Advanced Micro Devices, Inc. $AMD Shares Acquired by Bessemer Group Inc.

Key Points

• Bessemer Group Inc. increased its stake in AMD by 46.2% in the fourth quarter, ending with 41,469 shares valued at about $8.9 million.
• AMD reported strong quarterly results, beating expectations with $1.37 EPS on $10.25 billion in revenue, while revenue jumped 37.8% year over year.
• Wall Street remains constructive on the stock, with multiple analysts raising price targets; the consensus rating is Moderate Buy and the average target price is $396.95.

Bessemer Group Inc. boosted its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 46.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,469 shares of the semiconductor manufacturer's stock after buying an additional 13,109 shares during the quarter. Bessemer Group Inc.'s holdings in Advanced Micro Devices were worth $8,881,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other Advanced Micro Devices news, CEO Lisa T. Su sold 125,000 shares of the company's stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $445.51, for a total value of $55,688,750.00. Following the completion of the transaction, the chief executive officer owned 3,021,899 shares in the company, valued at approximately $1,346,286,223.49. This represents a 3.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark D. Papermaster sold 31,320 shares of the company's stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $350.00, for a total transaction of $10,962,000.00. Following the completion of the transaction, the executive vice president owned 1,236,037 shares of the company's stock, valued at approximately $432,612,950. This trade represents a 2.47% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 309,598 shares of company stock worth $105,644,316. Insiders own 0.50% of the company's stock.

Advanced Micro Devices Price Performance

NASDAQ AMD opened at $424.10 on Monday. Advanced Micro Devices, Inc. has a 52 week low of $107.67 and a 52 week high of $469.21. 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 stock has a market cap of $691.54 billion, a price-to-earnings ratio of 139.05, a price-to-earnings-growth ratio of 1.26 and a beta of 2.40. The company has a 50-day moving average price of $273.49 and a two-hundred day moving average price of $240.39.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its 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 firm had revenue of $10.25 billion during the quarter, compared to analysts' expectations of $9.90 billion. During the same quarter in the prior year, the firm earned $0.96 EPS. Advanced Micro Devices's quarterly revenue was up 37.8% on a year-over-year basis. Analysts forecast that Advanced Micro Devices, Inc. will post 6.2 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Cantor Fitzgerald boosted their price objective on shares of Advanced Micro Devices to $500.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. Bank of America boosted their price objective on shares of Advanced Micro Devices from $450.00 to $500.00 and gave the stock a "buy" rating in a report on Wednesday, May 13th. JPMorgan Chase & Co. boosted their price objective on shares of Advanced Micro Devices from $270.00 to $385.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. KeyCorp boosted their price objective on shares of Advanced Micro Devices from $330.00 to $530.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. Finally, Roth Mkm reissued a "buy" rating and issued a $500.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $396.95.

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.

About Advanced Micro Devices

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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