Apella Capital LLC lifted its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 41.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,645 shares of the semiconductor manufacturer's stock after purchasing an additional 2,544 shares during the period. Apella Capital LLC's holdings in Advanced Micro Devices were worth $1,759,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the business. Focused Wealth Management Inc raised its holdings in shares of Advanced Micro Devices by 2.7% during the first quarter. Focused Wealth Management Inc now owns 1,431 shares of the semiconductor manufacturer's stock valued at $291,000 after purchasing an additional 37 shares during the period. James J. Burns & Company LLC grew its stake in shares of Advanced Micro Devices by 2.3% in the 4th quarter. James J. Burns & Company LLC now owns 1,816 shares of the semiconductor manufacturer's stock valued at $389,000 after buying an additional 40 shares during the period. Cassaday & Co Wealth Management LLC increased its position in Advanced Micro Devices by 0.9% in the 4th quarter. Cassaday & Co Wealth Management LLC now owns 4,912 shares of the semiconductor manufacturer's stock valued at $1,052,000 after buying an additional 43 shares in the last quarter. Willis Johnson & Associates Inc. increased its position in Advanced Micro Devices by 1.9% in the 4th quarter. Willis Johnson & Associates Inc. now owns 2,304 shares of the semiconductor manufacturer's stock valued at $493,000 after buying an additional 44 shares in the last quarter. Finally, Smith Moore & CO. raised its stake in Advanced Micro Devices by 1.1% during the 3rd quarter. Smith Moore & CO. now owns 3,962 shares of the semiconductor manufacturer's stock worth $641,000 after buying an additional 45 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: Wall Street sentiment remains upbeat, with multiple analysts raising AMD price targets in June, including a street-high call from UBS, as firms increasingly view AMD as a bigger player in AI infrastructure and data center CPUs.
- Positive Sentiment: AMD continues to gain credibility in enterprise AI, including recognition from Gartner as a leading server CPU company, which supports the long-term growth case for its data center business. Article Title
- Positive Sentiment: New business wins are also helping sentiment, including a definitive agreement with Rackspace Technology to deploy AMD-based infrastructure, reinforcing demand for AMD chips in cloud and enterprise workloads. Article Title
- Positive Sentiment: Several recent articles argue AMD still has meaningful upside as investors focus on its CPU and AI data center growth, with some bullish commentary suggesting the market may still be underappreciating its long-term earnings power.
- Neutral Sentiment: One recent piece highlighted both the positives and a caution on AMD, noting the stock’s huge six-month run and suggesting investors should stay aware of valuation risk after such a strong rally.
- Negative Sentiment: The semiconductor group has also been under pressure today, with AI chip names, including AMD, softening as momentum in the sector cools and investors rotate out of the space. Article Title
- Negative Sentiment: Bearish/neutral valuation commentary has also picked up, with some coverage questioning whether AMD’s rapid stock gains have already priced in a lot of future growth, which can weigh on the shares in the short term.
Insiders Place Their Bets
In related news, Director Nora Denzel sold 8,626 shares of the business's stock in a transaction on 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 sale, the director directly owned 87,173 shares in the company, valued at approximately $45,504,306. The trade was a 9.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Lisa T. Su sold 125,000 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $460.69, for a total value of $57,586,250.00. Following the sale, the chief executive officer directly owned 2,896,899 shares in the company, valued at $1,334,572,400.31. This trade represents a 4.14% 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. Insiders sold 378,032 shares of company stock worth $161,876,596 in the last three months. Insiders own 0.50% of the company's stock.
Analysts Set New Price Targets
Several research analysts have issued reports on AMD shares. Sanford C. Bernstein set a $600.00 price target on Advanced Micro Devices and gave the stock an "outperform" rating in a report on Wednesday, June 17th. Susquehanna upped their target price on Advanced Micro Devices from $375.00 to $450.00 and gave the stock a "positive" rating in a research report on Wednesday, May 6th. Bank of America increased their target price on Advanced Micro Devices from $500.00 to $560.00 and gave the stock a "buy" rating in a report on Thursday, June 11th. Wells Fargo & Company lifted their price target on shares of Advanced Micro Devices from $345.00 to $505.00 and gave the company an "overweight" rating in a research report on Wednesday, May 6th. Finally, Zacks Research lowered shares of Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 3rd. Two analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $440.41.
Check Out Our Latest Report on Advanced Micro Devices
Advanced Micro Devices Price Performance
Shares of NASDAQ AMD opened at $521.58 on Friday. 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 fifty day simple moving average of $445.21 and a two-hundred day simple moving average of $296.11. Advanced Micro Devices, Inc. has a 1-year low of $133.50 and a 1-year high of $562.99. The firm has a market cap of $850.49 billion, a price-to-earnings ratio of 171.01, a price-to-earnings-growth ratio of 1.57 and a beta of 2.50.
Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly 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 analysts' expectations of $9.90 billion. During the same quarter in the prior year, the firm earned $0.96 EPS. The business's revenue for the quarter was up 37.8% compared to the same quarter last year. Analysts anticipate that Advanced Micro Devices, Inc. will post 6.15 earnings per share for the current year.
About Advanced Micro Devices
(
Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Advanced Micro Devices, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Advanced Micro Devices wasn't on the list.
While Advanced Micro Devices currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The space race is growing fast, and you don’t have to have gotten in early on SpaceX to profit. This report shows seven space stocks you can buy today that may grow as rockets, satellites, defense, space internet, and new space technology become more important.
Get This Free Report
