Conning Inc. Sells 1,159 Shares of Advanced Micro Devices, Inc. $AMD

Key Points

• Conning Inc. reduced its Advanced Micro Devices stake by 13.4% in the first quarter, selling 1,159 shares and leaving it with 7,498 shares valued at about $1.53 million.
• Wall Street sentiment on AMD remains mostly positive, with several analysts raising price targets, including Cantor Fitzgerald to $700 and TD Cowen to $600, while the consensus rating stays at Moderate Buy.
• AMD shares were trading higher at $557.89, and the company’s latest earnings beat expectations with $1.37 EPS and $10.25 billion in revenue, both ahead of estimates.

Conning Inc. lessened its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 13.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,498 shares of the semiconductor manufacturer's stock after selling 1,159 shares during the period. Conning Inc.'s holdings in Advanced Micro Devices were worth $1,525,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Petix & Botte Co raised its stake in Advanced Micro Devices by 4.5% during the 1st quarter. Petix & Botte Co now owns 2,679 shares of the semiconductor manufacturer's stock valued at $545,000 after buying an additional 116 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Advanced Micro Devices by 9.4% during the 1st quarter. Sequoia Financial Advisors LLC now owns 67,353 shares of the semiconductor manufacturer's stock valued at $13,702,000 after purchasing an additional 5,800 shares during the last quarter. Independence Bank of Kentucky increased its position in shares of Advanced Micro Devices by 7.9% during the 1st quarter. Independence Bank of Kentucky now owns 23,495 shares of the semiconductor manufacturer's stock valued at $4,780,000 after purchasing an additional 1,722 shares during the last quarter. Relyea Zuckerberg Hanson LLC lifted its stake in shares of Advanced Micro Devices by 3.5% in the 1st quarter. Relyea Zuckerberg Hanson LLC now owns 3,969 shares of the semiconductor manufacturer's stock worth $807,000 after purchasing an additional 136 shares during the period. Finally, Summa Corp. lifted its stake in shares of Advanced Micro Devices by 0.6% in the 1st quarter. Summa Corp. now owns 122,474 shares of the semiconductor manufacturer's stock worth $24,915,000 after purchasing an additional 704 shares during the period. 71.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Cantor Fitzgerald lifted their price target on shares of Advanced Micro Devices from $500.00 to $700.00 and gave the stock an "overweight" rating in a research note on Monday, June 29th. BTIG Research raised Advanced Micro Devices to a "buy" rating in a research report on Wednesday, May 6th. Wedbush boosted their price objective on Advanced Micro Devices from $290.00 to $400.00 and gave the company an "outperform" rating in a research note on Monday, May 4th. TD Cowen upped their price target on shares of Advanced Micro Devices from $500.00 to $600.00 and gave the stock a "buy" rating in a research report on Monday, June 1st. Finally, Barclays downgraded shares of Advanced Micro Devices from an "overweight" rating to an "underweight" rating in a report on Friday, June 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Advanced Micro Devices currently has a consensus rating of "Moderate Buy" and a consensus target price of $458.92.

Key Advanced Micro Devices News

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

Insider Activity

In related news, CEO Lisa T. Su sold 125,000 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $460.69, for a total value of $57,586,250.00. Following the transaction, the chief executive officer owned 2,896,899 shares of the company's stock, valued at $1,334,572,400.31. This represents a 4.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark D. Papermaster sold 6,000 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $536.33, for a total value of $3,217,980.00. Following the transaction, the executive vice president directly owned 1,233,687 shares in the company, valued at $661,663,348.71. The trade was a 0.48% 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 374,739 shares of company stock worth $161,135,671 in the last three months. Corporate insiders own 0.50% of the company's stock.

Advanced Micro Devices Trading Up 2.0%

AMD stock traded up $11.17 during midday trading on Friday, reaching $557.89. 20,634,405 shares of the company traded hands, compared to its average volume of 27,759,392. The firm has a market capitalization of $909.70 billion, a price-to-earnings ratio of 182.92, a P/E/G ratio of 1.64 and a beta of 2.47. Advanced Micro Devices, Inc. has a 52-week low of $141.60 and a 52-week high of $584.73. The business has a 50 day moving average of $491.60 and a 200-day moving average of $318.92. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.96 and a current ratio of 2.72.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released 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. 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 analyst estimates of $9.90 billion. During the same quarter last year, the business earned $0.96 EPS. The business's revenue was up 37.8% on a year-over-year basis. As a group, sell-side analysts expect that Advanced Micro Devices, Inc. will post 6.18 earnings per share for the current fiscal year.

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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