BI Asset Management Fondsmaeglerselskab A S Sells 114,388 Shares of Advanced Micro Devices, Inc. $AMD

Key Points

• BI Asset Management Fondsmaeglerselskab A S cut its AMD stake by 57.1% in the first quarter, selling 114,388 shares and ending with 85,853 shares worth about $17.5 million.
• AMD’s fundamentals remain strong: the company recently beat quarterly estimates with EPS of $1.37 on revenue of $10.25 billion, and revenue rose 37.8% year over year.
• Wall Street remains broadly bullish despite valuation concerns, with several firms lifting price targets and a consensus rating of “Moderate Buy” and target price around $430.68.

BI Asset Management Fondsmaeglerselskab A S decreased its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 57.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 85,853 shares of the semiconductor manufacturer's stock after selling 114,388 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Advanced Micro Devices were worth $17,465,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of AMD. Vanguard Group Inc. lifted its position in Advanced Micro Devices by 1.6% in the fourth 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 during the last quarter. State Street Corp boosted 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 buying an additional 1,094,835 shares during the period. Geode Capital Management LLC boosted 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 buying an additional 287,525 shares during the period. Norges Bank bought a new position in Advanced Micro Devices during the fourth quarter valued at $4,929,312,000. Finally, Price T Rowe Associates Inc. MD increased its position in 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 valued at $4,352,864,000 after acquiring an additional 55,969 shares during the last quarter. Institutional investors own 71.34% of the company's stock.

Advanced Micro Devices Stock Up 0.4%

Shares of AMD opened at $539.33 on Friday. The firm has a market capitalization of $879.43 billion, a P/E ratio of 176.83, a P/E/G ratio of 1.57 and a beta of 2.50. Advanced Micro Devices, Inc. has a 12-month low of $126.82 and a 12-month high of $558.37. 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 firm has a fifty day moving average price of $417.16 and a 200-day moving average price of $285.22.

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

Key Stories Impacting Advanced Micro Devices

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

• Positive Sentiment: Bernstein raised its price target on AMD to $600, citing strong AI infrastructure demand and improving server-market conditions, reinforcing the bullish case for the stock. Why Is AMD Stock Gaining Thursday?
• Positive Sentiment: AMD and Rackspace signed a definitive agreement to deploy 30 MW of AMD-based AI compute across Rackspace’s data centers, a win that could expand AMD’s presence in regulated enterprise cloud workloads. Rackspace’s AI Land Grab: Plugging Into the Next Compute Boom (AMD)
• Positive Sentiment: AMD’s acquisition of MEXT is being viewed as strategically important because it could help address AI data-center memory bottlenecks and strengthen the company’s AI stack. AMD (AMD) Buys MEXT To Tackle AI Data Center Memory Bottlenecks
• Neutral Sentiment: Several analyst and investor articles continue to highlight AMD’s strong year-to-date rally, but also warn that the stock is trading near all-time highs and may be fully valued, which could temper upside near term. Buy, Hold, or Sell: AMD Rested Near All-Time Highs as Kevin Warsh Opened His First Fed Meeting. Is AMD Stock a Buy at $507?
• Neutral Sentiment: Market commentary from today also points to AMD as a preferred semiconductor alternative versus Intel, but the note is more about sector positioning than a direct company-specific catalyst. Analyst Warns Intel Valuation ‘Doesn't Make Sense.' Suggests NVIDIA, AMD, Micron, and Broadcom as Alternatives.
• Negative Sentiment: Some recent coverage warns AMD has likely risen too far, too fast, which could invite profit-taking if investors become more cautious about valuation. One Warning Signal AMD Investors Can't Miss

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AMD. The Goldman Sachs Group upgraded shares of Advanced Micro Devices from a "buy" rating to a "buy" rating in a report on Friday, June 12th. Melius Research set a $540.00 price target on shares of Advanced Micro Devices in a report on Monday, May 18th. DA Davidson increased their price objective on shares of Advanced Micro Devices from $375.00 to $425.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Stifel Nicolaus raised their price objective on shares of Advanced Micro Devices from $320.00 to $450.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Finally, Sanford C. Bernstein set a $600.00 target price on Advanced Micro Devices and gave the company an "outperform" rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Advanced Micro Devices presently has a consensus rating of "Moderate Buy" and a consensus target price of $430.68.

Insider Buying and Selling

In other news, CEO Lisa T. Su sold 125,000 shares of the firm'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 transaction of $57,586,250.00. Following the transaction, the chief executive officer directly owned 2,896,899 shares of the company's stock, valued at approximately $1,334,572,400.31. This trade represents a 4.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Forrest Eugene Norrod sold 19,487 shares of Advanced Micro Devices stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $431.40, for a total transaction of $8,406,691.80. Following the sale, the executive vice president directly owned 324,527 shares of the company's stock, valued at $140,000,947.80. This represents a 5.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 over the last 90 days. Corporate insiders own 0.50% of the company's stock.

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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