Bleakley Financial Group LLC Acquires 5,454 Shares of Advanced Micro Devices, Inc. $AMD

Key Points

• Bleakley Financial Group increased its AMD stake by 17.7% in the fourth quarter, buying 5,454 additional shares and bringing its total holding to 36,293 shares worth about $7.77 million.
• AMD’s latest quarterly results beat expectations, with EPS of $1.37 and revenue of $10.25 billion, both above analyst estimates and up sharply from a year ago.
• Analyst sentiment remains constructive: several firms raised price targets, and AMD now has a Moderate Buy consensus with an average target price of $410.

Bleakley Financial Group LLC lifted its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 17.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,293 shares of the semiconductor manufacturer's stock after acquiring an additional 5,454 shares during the period. Bleakley Financial Group LLC's holdings in Advanced Micro Devices were worth $7,773,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Impax Asset Management Group plc boosted its stake in Advanced Micro Devices by 326.5% during the third quarter. Impax Asset Management Group plc now owns 52,068 shares of the semiconductor manufacturer's stock valued at $8,424,000 after buying an additional 39,861 shares during the last quarter. Jefferies Financial Group Inc. boosted its stake in Advanced Micro Devices by 6,228.8% during the fourth quarter. Jefferies Financial Group Inc. now owns 308,021 shares of the semiconductor manufacturer's stock valued at $65,966,000 after buying an additional 303,154 shares during the last quarter. Zweig DiMenna Associates LLC boosted its stake in Advanced Micro Devices by 127.6% during the third quarter. Zweig DiMenna Associates LLC now owns 72,602 shares of the semiconductor manufacturer's stock valued at $11,746,000 after buying an additional 40,708 shares during the last quarter. Wedbush Securities Inc. boosted its stake in Advanced Micro Devices by 7.8% during the third quarter. Wedbush Securities Inc. now owns 84,256 shares of the semiconductor manufacturer's stock valued at $13,632,000 after buying an additional 6,095 shares during the last quarter. Finally, WealthPlan Investment Management LLC boosted its stake in Advanced Micro Devices by 338.5% during the fourth quarter. WealthPlan Investment Management LLC now owns 6,157 shares of the semiconductor manufacturer's stock valued at $1,319,000 after buying an additional 4,753 shares during the last quarter. Institutional investors own 71.34% of the company's stock.

Insiders Place Their Bets

In related news, CEO Lisa T. Su sold 125,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $445.51, for a total transaction of $55,688,750.00. Following the completion of the sale, the chief executive officer directly owned 3,021,899 shares of the company's stock, valued at approximately $1,346,286,223.49. This trade represents a 3.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Forrest Eugene Norrod sold 19,487 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $431.40, for a total value 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 ownership of the stock. 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 a total of 329,085 shares of company stock valued at $114,051,007 over the last quarter. 0.50% of the stock is currently owned by insiders.

Advanced Micro Devices Price Performance

AMD stock opened at $503.89 on Wednesday. Advanced Micro Devices, Inc. has a 12 month low of $108.62 and a 12 month high of $506.96. 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 company has a 50-day moving average price of $309.03 and a 200 day moving average price of $250.05. The stock has a market cap of $821.64 billion, a PE ratio of 165.21, a P/E/G ratio of 1.37 and a beta of 2.40.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released 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. Advanced Micro Devices had a net margin of 13.37% and a return on equity of 9.55%. The firm had revenue of $10.25 billion during the quarter, compared to analysts' expectations of $9.90 billion. During the same period in the previous year, the company earned $0.96 EPS. The firm's revenue for the quarter was up 37.8% compared to the same quarter last year. Equities research analysts anticipate that Advanced Micro Devices, Inc. will post 6.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Mizuho increased their price target on Advanced Micro Devices from $415.00 to $515.00 and gave the company an "outperform" rating in a research note on Tuesday, May 12th. JPMorgan Chase & Co. increased their price target on Advanced Micro Devices from $270.00 to $385.00 and gave the company a "neutral" rating in a research note on Wednesday, May 6th. Zacks Research raised Advanced Micro Devices from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 5th. Benchmark increased their price target on Advanced Micro Devices from $325.00 to $485.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Finally, Piper Sandler reissued an "overweight" rating on shares of Advanced Micro Devices in a research note on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and twelve have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $410.00.

Advanced Micro Devices News Summary

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

• Positive Sentiment: AMD is being viewed as a major AI beneficiary, with articles highlighting rising demand for its Instinct GPUs, EPYC CPUs, and rack-scale AI infrastructure products. OneQode to Deploy AMD Instinct GPUs and Plans for AMD Helios Rack-Scale Solution for Global AI Infrastructure
• Positive Sentiment: Wall Street appears to be raising its long-term expectations for AMD, with fresh commentary about a possible path to a $1 trillion market cap and higher price targets from analysts. What Will It Take for AMD’s Market Cap to Hit $1 Trillion?
• Positive Sentiment: Sector-wide strength is also helping AMD, as investors rotate into AI chip stocks beyond Nvidia and bid up semiconductor names broadly. Why Qualcomm, AMD, Intel, other AI stocks are surging sharply on Tuesday
• Neutral Sentiment: Some commentary is more cautionary, noting that momentum in AMD and other chip stocks could eventually face valuation pressure after a strong run. Intel, AMD, and Other Momentum Stocks Look Unstoppable. Look Again.
• Negative Sentiment: There is also competitive concern in the background, with one article arguing Nvidia could pressure AMD in CPUs and related AI markets, which could temper upside if competition intensifies. Nvidia Vs. AMD: Nvidia Will Eat AMD's CPU Lunch

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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