Ethic Inc. Acquires 9,159 Shares of Advanced Micro Devices, Inc. $AMD

Key Points

• Ethic Inc. increased its AMD stake by 6.4% in the fourth quarter, adding 9,159 shares and bringing its total holdings to 153,134 shares worth about $32.8 million.
• AMD reported strong quarterly results, beating earnings and revenue expectations with EPS of $1.37 on revenue of $10.25 billion, supported by continued data-center and AI demand.
• Wall Street turned more bullish on AMD, with multiple analysts raising ratings and price targets; the average target now stands at $388.84, while the stock has surged to near its 52-week high.

Ethic Inc. lifted its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 6.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 153,134 shares of the semiconductor manufacturer's stock after buying an additional 9,159 shares during the period. Advanced Micro Devices comprises 0.5% of Ethic Inc.'s holdings, making the stock its 23rd largest position. Ethic Inc.'s holdings in Advanced Micro Devices were worth $32,795,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Jennison Associates LLC boosted 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 during the last quarter. Wellington Management Group LLP raised its stake in shares of Advanced Micro Devices by 335.9% during the 3rd quarter. Wellington Management Group LLP now owns 4,847,825 shares of the semiconductor manufacturer's stock worth $784,330,000 after purchasing an additional 3,735,807 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Advanced Micro Devices by 104.4% during 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 purchasing an additional 3,059,935 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Advanced Micro Devices by 203.7% in the 3rd quarter. Nordea Investment Management AB now owns 3,905,148 shares of the semiconductor manufacturer's stock valued at $631,892,000 after buying an additional 2,619,294 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Advanced Micro Devices by 1.6% in 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 buying an additional 2,525,109 shares in the last quarter. Institutional investors own 71.34% of the company's stock.

Insider Transactions at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 31,320 shares of the business's stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $350.00, for a total value of $10,962,000.00. Following the completion of the sale, the executive vice president owned 1,236,037 shares of the company's stock, valued at approximately $432,612,950. The trade was a 2.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Paul Darren Grasby sold 7,500 shares of the company's stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $204.87, for a total transaction of $1,536,525.00. Following the completion of the transaction, the executive vice president owned 129,598 shares in the company, valued at $26,550,742.26. This trade represents a 5.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 304,672 shares of company stock valued at $70,135,070. Corporate insiders own 0.50% of the company's stock.

Advanced Micro Devices News Summary

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

• Positive Sentiment: AMD’s latest earnings and guidance continue to fuel the rally, with the company beating expectations and highlighting strong data-center/AI demand. AMD, Micron shares surge on a big day for chip-sector outperformance
• Positive Sentiment: Analysts are getting more bullish after earnings, including new or raised price targets and higher EPS estimates that suggest further upside if AI server CPU demand stays strong. As CPUs Steal the Show, AMD Stock Just Got a New Street-High Price Target
• Positive Sentiment: Wall Street commentary suggests the AI opportunity is broadening from GPUs to CPUs, which helps position AMD as a key beneficiary of the next phase of AI infrastructure spending. Wall Street sees 'changing of the guard in AI' as Intel, AMD shares soar while Nvidia lags
• Neutral Sentiment: Coverage also notes that AMD shares are drawing attention from traders and momentum investors after the stock’s sharp run, which could keep volatility elevated. What Is AMD Stock’s Minimum & Maximum Potential After Earnings?
• Negative Sentiment: Some investors are locking in gains after the huge rally, including Cathie Wood/ARK trimming AMD holdings, which may cap near-term upside. Cathie Wood Dumps More AMD Shares Despite Its Massive 108% Rally. Here's Why.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group upgraded shares of Advanced Micro Devices from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $240.00 to $450.00 in a report on Wednesday. Mizuho lifted their price objective on shares of Advanced Micro Devices from $280.00 to $415.00 and gave the company an "outperform" rating in a research report on Wednesday. Wall Street Zen upgraded shares of Advanced Micro Devices from a "hold" rating to a "buy" rating in a research note on Monday, January 26th. Morgan Stanley upped their target price on shares of Advanced Micro Devices from $360.00 to $410.00 and gave the company an "equal weight" rating in a report on Wednesday. Finally, BTIG Research upgraded Advanced Micro Devices to a "buy" rating in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and twelve have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $388.84.

Advanced Micro Devices Stock Up 11.4%

Advanced Micro Devices stock opened at $455.19 on Friday. The company's 50-day moving average price is $243.98 and its two-hundred day moving average price is $231.76. The company has a quick ratio of 2.01, a current ratio of 2.72 and a debt-to-equity ratio of 0.04. The stock has a market cap of $742.23 billion, a P/E ratio of 149.24, a P/E/G ratio of 1.26 and a beta of 2.40. Advanced Micro Devices, Inc. has a twelve month low of $101.60 and a twelve month high of $456.29.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.29 by $0.08. The company had revenue of $10.25 billion during 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 revenue was up 37.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.96 earnings per share. As a group, analysts expect that Advanced Micro Devices, Inc. will post 5.95 EPS for the current 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.