Connecticut Capital Management Group LLC Invests $377,000 in Advanced Micro Devices, Inc. $AMD

Key Points

• Connecticut Capital Management Group LLC bought a new position in Advanced Micro Devices during the fourth quarter, acquiring 1,761 shares worth about $377,000.
• Institutional ownership in AMD remains heavy, with hedge funds and other investors holding 71.34% of the stock. Several large firms, including Jennison Associates and Vanguard, also increased their positions recently.
• AMD’s latest results were strong, with EPS of $1.37 and revenue of $10.25 billion, both above expectations. Analysts remain generally constructive, with a consensus rating of Moderate Buy and an average price target of $410.

Connecticut Capital Management Group LLC purchased a new position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,761 shares of the semiconductor manufacturer's stock, valued at approximately $377,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jennison Associates LLC lifted its position in Advanced Micro Devices by 181.6% during the fourth quarter. Jennison Associates LLC now owns 10,910,310 shares of the semiconductor manufacturer's stock valued at $2,336,552,000 after purchasing an additional 7,035,991 shares in the last quarter. Wellington Management Group LLP lifted its position in Advanced Micro Devices by 335.9% during the third quarter. Wellington Management Group LLP now owns 4,847,825 shares of the semiconductor manufacturer's stock valued at $784,330,000 after purchasing an additional 3,735,807 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Advanced Micro Devices by 104.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 5,991,297 shares of the semiconductor manufacturer's stock valued at $1,283,096,000 after purchasing an additional 3,059,935 shares in the last quarter. Vanguard Group Inc. lifted its position in Advanced Micro Devices by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 158,522,860 shares of the semiconductor manufacturer's stock valued at $33,949,256,000 after purchasing an additional 2,525,109 shares in the last quarter. Finally, Rafferty Asset Management LLC lifted its position in Advanced Micro Devices by 56.0% during the second quarter. Rafferty Asset Management LLC now owns 6,772,923 shares of the semiconductor manufacturer's stock valued at $961,078,000 after purchasing an additional 2,430,533 shares in the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Advanced Micro Devices

In other news, EVP Forrest Eugene Norrod sold 19,487 shares of Advanced Micro Devices stock in a transaction dated 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 approximately $140,000,947.80. The trade was a 5.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lisa T. Su sold 125,000 shares of Advanced Micro Devices stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $445.51, for a total value of $55,688,750.00. Following the completion of the sale, the chief executive officer directly owned 3,021,899 shares in the company, valued at $1,346,286,223.49. This trade represents a 3.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 329,085 shares of company stock valued at $114,051,007. 0.50% of the stock is owned by company insiders.

Advanced Micro Devices Price Performance

NASDAQ:AMD opened at $495.54 on Thursday. The company has a quick ratio of 1.96, a current ratio of 2.72 and a debt-to-equity ratio of 0.04. The business's 50-day simple moving average is $315.01 and its two-hundred day simple moving average is $251.86. The stock has a market cap of $808.03 billion, a PE ratio of 162.47, a P/E/G ratio of 1.48 and a beta of 2.40. Advanced Micro Devices, Inc. has a 52 week low of $108.62 and a 52 week high of $510.21.

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, beating analysts' consensus estimates of $1.29 by $0.08. The business had revenue of $10.25 billion for the quarter, compared to analysts' expectations of $9.90 billion. Advanced Micro Devices had a return on equity of 9.55% and a net margin of 13.37%.The business's quarterly revenue was up 37.8% on a year-over-year basis. During the same period last year, the firm earned $0.96 earnings per share. As a group, analysts forecast that Advanced Micro Devices, Inc. will post 6.2 EPS for the current fiscal year.

Advanced Micro Devices News Roundup

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

• Positive Sentiment: AMD’s data center business remains a major growth engine, with one recent write-up highlighting 57% year-over-year data center revenue growth to $5.78 billion, driven by EPYC CPU demand and ramping Instinct AI products. Article title
• Positive Sentiment: AMD got a lift from a new OneQode collaboration to deploy AMD Instinct MI355X GPUs and plan for AMD’s Helios rack-scale solution, reinforcing demand for its AI infrastructure products. Article title
• Positive Sentiment: Analyst commentary remains constructive, with multiple recent notes describing AMD as a beneficiary of the AI spending cycle and highlighting upside tied to continued data center and CPU gains. Article title
• Neutral Sentiment: Some articles focused on AMD’s rapid valuation expansion and the question of whether the stock can become a trillion-dollar company, which keeps expectations high but does not change the near-term growth story. Article title
• Negative Sentiment: Sentiment was pressured by reports that Cathie Wood continued trimming AMD exposure, and by concerns that Nvidia could move into the standalone server CPU market, increasing competitive pressure on AMD’s growth areas. Article title Article title

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. HSBC downgraded Advanced Micro Devices from a "buy" rating to a "hold" rating and lifted their target price for the company from $335.00 to $340.00 in a research report on Monday, May 4th. Barclays lifted their target price on Advanced Micro Devices from $300.00 to $500.00 and gave the company an "overweight" rating in a research report on Wednesday, May 6th. Erste Group Bank upgraded Advanced Micro Devices from a "hold" rating to a "buy" rating in a research report on Thursday, April 2nd. Wells Fargo & Company lifted their target price on 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, Bank of America lifted their target price on Advanced Micro Devices from $450.00 to $500.00 and gave the company a "buy" rating in a research report on Wednesday, May 13th. Two research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat.com, Advanced Micro Devices presently has an average rating of "Moderate Buy" and a consensus price target of $410.00.

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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