Convergence Financial LLC Grows Position in Advanced Micro Devices, Inc. $AMD

Key Points

• Convergence Financial increased its AMD position by 87.2% in the second quarter, bringing its holdings to 3,850 shares valued at approximately $2.24 million. Institutional investors collectively own 71.34% of AMD.
• AMD reported quarterly EPS of $1.66 versus the $1.62 consensus estimate, while revenue rose 50.1% year over year to $11.54 billion. Shares opened at $506, with a market capitalization of roughly $826 billion and a P/E ratio of 130.08.
• Analyst sentiment remains broadly positive, with AMD holding a “Moderate Buy” consensus rating and an average price target of $546.87. Recent catalysts include a $4.75 billion debt offering to support AI and data-center expansion, while insiders sold $74.7 million of stock during the latest quarter.

Convergence Financial LLC grew its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 87.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,850 shares of the semiconductor manufacturer's stock after purchasing an additional 1,793 shares during the period. Convergence Financial LLC's holdings in Advanced Micro Devices were worth $2,237,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new position in Advanced Micro Devices in the fourth quarter valued at approximately $4,929,312,000. Jennison Associates LLC grew its stake 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 worth $2,336,552,000 after buying an additional 7,035,991 shares during the period. Cardano Risk Management B.V. purchased a new stake in Advanced Micro Devices during the fourth quarter worth approximately $1,000,783,000. Wellington Management Group LLP increased its position in shares of Advanced Micro Devices by 335.9% in the third quarter. Wellington Management Group LLP now owns 4,847,825 shares of the semiconductor manufacturer's stock worth $784,330,000 after acquiring an additional 3,735,807 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Advanced Micro Devices by 340.1% in 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 in the last quarter. Hedge funds and other institutional investors own 71.34% of the company's stock.

Advanced Micro Devices Price Performance

Shares of AMD stock opened at $506.00 on Tuesday. The firm has a fifty day simple moving average of $512.08 and a 200-day simple moving average of $370.08. The company has a market capitalization of $826.03 billion, a PE ratio of 130.08 and a beta of 2.48. Advanced Micro Devices, Inc. has a twelve month low of $149.22 and a twelve month high of $584.73. The company has a current ratio of 2.61, a quick ratio of 1.91 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The semiconductor manufacturer reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.04. Advanced Micro Devices had a net margin of 15.58% and a return on equity of 12.30%. The firm had revenue of $11.54 billion for the quarter, compared to the consensus estimate of $11.31 billion. During the same quarter in the previous year, the firm posted $0.48 EPS. The firm's quarterly revenue was up 50.1% on a year-over-year basis. Equities research analysts anticipate that Advanced Micro Devices, Inc. will post 6.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Forrest Eugene Norrod sold 19,487 shares of the firm's stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $431.40, for a total transaction of $8,406,691.80. Following the completion of the sale, the executive vice president directly owned 324,527 shares in the company, valued at $140,000,947.80. This trade represents a 5.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Ava Hahn sold 143 shares of Advanced Micro Devices stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $474.75, for a total value of $67,889.25. Following the sale, the senior vice president directly owned 17,644 shares in the company, valued at approximately $8,376,489. The trade was a 0.80% 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. Insiders sold a total of 161,077 shares of company stock worth $74,732,145 over the last quarter. Company insiders own 0.50% of the company's stock.

Key Headlines Impacting Advanced Micro Devices

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

• Positive Sentiment: AMD priced a record $4.75 billion senior-notes offering in four tranches maturing from 2029 through 2036. Management plans to use the capital for general corporate purposes, including expanding its AI and data-center businesses. The offering gives AMD additional financial flexibility without issuing shares, although it will increase interest expense. AMD Rises on $4.75 Billion Debt Offering
• Positive Sentiment: Analysts continue to see upside based on accelerating demand for AMD’s AI data-center processors, record data-center revenue, and potential growth in server CPUs. Reported analyst price targets reach as high as $700, supporting the bullish case despite the stock’s large year-to-date advance. AMD Stock Is Up 136% YTD. Why Wall Street Still Sees More Upside
• Positive Sentiment: A quarterly SEC filing disclosed sizable equity stakes in SpaceX and Nutanix. The investments broaden AMD’s strategic exposure to space technology and enterprise infrastructure, though the filing did not establish a direct near-term revenue impact. AMD Filing Reveals Unexpected SpaceX and Nutanix Bet

Analyst Ratings Changes

Several research firms recently weighed in on AMD. Morgan Stanley lifted their target price on shares of Advanced Micro Devices from $410.00 to $465.00 and gave the company an "equal weight" rating in a report on Wednesday, August 5th. Citigroup upgraded Advanced Micro Devices from a "market perform" rating to a "buy" rating in a report on Wednesday, July 22nd. BTIG Research raised Advanced Micro Devices to a "buy" rating in a research report on Wednesday, May 6th. Weiss Ratings restated a "hold (c+)" rating on shares of Advanced Micro Devices in a research note on Monday, August 3rd. Finally, Seaport Research Partners raised Advanced Micro Devices from a "neutral" rating to a "buy" rating and set a $430.00 target price for the company in a research report on Wednesday, May 6th. Three research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $546.87.

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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