Carnegie Investment Counsel Has $7 Million Holdings in Advanced Micro Devices, Inc. $AMD

Key Points

• Carnegie Investment Counsel reduced its AMD stake by 11.3% in the first quarter, selling 4,398 shares and leaving it with 34,407 shares worth about $7.0 million.
• Institutional ownership remains heavy, with 71.34% of AMD shares held by hedge funds and other large investors, even as several major funds recently adjusted their positions.
• AMD reported better-than-expected quarterly results, posting $1.37 EPS on $10.25 billion in revenue, while analysts have been raising price targets and maintaining generally bullish ratings on the stock.

Carnegie Investment Counsel cut its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 11.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,407 shares of the semiconductor manufacturer's stock after selling 4,398 shares during the period. Carnegie Investment Counsel's holdings in Advanced Micro Devices were worth $6,999,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of AMD. Norges Bank bought a new position in Advanced Micro Devices in the 4th quarter worth approximately $4,929,312,000. Jennison Associates LLC boosted its position in 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 valued at $2,336,552,000 after buying an additional 7,035,991 shares during the last quarter. Cardano Risk Management B.V. acquired a new stake in shares of Advanced Micro Devices in the 4th quarter valued at $1,000,783,000. Wellington Management Group LLP increased its stake 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 valued at $784,330,000 after buying an additional 3,735,807 shares during the period. Finally, Franklin Resources Inc. raised its position in shares of Advanced Micro Devices by 340.1% during the fourth quarter. Franklin Resources Inc. now owns 4,747,834 shares of the semiconductor manufacturer's stock worth $1,016,796,000 after acquiring an additional 3,669,054 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Advanced Micro Devices news, EVP Paul Darren Grasby sold 24,376 shares of the company'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 value of $10,832,450.64. Following the completion of the sale, the executive vice president owned 105,222 shares of the company's stock, valued at approximately $46,759,604.58. This represents a 18.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark D. Papermaster sold 31,320 shares of the stock in a transaction on Friday, April 24th. The stock was 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 in the company, valued at approximately $432,612,950. This trade represents a 2.47% 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. 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 Stock Performance

NASDAQ:AMD opened at $557.89 on Monday. 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 $141.60 and a 1-year high of $584.73. The firm has a market capitalization of $909.70 billion, a price-to-earnings ratio of 182.92, a PEG ratio of 1.64 and a beta of 2.47. The business's 50-day moving average price is $491.60 and its two-hundred day moving average price is $319.65.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.08. The company 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 company's revenue for the quarter was up 37.8% compared to the same quarter last year. 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 6.18 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Susquehanna upped their price target on Advanced Micro Devices from $375.00 to $450.00 and gave the company a "positive" rating in a research note on Wednesday, May 6th. Citigroup cut Advanced Micro Devices from a "buy" rating to a "market perform" rating in a report on Friday, June 12th. Melius Research set a $540.00 target price on shares of Advanced Micro Devices in a research note on Monday, May 18th. Evercore reiterated an "outperform" rating and set a $579.00 price target on shares of Advanced Micro Devices in a research report on Tuesday, May 19th. Finally, Needham & Company LLC raised shares of Advanced Micro Devices to a "buy" rating in a research note on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $458.92.

Advanced Micro Devices News Summary

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

• Positive Sentiment: Stifel raised its AMD price target to $635 from $450 and reiterated a Buy rating, citing AMD’s growing strength in AI servers and EPYC CPUs.
• Positive Sentiment: Goldman Sachs and other firms have also lifted targets recently, signaling rising Wall Street confidence in AMD’s AI and data-center growth. Goldman Sachs raises AMD stock price target for the rest of 2026 on surging agentic AI CPU demand
• Positive Sentiment: AMD announced a new AI campus partnership, adding another potential growth avenue tied to large-scale AI infrastructure spending. AMD Stock Rallies on a New AI Campus Partnership
• Neutral Sentiment: AMD’s upcoming Aug. 4 earnings report is creating anticipation for a possible beat-and-raise quarter, but the actual results are still pending.
• Negative Sentiment: ARK Invest continued selling AMD shares, which may temper enthusiasm among some investors. Cathie Wood Bets Big on META Ahead of Q2 Earnings, Sells AMD and Other Growth Stocks

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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