Advanced Micro Devices, Inc. $AMD Shares Sold by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp reduced its AMD stake by 6.7%, selling 38,660 shares and retaining 541,215 shares valued at approximately $314.4 million. Institutional investors collectively own 71.34% of AMD.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $546.87; several firms recently raised their targets to between $550 and $600.
• AMD reported quarterly EPS of $1.66 and revenue of $11.54 billion, beating estimates, while revenue grew 50.1% year over year. Shares opened at $506, down 1.6%, and insiders sold $74.7 million of stock over the past 90 days.

Fifth Third Bancorp lowered its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 6.7% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 541,215 shares of the semiconductor manufacturer's stock after selling 38,660 shares during the period. Fifth Third Bancorp's holdings in Advanced Micro Devices were worth $314,397,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMD. Vanguard Group Inc. boosted its holdings in 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 acquiring an additional 2,525,109 shares during the period. State Street Corp increased its stake in Advanced Micro Devices by 1.5% during the fourth quarter. State Street Corp now owns 74,919,276 shares of the semiconductor manufacturer's stock worth $16,044,712,000 after purchasing an additional 1,094,835 shares during the period. Geode Capital Management LLC increased its stake in Advanced Micro Devices by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 37,584,845 shares of the semiconductor manufacturer's stock worth $8,015,897,000 after purchasing an additional 287,525 shares during the period. Norges Bank acquired a new stake in shares of Advanced Micro Devices during the fourth quarter worth about $4,929,312,000. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Advanced Micro Devices by 0.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,325,288 shares of the semiconductor manufacturer's stock worth $4,352,864,000 after purchasing an additional 55,969 shares in the last quarter. Hedge funds and other institutional investors own 71.34% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Wedbush restated an "outperform" rating and issued a $600.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, August 5th. DA Davidson increased their target price on shares of Advanced Micro Devices from $425.00 to $550.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. UBS Group reissued an "overweight" rating on shares of Advanced Micro Devices in a research report on Friday, July 24th. Truist Financial boosted their price target on shares of Advanced Micro Devices from $478.00 to $594.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Finally, Morgan Stanley upped their price objective on Advanced Micro Devices from $410.00 to $465.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 5th. Three research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $546.87.

Insider Buying and Selling

In other Advanced Micro Devices news, Director Nora Denzel sold 8,626 shares of Advanced Micro Devices stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $522.00, for a total transaction of $4,502,772.00. Following the completion of the sale, the director directly owned 87,173 shares of the company's stock, valued at $45,504,306. The trade was a 9.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Ava Hahn sold 143 shares of the company's stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $474.75, for a total value of $67,889.25. Following the transaction, the senior vice president directly owned 17,644 shares of the company's stock, valued at approximately $8,376,489. This represents a 0.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 161,077 shares of company stock valued at $74,732,145 over the last 90 days. 0.50% of the stock is currently owned by corporate insiders.

Advanced Micro Devices Trading Down 1.6%

Shares of NASDAQ:AMD opened at $506.00 on Tuesday. Advanced Micro Devices, Inc. has a 52 week low of $149.22 and a 52 week high of $584.73. The company's 50 day moving average is $512.08 and its two-hundred day moving average is $370.08. The company has a market cap of $826.03 billion, a PE ratio of 130.08 and a beta of 2.48. The company has a current ratio of 2.61, a quick ratio of 1.91 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The semiconductor manufacturer reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.04. The business had revenue of $11.54 billion during the quarter, compared to analysts' expectations of $11.31 billion. Advanced Micro Devices had a net margin of 15.58% and a return on equity of 12.30%. The company's revenue for the quarter was up 50.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.48 EPS. Equities analysts predict that Advanced Micro Devices, Inc. will post 6.44 earnings per share for the current fiscal year.

Key Advanced Micro Devices News

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

• Positive Sentiment: AMD priced a record $4.75 billion senior-notes offering in four tranches maturing from 2029 through 2036. Management plans to use the capital for general corporate purposes, including expanding its AI and data-center businesses. The offering gives AMD additional financial flexibility without issuing shares, although it will increase interest expense. AMD Rises on $4.75 Billion Debt Offering
• Positive Sentiment: Analysts continue to see upside based on accelerating demand for AMD’s AI data-center processors, record data-center revenue, and potential growth in server CPUs. Reported analyst price targets reach as high as $700, supporting the bullish case despite the stock’s large year-to-date advance. AMD Stock Is Up 136% YTD. Why Wall Street Still Sees More Upside
• Positive Sentiment: A quarterly SEC filing disclosed sizable equity stakes in SpaceX and Nutanix. The investments broaden AMD’s strategic exposure to space technology and enterprise infrastructure, though the filing did not establish a direct near-term revenue impact. AMD Filing Reveals Unexpected SpaceX and Nutanix Bet

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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