Keudell Morrison Wealth Management Takes Position in Advanced Micro Devices, Inc. $AMD

Key Points

• Keudell Morrison Wealth Management opened a new position in AMD during the fourth quarter, buying 2,834 shares valued at about $607,000.
• AMD reported strong quarterly results, with EPS of $1.37 and revenue of $10.25 billion, both beating analyst expectations. Revenue also rose 37.8% year over year.
• Investor and analyst sentiment appears positive: several hedge funds increased their AMD holdings, and TD Cowen raised its price target to $500 while maintaining a Buy rating.

Keudell Morrison Wealth Management bought a new position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,834 shares of the semiconductor manufacturer's stock, valued at approximately $607,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Impax Asset Management Group plc boosted its holdings in Advanced Micro Devices by 326.5% in the third quarter. Impax Asset Management Group plc now owns 52,068 shares of the semiconductor manufacturer's stock valued at $8,424,000 after acquiring an additional 39,861 shares during the last quarter. Zweig DiMenna Associates LLC increased its stake in 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 last quarter. Wedbush Securities Inc. increased its stake in 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 last quarter. WealthPlan Investment Management LLC raised its holdings in shares of Advanced Micro Devices by 338.5% in the 4th quarter. WealthPlan Investment Management LLC now owns 6,157 shares of the semiconductor manufacturer's stock worth $1,319,000 after purchasing an additional 4,753 shares during the period. Finally, Highline Wealth Partners LLC lifted its stake in shares of Advanced Micro Devices by 4,891.6% in the 4th quarter. Highline Wealth Partners LLC now owns 8,286 shares of the semiconductor manufacturer's stock valued at $1,775,000 after purchasing an additional 8,120 shares in the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

Advanced Micro Devices Stock Up 0.4%

NASDAQ AMD opened at $449.59 on Friday. The company has a quick ratio of 1.96, a current ratio of 2.72 and a debt-to-equity ratio of 0.04. Advanced Micro Devices, Inc. has a fifty-two week low of $107.67 and a fifty-two week high of $469.21. The business has a 50 day moving average price of $292.17 and a two-hundred day moving average price of $245.31. The stock has a market cap of $733.10 billion, a PE ratio of 147.41, a P/E/G ratio of 1.33 and a beta of 2.40.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted 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 business 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 business's revenue for the quarter was up 37.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.96 earnings per share. As a group, sell-side analysts predict that Advanced Micro Devices, Inc. will post 6.2 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Paul Darren Grasby sold 24,376 shares of the firm's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $444.39, for a total transaction of $10,832,450.64. Following the completion of the sale, the executive vice president directly owned 105,222 shares in the company, valued at $46,759,604.58. This trade represents a 18.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Lisa T. Su sold 125,000 shares of the firm's stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $445.51, for a total value of $55,688,750.00. Following the sale, the chief executive officer owned 3,021,899 shares of the company's stock, valued at $1,346,286,223.49. This represents a 3.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 309,598 shares of company stock valued at $105,644,316 in the last quarter. Company insiders own 0.50% of the company's stock.

Key Headlines Impacting Advanced Micro Devices

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

• Positive Sentiment: AMD said it is ramping production of its 6th Gen EPYC “Venice” CPUs on TSMC’s 2nm process, a major manufacturing milestone that supports its AI and data center strategy. Article Title
• Positive Sentiment: AMD announced more than $10 billion in Taiwan ecosystem investments to expand advanced packaging and AI infrastructure capacity, which could improve supply and accelerate next-gen product deployment. Article Title
• Positive Sentiment: Reuters reported that CEO Lisa Su said AMD is asking partners to ramp up production because of strong AI demand, reinforcing expectations for stronger shipments. Article Title
• Positive Sentiment: Market commentary continues to frame AMD as a beneficiary of the AI chip rotation beyond Nvidia, supporting sentiment around the stock. Article Title

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AMD shares. TD Cowen boosted their target price on Advanced Micro Devices from $290.00 to $500.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. Wall Street Zen raised shares of Advanced Micro Devices from a "hold" rating to a "buy" rating in a research report on Monday, January 26th. Erste Group Bank upgraded shares of Advanced Micro Devices from a "hold" rating to a "buy" rating in a research note on Thursday, April 2nd. Weiss Ratings raised shares of Advanced Micro Devices from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, May 6th. Finally, Piper Sandler reissued an "overweight" rating on shares of Advanced Micro Devices in a research note on Wednesday, February 25th. 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 data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $410.00.

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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