Advanced Micro Devices, Inc. $AMD Stake Lifted by USS Investment Management Ltd

Key Points

• USS Investment Management Ltd increased its AMD stake by 0.9% in the first quarter, bringing its holdings to 263,731 shares worth about $53.6 million.
• AMD also continues to see strong institutional interest overall, with 71.34% of shares owned by institutional investors and several large hedge funds recently boosting their positions.
• The stock has been buoyed by positive fundamental and analyst news, including Wells Fargo raising its price target to $615 and AMD reporting quarterly earnings and revenue that both beat estimates.

USS Investment Management Ltd boosted its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 0.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 263,731 shares of the semiconductor manufacturer's stock after buying an additional 2,306 shares during the period. USS Investment Management Ltd's holdings in Advanced Micro Devices were worth $53,627,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Advanced Micro Devices in the 4th quarter worth about $4,929,312,000. Jennison Associates LLC raised its stake in Advanced Micro Devices by 181.6% during the 4th quarter. Jennison Associates LLC now owns 10,910,310 shares of the semiconductor manufacturer's stock valued at $2,336,552,000 after acquiring an additional 7,035,991 shares in the last quarter. Cardano Risk Management B.V. acquired a new position in Advanced Micro Devices during the 4th quarter worth $1,000,783,000. Wellington Management Group LLP grew its stake in shares of Advanced Micro Devices by 335.9% in the third quarter. Wellington Management Group LLP now owns 4,847,825 shares of the semiconductor manufacturer's stock worth $784,330,000 after purchasing an additional 3,735,807 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Advanced Micro Devices by 340.1% during the fourth quarter. Franklin Resources Inc. now owns 4,747,834 shares of the semiconductor manufacturer's stock valued at $1,016,796,000 after purchasing an additional 3,669,054 shares during the period. 71.34% of the stock is currently owned by institutional investors.

More Advanced Micro Devices News

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

• Positive Sentiment: Wells Fargo raised its AMD price target to $615 from $505, citing stronger server CPU demand and better long-term visibility. Article Title
• Positive Sentiment: More Wall Street firms are turning bullish on AMD as AI infrastructure spending broadens beyond Nvidia and into chip suppliers. Article Title
• Positive Sentiment: AMD’s strong AI and data center growth narrative continues to attract momentum buyers and options traders. Article Title
• Neutral Sentiment: AMD has seen unusually heavy insider selling over the past six months, which may temper some investor enthusiasm. Article Title

Advanced Micro Devices Trading Up 7.7%

Shares of NASDAQ:AMD opened at $580.91 on Wednesday. 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 12-month low of $133.50 and a 12-month high of $584.73. The firm has a fifty day moving average of $456.48 and a two-hundred day moving average of $301.41. The firm has a market capitalization of $947.23 billion, a P/E ratio of 190.46, a price-to-earnings-growth ratio of 1.59 and a beta of 2.50.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 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 for the quarter, compared to the consensus estimate of $9.90 billion. During the same quarter in the previous year, the company posted $0.96 earnings per share. The business's quarterly revenue was up 37.8% compared to the same quarter last year. On average, equities analysts expect that Advanced Micro Devices, Inc. will post 6.15 EPS for the current fiscal year.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, CEO Lisa T. Su sold 125,000 shares of the business's stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $460.69, for a total value of $57,586,250.00. Following the completion of the sale, the chief executive officer directly owned 2,896,899 shares of the company's stock, valued at $1,334,572,400.31. The trade was a 4.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Forrest Eugene Norrod sold 19,487 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $431.40, for a total transaction of $8,406,691.80. Following the transaction, the executive vice president owned 324,527 shares in the company, valued at approximately $140,000,947.80. This trade represents a 5.66% decrease in their position. 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 sold 378,032 shares of company stock valued at $161,876,596. Insiders own 0.50% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on AMD shares. Wedbush upped their price objective on shares of Advanced Micro Devices from $290.00 to $400.00 and gave the stock an "outperform" rating in a report on Monday, May 4th. Susquehanna raised their price objective on shares of Advanced Micro Devices from $375.00 to $450.00 and gave the company a "positive" rating in a research note on Wednesday, May 6th. Citigroup cut Advanced Micro Devices from a "buy" rating to a "market perform" rating in a report on Friday, June 12th. Bank of America lifted their price target on Advanced Micro Devices from $500.00 to $560.00 and gave the company a "buy" rating in a research report on Thursday, June 11th. Finally, Oppenheimer lowered Advanced Micro Devices from a "market perform" rating to a "market perform" rating in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $448.78.

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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