Advanced Micro Devices, Inc. $AMD Stock Position Raised by Resonant Capital Advisors LLC

Key Points

• Resonant Capital Advisors LLC increased its AMD stake by 15.7% in the first quarter, and several other institutional investors also added to their positions. Overall, about 71.34% of AMD’s stock is held by institutional investors and hedge funds.
• AMD shares were down 7.3% in mid-day trading, despite the company’s strong recent fundamentals. The stock traded at $511.99, with a large market cap of $834.85 billion and a notably high P/E ratio of 168.29.
• AMD’s latest quarterly results beat expectations, posting $1.37 EPS on $10.25 billion in revenue, both above analyst estimates. Analysts remain broadly positive overall, with a consensus rating of “Moderate Buy” and an average price target of $453.92.

Resonant Capital Advisors LLC boosted its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 15.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,549 shares of the semiconductor manufacturer's stock after purchasing an additional 1,163 shares during the period. Resonant Capital Advisors LLC's holdings in Advanced Micro Devices were worth $1,739,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. United Asset Strategies Inc. lifted its holdings in shares of Advanced Micro Devices by 0.3% in the first quarter. United Asset Strategies Inc. now owns 13,284 shares of the semiconductor manufacturer's stock valued at $2,702,000 after purchasing an additional 43 shares in the last quarter. Clare Market Investments LLC purchased a new position in shares of Advanced Micro Devices during the first quarter valued at $2,325,000. Sather Financial Group Inc purchased a new position in shares of Advanced Micro Devices during the first quarter valued at $814,000. Signet Private Wealth LLC acquired a new position in Advanced Micro Devices during the first quarter valued at $211,000. Finally, Swedbank AB raised its position in Advanced Micro Devices by 37.5% during the first quarter. Swedbank AB now owns 3,346,527 shares of the semiconductor manufacturer's stock valued at $680,784,000 after buying an additional 913,055 shares during the period. 71.34% of the stock is owned by institutional investors and hedge funds.

Advanced Micro Devices Stock Down 7.3%

AMD stock traded down $40.06 during mid-day trading on Tuesday, hitting $511.99. The stock had a trading volume of 12,791,753 shares, compared to its average volume of 37,312,289. The company has a current ratio of 2.72, a quick ratio of 1.96 and a debt-to-equity ratio of 0.04. Advanced Micro Devices, Inc. has a 1-year low of $135.91 and a 1-year high of $584.73. The company has a fifty day moving average of $470.75 and a 200 day moving average of $308.01. The stock has a market capitalization of $834.85 billion, a price-to-earnings ratio of 168.29, a PEG ratio of 1.53 and a beta of 2.47.

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

Analyst Upgrades and Downgrades

AMD has been the subject of a number of research reports. Stifel Nicolaus raised their price objective on Advanced Micro Devices from $320.00 to $450.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Raymond James Financial started coverage on Advanced Micro Devices in a report on Wednesday, May 6th. They issued a "market perform" rating on the stock. Loop Capital raised shares of Advanced Micro Devices to a "strong-buy" rating in a research report on Tuesday, June 16th. Bank of America raised their price target on shares of Advanced Micro Devices from $500.00 to $560.00 and gave the stock a "buy" rating in a report on Thursday, June 11th. Finally, Jefferies Financial Group downgraded shares of Advanced Micro Devices from a "buy" rating to a "hold" rating in a research report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Advanced Micro Devices currently has a consensus rating of "Moderate Buy" and an average price target of $453.92.

Insider Activity

In related news, EVP Paul Darren Grasby sold 24,376 shares of the firm's stock in a transaction that occurred 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 transaction, the executive vice president owned 105,222 shares of the company's stock, valued at approximately $46,759,604.58. This trade represents a 18.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark D. Papermaster sold 31,320 shares of Advanced Micro Devices stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $350.00, for a total transaction of $10,962,000.00. Following the completion of the sale, the executive vice president owned 1,236,037 shares of the company's stock, valued at $432,612,950. This trade represents a 2.47% 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. In the last 90 days, insiders have sold 374,739 shares of company stock valued at $161,135,671. 0.50% of the stock is currently owned by company insiders.

Advanced Micro Devices News Summary

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

• Positive Sentiment: Wall Street analysts remain constructive on AMD, with Goldman Sachs and Wells Fargo recently raising price targets on expectations for strong server CPU demand, pricing power, and continued AI-related growth. AMD, Nvidia, Micron, Oracle, Dell, Intel, and More Stocks That Explain Today’s Market
• Positive Sentiment: AMD also gained a new AI-use-case catalyst after Turing said it is adopting AMD GPUs for part of its self-driving AI training, which expands AMD beyond data centers and gaming into autonomous vehicles. AMD Gains AI Customer as $600 Million Self-Driving Startup Adopts Its GPUs
• Neutral Sentiment: Recent articles also highlighted AMD’s rapid share-price gains and its approach toward a possible $1 trillion valuation, but these pieces were mostly commentary on momentum rather than new fundamental news. AMD Is 11% Away From Joining the $1 Trillion Club. Could It Get There This Year?
• Negative Sentiment: The main drag today is a broader chip-stock selloff, with AMD falling alongside peers like Nvidia and Intel as investors worry the AI rally is stalling and trading sentiment in semiconductors turns risk-off. Intel and Applied Materials Dive 10%, AMD Craters 8% as Samsung Earnings Trigger Chip Selloff
• Negative Sentiment: Cathie Wood’s ARK Invest sold about $8 million of AMD shares, adding to some near-term caution even as analyst sentiment remains upbeat. AMD Stock: Cathie Wood Sells $8M in AMD Despite Growing Analyst Optimism

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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