Capital Wealth Planning LLC Acquires 29,678 Shares of Advanced Micro Devices, Inc. $AMD

Key Points

• Capital Wealth Planning LLC boosted its AMD stake by 58.8% in the fourth quarter, buying 29,678 additional shares and bringing its total holding to 80,108 shares worth about $17.2 million.
• Institutional demand for AMD remains strong overall, with hedge funds and other investors owning 71.34% of the stock; several firms made large additions, including Norges Bank and Jennison Associates.
• AMD recently reported better-than-expected earnings and revenue, but the stock was still down 4.9% amid a broader semiconductor selloff and concerns that its sharp rally may have pushed valuations too high.

Capital Wealth Planning LLC raised its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 58.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 80,108 shares of the semiconductor manufacturer's stock after acquiring an additional 29,678 shares during the quarter. Capital Wealth Planning LLC's holdings in Advanced Micro Devices were worth $17,156,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in AMD. Norges Bank purchased a new stake in shares of Advanced Micro Devices in the 4th quarter worth $4,929,312,000. Jennison Associates LLC lifted its holdings in shares of Advanced Micro Devices by 181.6% in the 4th quarter. Jennison Associates LLC now owns 10,910,310 shares of the semiconductor manufacturer's stock worth $2,336,552,000 after buying an additional 7,035,991 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Advanced Micro Devices by 335.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,847,825 shares of the semiconductor manufacturer's stock worth $784,330,000 after buying an additional 3,735,807 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Advanced Micro Devices by 340.1% in the 4th quarter. Franklin Resources Inc. now owns 4,747,834 shares of the semiconductor manufacturer's stock worth $1,016,796,000 after buying an additional 3,669,054 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Advanced Micro Devices by 104.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 5,991,297 shares of the semiconductor manufacturer's stock worth $1,283,096,000 after buying an additional 3,059,935 shares during the period. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Advanced Micro Devices

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

• Positive Sentiment: AMD continues to benefit from strong AI infrastructure demand, with recent coverage highlighting record data center revenue and growing adoption of EPYC and Instinct products.
• Positive Sentiment: Wall Street remains broadly constructive on AMD, with multiple buy/overweight ratings and several price targets above current levels.
• Neutral Sentiment: TSMC’s strong monthly sales reinforced that demand for AI chips remains robust across the semiconductor supply chain.
• Negative Sentiment: AMD was hit by a sector-wide semiconductor selloff as investors pulled back from high-flying chip stocks.
• Negative Sentiment: AMD’s investment in TensorWave raised concerns about circular financing and added to recent caution around AI-related capital allocation.
• Negative Sentiment: Several market commentators and analysts warned that AMD’s sharp multi-month rally may be leaving the stock vulnerable to a valuation reset.

Advanced Micro Devices Trading Down 4.9%

Shares of NASDAQ:AMD opened at $452.40 on Thursday. The business's 50-day moving average is $374.69 and its 200 day moving average is $270.50. Advanced Micro Devices, Inc. has a 1 year low of $115.06 and a 1 year high of $546.44. The firm has a market capitalization of $737.68 billion, a P/E ratio of 148.33, a P/E/G ratio of 1.40 and a beta of 2.50. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.72 and a quick ratio of 1.96.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its 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. Advanced Micro Devices had a return on equity of 9.55% and a net margin of 13.37%.The company had revenue of $10.25 billion for the quarter, compared to analyst estimates of $9.90 billion. During the same period in the prior year, the company posted $0.96 EPS. The firm's quarterly revenue was up 37.8% compared to the same quarter last year. On average, research analysts predict that Advanced Micro Devices, Inc. will post 6.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Melius Research set a $540.00 target price on Advanced Micro Devices in a report on Monday, May 18th. Morgan Stanley upped their price objective on Advanced Micro Devices from $360.00 to $410.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 6th. Sanford C. Bernstein upgraded Advanced Micro Devices from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $265.00 to $525.00 in a research note on Wednesday, May 6th. Wedbush upped their price objective on Advanced Micro Devices from $290.00 to $400.00 and gave the stock an "outperform" rating in a research note on Monday, May 4th. Finally, Zacks Research cut Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating and thirteen have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $419.86.

Insider Activity at Advanced Micro Devices

In related news, CEO Lisa T. Su sold 125,000 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer directly owned 3,021,899 shares of the company's stock, valued at $1,346,286,223.49. This represents a 3.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Paul Darren Grasby sold 24,376 shares of the company's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $444.39, for a total value of $10,832,450.64. Following the transaction, the executive vice president directly owned 105,222 shares in the company, valued at $46,759,604.58. This represents a 18.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 247,032 shares of company stock worth $101,072,366 over the last ninety days. Corporate insiders own 0.50% of the company's stock.

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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