated, with valuation concerns and “bubble risk” weighing on sentiment across the sector. Bank of America warns of tougher stock market in near future

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, Director Nora Denzel sold 8,626 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $522.00, for a total value of $4,502,772.00. Following the transaction, the director directly owned 87,173 shares in the company, valued at $45,504,306. This represents a 9.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Paul Darren Grasby sold 24,376 shares of the 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. This trade represents a 18.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 378,032 shares of company stock worth $161,876,596. 0.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on AMD. Truist Financial set a $478.00 price objective on Advanced Micro Devices in a research report on Wednesday, May 6th. Mizuho boosted their price objective on Advanced Micro Devices from $515.00 to $615.00 and gave the stock an "outperform" rating in a research note on Monday, June 1st. Rosenblatt Securities increased their target price on shares of Advanced Micro Devices from $300.00 to $490.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. HSBC downgraded Advanced Micro Devices from a "buy" rating to a "hold" rating and lifted their price objective for the stock from $335.00 to $340.00 in a research report on Monday, May 4th. Finally, The Goldman Sachs Group upgraded shares of Advanced Micro Devices from a "buy" rating to a "buy" rating in a report on Friday, June 12th. Two analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Advanced Micro Devices currently has an average rating of "Moderate Buy" and an average price target of $448.78.

Advanced Micro Devices Price Performance

Shares of AMD opened at $540.88 on Thursday. The company has a market cap of $881.96 billion, a P/E ratio of 177.34, a PEG ratio of 1.71 and a beta of 2.47. The company has a quick ratio of 1.96, a current ratio of 2.72 and a debt-to-equity ratio of 0.04. Advanced Micro Devices, Inc. has a fifty-two week low of $133.50 and a fifty-two week high of $584.73. The firm's 50 day moving average price is $461.80 and its 200 day moving average price is $303.66.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.29 by $0.08. Advanced Micro Devices had a return on equity of 9.55% and a net margin of 13.37%.The firm had revenue of $10.25 billion during the quarter, compared to analyst estimates of $9.90 billion. During the same period last year, the business posted $0.96 earnings per share. Advanced Micro Devices's revenue was up 37.8% compared to the same quarter last year. On average, research analysts forecast that Advanced Micro Devices, Inc. will post 6.15 earnings per share for the current fiscal year.

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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