Harvest Portfolios Group Inc. Buys 78,865 Shares of Advanced Micro Devices, Inc. $AMD

Key Points

• Harvest Portfolios Group increased its AMD stake by 19.1% in the fourth quarter, buying 78,865 additional shares and bringing its total holding to 490,833 shares worth about $105.1 million.
• AMD’s recent earnings beat showed strong momentum, with quarterly EPS of $1.37 and revenue of $10.25 billion, both above expectations, while revenue rose 37.8% year over year.
• Analysts remain broadly positive on AMD, with multiple firms raising price targets and the consensus rating sitting at “Moderate Buy” with a $410 target price, even as some note valuation may already reflect a lot of optimism.

Harvest Portfolios Group Inc. lifted its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 19.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 490,833 shares of the semiconductor manufacturer's stock after purchasing an additional 78,865 shares during the quarter. Advanced Micro Devices comprises 1.8% of Harvest Portfolios Group Inc.'s investment portfolio, making the stock its 15th biggest holding. Harvest Portfolios Group Inc.'s holdings in Advanced Micro Devices were worth $105,117,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the business. James J. Burns & Company LLC grew its position in Advanced Micro Devices by 2.3% in the 4th quarter. James J. Burns & Company LLC now owns 1,816 shares of the semiconductor manufacturer's stock valued at $389,000 after purchasing an additional 40 shares during the period. Cassaday & Co Wealth Management LLC grew its position in Advanced Micro Devices by 0.9% in the 4th quarter. Cassaday & Co Wealth Management LLC now owns 4,912 shares of the semiconductor manufacturer's stock valued at $1,052,000 after purchasing an additional 43 shares during the period. OneAscent Family Office LLC increased its holdings in Advanced Micro Devices by 2.6% during the 3rd quarter. OneAscent Family Office LLC now owns 1,755 shares of the semiconductor manufacturer's stock worth $284,000 after purchasing an additional 44 shares in the last quarter. Willis Johnson & Associates Inc. increased its holdings in Advanced Micro Devices by 1.9% during the 4th quarter. Willis Johnson & Associates Inc. now owns 2,304 shares of the semiconductor manufacturer's stock worth $493,000 after purchasing an additional 44 shares in the last quarter. Finally, Addison Advisors LLC increased its holdings in Advanced Micro Devices by 12.7% during the 3rd quarter. Addison Advisors LLC now owns 400 shares of the semiconductor manufacturer's stock worth $65,000 after purchasing an additional 45 shares in the last quarter. Institutional investors and hedge funds own 71.34% of the company's stock.

Insider Buying and Selling at Advanced Micro Devices

In other news, CEO Lisa T. Su sold 125,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $445.51, for a total transaction of $55,688,750.00. Following the completion of the transaction, the chief executive officer owned 3,021,899 shares in the company, valued at approximately $1,346,286,223.49. This represents a 3.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark D. Papermaster sold 31,320 shares of the stock in a transaction on Friday, April 24th. The stock was sold at an average price of $350.00, for a total value of $10,962,000.00. Following the transaction, the executive vice president owned 1,236,037 shares of the company's stock, valued at $432,612,950. The trade was a 2.47% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 309,598 shares of company stock worth $105,644,316 over the last three months. 0.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on AMD shares. Citigroup boosted their price objective on Advanced Micro Devices from $358.00 to $460.00 and gave the stock a "neutral" rating in a report on Monday. Morgan Stanley increased 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, May 6th. Rosenblatt Securities increased their target price on shares of Advanced Micro Devices from $300.00 to $490.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Truist Financial set a $478.00 target price on shares of Advanced Micro Devices in a report on Wednesday, May 6th. Finally, Wall Street Zen upgraded shares of Advanced Micro Devices from a "hold" rating to a "buy" rating in a report on Monday, January 26th. Two research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, Advanced Micro Devices presently has a consensus rating of "Moderate Buy" and a consensus target price of $410.00.

Advanced Micro Devices Stock Down 1.6%

AMD opened at $414.05 on Wednesday. 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 stock has a market cap of $675.15 billion, a price-to-earnings ratio of 135.75, a PEG ratio of 1.25 and a beta of 2.40. Advanced Micro Devices, Inc. has a twelve month low of $107.67 and a twelve month high of $469.21. The company's 50-day moving average price is $282.35 and its two-hundred day moving average price is $242.59.

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

Advanced Micro Devices News Summary

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

• Positive Sentiment: Citi raised its AMD price target to $460, citing a much larger server CPU market opportunity tied to AI-driven demand, even though the firm kept a Neutral rating. AMD Price Target Vaults to $460 at Citi on $132 Billion CPU Forecast. So Why Neutral?
• Positive Sentiment: Several recent articles and analyst notes argue AMD is benefiting from strong AI infrastructure spending, rising enterprise CPU demand, and continued momentum in data-center chips. The $132 Billion Infrastructure Pivot You Might Have Missed
• Positive Sentiment: Wall Street commentary continues to favor AMD after its strong rally this year, with some pieces suggesting the stock could still have room to run toward $500 if AI chip demand and server CPU share gains persist. Should Investors Buy AMD Stock Instead of Nvidia?
• Neutral Sentiment: AMD is still being compared favorably with Nvidia, but some analysts say the valuation already reflects a lot of optimism, which may limit near-term upside. AMD: Priced Like A Leader, Operating In Nvidia's Shadow
• Negative Sentiment: Some traders are warning that semiconductors have become a crowded trade, raising the risk of pullbacks if AI enthusiasm cools or money rotates out of chip stocks. Nvidia, AMD Bulls Beware — Wall Street's Most Crowded Trade Just Flashed A Sell Warning
• Negative Sentiment: AMD also faced some short-term pressure from broader chip-sector weakness and investor caution after a strong multiweek run, which may be contributing to today’s softer trading. Nasdaq Finishes Lower. The Chip Stock Selloff Gathers Steam.

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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