Ground Swell Capital LLC Increases Stock Holdings in Advanced Micro Devices, Inc. $AMD

Key Points

• Ground Swell Capital increased its AMD stake by 48.6% in the first quarter, ending with 2,970 shares valued at about $604,000.
• Institutional ownership remains heavy, with hedge funds and other institutional investors holding 71.34% of AMD shares, while some insiders have been selling stock in recent months.
• Analysts remain broadly bullish on AMD, with several firms raising price targets and the company reporting a strong quarter that beat earnings and revenue estimates, even as the stock trades near its 52-week high.

Ground Swell Capital LLC boosted its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 48.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 2,970 shares of the semiconductor manufacturer's stock after acquiring an additional 971 shares during the quarter. Advanced Micro Devices accounts for about 1.2% of Ground Swell Capital LLC's portfolio, making the stock its 16th biggest holding. Ground Swell Capital LLC's holdings in Advanced Micro Devices were worth $604,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMD. Joseph Group Capital Management purchased a new position in Advanced Micro Devices during the fourth quarter valued at $25,000. Cornerstone Financial Management LLC purchased a new stake in shares of Advanced Micro Devices during the fourth quarter worth about $27,000. Sarver Vrooman Wealth Advisors purchased a new stake in shares of Advanced Micro Devices during the fourth quarter worth about $27,000. Basepoint Wealth LLC acquired a new position in shares of Advanced Micro Devices during the 4th quarter worth about $30,000. Finally, Wilkerson Advisory Group LLC acquired a new position in shares of Advanced Micro Devices during the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 71.34% of the company's stock.

Insider Buying and Selling

In other news, Director Nora Denzel sold 8,626 shares of Advanced Micro Devices stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $522.00, for a total transaction of $4,502,772.00. Following the sale, the director owned 87,173 shares of the company's stock, valued at approximately $45,504,306. The trade was a 9.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark D. Papermaster sold 31,320 shares of the company's stock in a transaction that occurred on 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 transaction, the executive vice president owned 1,236,037 shares in the company, valued at $432,612,950. This represents a 2.47% decrease in their ownership of the stock. 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 a total of 378,032 shares of company stock worth $161,876,596 over the last ninety days. 0.50% of the stock is currently owned by insiders.

Trending Headlines about Advanced Micro Devices

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

• Positive Sentiment: Wall Street sentiment remains upbeat, with multiple analysts raising AMD price targets in June, including a street-high call from UBS, as firms increasingly view AMD as a bigger player in AI infrastructure and data center CPUs.
• Positive Sentiment: AMD continues to gain credibility in enterprise AI, including recognition from Gartner as a leading server CPU company, which supports the long-term growth case for its data center business. Article Title
• Positive Sentiment: New business wins are also helping sentiment, including a definitive agreement with Rackspace Technology to deploy AMD-based infrastructure, reinforcing demand for AMD chips in cloud and enterprise workloads. Article Title
• Positive Sentiment: Several recent articles argue AMD still has meaningful upside as investors focus on its CPU and AI data center growth, with some bullish commentary suggesting the market may still be underappreciating its long-term earnings power.
• Neutral Sentiment: One recent piece highlighted both the positives and a caution on AMD, noting the stock’s huge six-month run and suggesting investors should stay aware of valuation risk after such a strong rally.
• Negative Sentiment: The semiconductor group has also been under pressure today, with AI chip names, including AMD, softening as momentum in the sector cools and investors rotate out of the space. Article Title
• Negative Sentiment: Bearish/neutral valuation commentary has also picked up, with some coverage questioning whether AMD’s rapid stock gains have already priced in a lot of future growth, which can weigh on the shares in the short term.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Advanced Micro Devices from $345.00 to $505.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Benchmark increased their target price on Advanced Micro Devices from $325.00 to $485.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Loop Capital upgraded Advanced Micro Devices to a "strong-buy" rating in a research report on Tuesday, June 16th. Jefferies Financial Group downgraded Advanced Micro Devices from a "buy" rating to a "hold" rating in a research report on Wednesday, May 6th. Finally, Truist Financial set a $478.00 price target on Advanced Micro Devices in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $440.41.

Advanced Micro Devices Trading Down 2.1%

AMD opened at $521.58 on Friday. The firm has a market capitalization of $850.49 billion, a price-to-earnings ratio of 171.01, a price-to-earnings-growth ratio of 1.57 and a beta of 2.50. The company's 50 day simple moving average is $445.21 and its two-hundred day simple moving average is $296.11. Advanced Micro Devices, Inc. has a 1-year low of $133.50 and a 1-year high of $562.99. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.72 and a quick ratio of 1.96.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.29 by $0.08. Advanced Micro Devices had a return on equity of 9.55% and a net margin of 13.37%.The business had revenue of $10.25 billion during the quarter, compared to analyst estimates of $9.90 billion. During the same period in the prior year, the business earned $0.96 earnings per share. The business's revenue was up 37.8% compared to the same quarter last year. Analysts expect that Advanced Micro Devices, Inc. will post 6.15 EPS 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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