Income Insurance Ltd Takes $1.06 Million Position in Advanced Micro Devices, Inc. $AMD

Key Points

• Income Insurance Ltd opened a new position in Advanced Micro Devices during the fourth quarter, buying 4,969 shares valued at about $1.06 million. AMD now makes up roughly 0.7% of the firm’s portfolio.
• AMD’s latest quarterly results beat expectations, with EPS of $1.37 versus $1.29 expected and revenue of $10.25 billion, up 37.8% from a year earlier. The strong report helped fuel a recent 11.4% stock gain.
• Despite bullish analyst commentary and a higher consensus price target of $388.84, insiders have been selling shares, including notable recent sales by executives Forrest Eugene Norrod and Mark D. Papermaster. Institutional investors still own 71.34% of AMD’s stock.

Income Insurance Ltd purchased a new stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 4,969 shares of the semiconductor manufacturer's stock, valued at approximately $1,064,000. Advanced Micro Devices accounts for about 0.7% of Income Insurance Ltd's investment portfolio, making the stock its 24th biggest holding.

Other institutional investors also recently modified their holdings of the company. Joseph Group Capital Management bought a new position in shares of Advanced Micro Devices in the fourth quarter valued at approximately $25,000. ORG Wealth Partners LLC raised its position in shares of Advanced Micro Devices by 39.7% in the third quarter. ORG Wealth Partners LLC now owns 162 shares of the semiconductor manufacturer's stock valued at $26,000 after purchasing an additional 46 shares during the period. Koesten Hirschmann & Crabtree INC. grew its stake in shares of Advanced Micro Devices by 61.0% in the third quarter. Koesten Hirschmann & Crabtree INC. now owns 161 shares of the semiconductor manufacturer's stock worth $26,000 after acquiring an additional 61 shares during the last quarter. Aviso Financial Inc. grew its stake in shares of Advanced Micro Devices by 400.0% in the third quarter. Aviso Financial Inc. now owns 200 shares of the semiconductor manufacturer's stock worth $32,000 after acquiring an additional 160 shares during the last quarter. Finally, Delos Wealth Advisors LLC grew its stake in shares of Advanced Micro Devices by 100.0% in the third quarter. Delos Wealth Advisors LLC now owns 200 shares of the semiconductor manufacturer's stock worth $32,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 71.34% of the company's stock.

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 19,450 shares of Advanced Micro Devices stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $216.81, for a total transaction of $4,216,954.50. Following the sale, the executive vice president owned 289,098 shares in the company, valued at $62,679,337.38. The trade was a 6.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark D. Papermaster sold 31,320 shares of Advanced Micro Devices stock in a transaction on Friday, April 24th. The stock was sold at an average price of $350.00, for a total transaction of $10,962,000.00. Following the sale, 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 position. 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 have sold 304,672 shares of company stock worth $70,135,070 over the last three months. 0.50% of the stock is currently owned by corporate insiders.

Advanced Micro Devices Stock Up 11.4%

AMD opened at $455.19 on Friday. Advanced Micro Devices, Inc. has a fifty-two week low of $101.60 and a fifty-two week high of $456.29. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.72 and a quick ratio of 2.01. The firm's fifty day moving average price is $243.98 and its two-hundred day moving average price is $231.76. The company has a market capitalization of $742.23 billion, a P/E ratio of 149.24, a P/E/G ratio of 1.41 and a beta of 2.40.

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 for the quarter, topping analysts' consensus estimates of $1.29 by $0.08. Advanced Micro Devices had a net margin of 13.37% and a return on equity of 9.55%. The firm had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $9.90 billion. During the same quarter in the previous year, the company earned $0.96 earnings per share. The business's revenue was up 37.8% compared to the same quarter last year. On average, analysts anticipate that Advanced Micro Devices, Inc. will post 5.99 EPS for the current year.

Advanced Micro Devices News Roundup

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

Several equities research analysts have recently issued reports on AMD shares. Piper Sandler restated an "overweight" rating on shares of Advanced Micro Devices in a research note on Wednesday, February 25th. Truist Financial set a $478.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday. HSBC downgraded shares of Advanced Micro Devices from a "buy" rating to a "hold" rating and raised their price objective for the stock from $335.00 to $340.00 in a research note on Monday, May 4th. Zacks Research upgraded shares of Advanced Micro Devices from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 5th. Finally, Phillip Securities upgraded shares of Advanced Micro Devices from a "moderate buy" rating to a "strong-buy" rating in a research note on Sunday, February 8th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $388.84.

About Advanced Micro Devices

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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