iA Global Asset Management Inc. Increases Position in Advanced Micro Devices, Inc. $AMD

Key Points

• iA Global Asset Management increased its stake in AMD by 7.7% in the fourth quarter, bringing its holdings to 202,412 shares worth about $43.3 million.
• AMD reported a strong quarterly earnings beat, posting $1.37 EPS on $10.25 billion in revenue, with sales up 37.8% year over year, helped by robust data center demand.
• Analyst sentiment remains positive overall, with multiple firms raising targets or ratings and Wall Street’s consensus standing at a Moderate Buy with a target price of $396.95.

iA Global Asset Management Inc. raised its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 7.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 202,412 shares of the semiconductor manufacturer's stock after purchasing an additional 14,482 shares during the quarter. iA Global Asset Management Inc.'s holdings in Advanced Micro Devices were worth $43,349,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Impax Asset Management Group plc increased its position in shares of Advanced Micro Devices by 326.5% during the third quarter. Impax Asset Management Group plc now owns 52,068 shares of the semiconductor manufacturer's stock worth $8,424,000 after acquiring an additional 39,861 shares during the period. Zweig DiMenna Associates LLC increased its position in shares of Advanced Micro Devices by 127.6% during the third quarter. Zweig DiMenna Associates LLC now owns 72,602 shares of the semiconductor manufacturer's stock worth $11,746,000 after acquiring an additional 40,708 shares during the period. Wedbush Securities Inc. increased its position in shares of Advanced Micro Devices by 7.8% during the third quarter. Wedbush Securities Inc. now owns 84,256 shares of the semiconductor manufacturer's stock worth $13,632,000 after acquiring an additional 6,095 shares during the period. Highline Wealth Partners LLC increased its position in shares of Advanced Micro Devices by 4,891.6% during the fourth quarter. Highline Wealth Partners LLC now owns 8,286 shares of the semiconductor manufacturer's stock worth $1,775,000 after acquiring an additional 8,120 shares during the period. Finally, William Blair Investment Management LLC increased its position in shares of Advanced Micro Devices by 72.5% during the third quarter. William Blair Investment Management LLC now owns 1,047,200 shares of the semiconductor manufacturer's stock worth $169,426,000 after acquiring an additional 440,296 shares during the period. Hedge funds and other institutional investors own 71.34% of the company's stock.

More Advanced Micro Devices News

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

• Positive Sentiment: Q1 earnings and revenue both topped expectations, with data center sales up sharply on strong demand for EPYC CPUs and Instinct GPUs.
• Positive Sentiment: Several analysts raised price targets after the earnings report, citing AMD’s accelerating AI and data center growth.
• Positive Sentiment: AMD expanded FSR 4.1 support to older GPUs and introduced new Ryzen PRO 9000 offerings, reinforcing product momentum in client and gaming.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AMD shares. Raymond James Financial started coverage on Advanced Micro Devices in a research report on Wednesday, May 6th. They set a "market perform" rating on the stock. Truist Financial set a $478.00 price objective on Advanced Micro Devices in a research report on Wednesday, May 6th. Zacks Research raised Advanced Micro Devices from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 5th. Wall Street Zen raised Advanced Micro Devices from a "hold" rating to a "buy" rating in a research report on Monday, January 26th. Finally, Piper Sandler reaffirmed an "overweight" rating on shares of Advanced Micro Devices in a research report on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $396.95.

Insider Buying and Selling

In related news, EVP Paul Darren Grasby sold 24,376 shares of the business's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $444.39, for a total transaction of $10,832,450.64. Following the completion of the transaction, the executive vice president owned 105,222 shares in the company, valued at approximately $46,759,604.58. The trade was a 18.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Mark D. Papermaster sold 31,320 shares of the company's stock in a transaction on Friday, April 24th. The shares were sold at an average price of $350.00, for a total transaction of $10,962,000.00. Following the completion of the transaction, the executive vice president owned 1,236,037 shares of the company's stock, valued at $432,612,950. This represents a 2.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 309,598 shares of company stock worth $105,644,316. Corporate insiders own 0.50% of the company's stock.

Advanced Micro Devices Stock Performance

Shares of AMD stock opened at $424.10 on Friday. The company has a current ratio of 2.72, a quick ratio of 1.96 and a debt-to-equity ratio of 0.04. The firm has a fifty day moving average price of $273.49 and a 200 day moving average price of $240.52. The company has a market cap of $691.54 billion, a P/E ratio of 139.05, a PEG ratio of 1.26 and a beta of 2.40. Advanced Micro Devices, Inc. has a 12 month low of $107.67 and a 12 month high of $469.21.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 EPS for the quarter, topping analysts' consensus estimates of $1.29 by $0.08. The firm had revenue of $10.25 billion during the quarter, compared to the consensus estimate 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 revenue was up 37.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.96 earnings per share. Sell-side analysts predict that Advanced Micro Devices, Inc. will post 6.2 earnings per share for the current fiscal year.

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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