KLP Kapitalforvaltning AS Purchases 16,800 Shares of Advanced Micro Devices, Inc. $AMD

Key Points

• KLP Kapitalforvaltning AS increased its stake in Advanced Micro Devices (AMD) by 3.0% during Q2 2023, owning a total of 581,847 shares valued at approximately $82.56 million.
• Instutional investors now hold 71.34% of AMD's stock, with various hedge funds significantly increasing their positions throughout early 2023.
• AMD's recent earnings report revealed a missed EPS estimate of $0.48, despite a year-over-year revenue increase of 31.7% to $7.69 billion.

KLP Kapitalforvaltning AS increased its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 3.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 581,847 shares of the semiconductor manufacturer's stock after purchasing an additional 16,800 shares during the period. KLP Kapitalforvaltning AS's holdings in Advanced Micro Devices were worth $82,564,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Farmers & Merchants Trust Co of Chambersburg PA increased its position in shares of Advanced Micro Devices by 277.8% in the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 272 shares of the semiconductor manufacturer's stock worth $28,000 after purchasing an additional 200 shares during the period. American Capital Advisory LLC grew its position in Advanced Micro Devices by 90.3% in the first quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer's stock valued at $28,000 after acquiring an additional 130 shares during the last quarter. Kozak & Associates Inc. grew its position in Advanced Micro Devices by 67.6% in the first quarter. Kozak & Associates Inc. now owns 305 shares of the semiconductor manufacturer's stock valued at $29,000 after acquiring an additional 123 shares during the last quarter. Dogwood Wealth Management LLC grew its position in Advanced Micro Devices by 2,311.1% in the second quarter. Dogwood Wealth Management LLC now owns 217 shares of the semiconductor manufacturer's stock valued at $30,000 after acquiring an additional 208 shares during the last quarter. Finally, West Branch Capital LLC grew its position in Advanced Micro Devices by 3,057.1% in the second quarter. West Branch Capital LLC now owns 221 shares of the semiconductor manufacturer's stock valued at $31,000 after acquiring an additional 214 shares during the last quarter. Institutional investors own 71.34% of the company's stock.

Insider Buying and Selling

In related news, EVP Paul Darren Grasby sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $173.21, for a total value of $1,732,100.00. Following the sale, the executive vice president directly owned 125,505 shares in the company, valued at $21,738,721.05. This represents a 7.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Forrest Eugene Norrod sold 2,250 shares of the company's stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $165.01, for a total value of $371,272.50. Following the completion of the sale, the executive vice president owned 311,598 shares in the company, valued at $51,416,785.98. The trade was a 0.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 272,448 shares of company stock valued at $44,554,848. Insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on AMD. Truist Financial upgraded Advanced Micro Devices from a "hold" rating to a "buy" rating and lifted their target price for the company from $173.00 to $213.00 in a research report on Tuesday, August 26th. Rosenblatt Securities reiterated a "buy" rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research report on Friday, June 13th. Piper Sandler lifted their target price on Advanced Micro Devices from $140.00 to $190.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. Erste Group Bank lowered Advanced Micro Devices from a "buy" rating to a "hold" rating in a research note on Thursday, September 11th. Finally, Benchmark lifted their price target on Advanced Micro Devices from $210.00 to $270.00 and gave the company a "buy" rating in a research note on Monday. Three analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Advanced Micro Devices presently has an average rating of "Moderate Buy" and a consensus target price of $198.30.

Advanced Micro Devices Stock Performance

Shares of AMD stock opened at $203.71 on Tuesday. The business's 50 day simple moving average is $166.54 and its 200 day simple moving average is $134.48. Advanced Micro Devices, Inc. has a one year low of $76.48 and a one year high of $226.71. The stock has a market capitalization of $330.59 billion, a PE ratio of 117.07, a PEG ratio of 1.94 and a beta of 1.90. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.49 and a quick ratio of 1.81.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its earnings results on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.06). Advanced Micro Devices had a net margin of 9.57% and a return on equity of 7.54%. The company had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.41 billion. During the same quarter in the previous year, the company earned $0.69 earnings per share. The business's revenue was up 31.7% on a year-over-year basis. Advanced Micro Devices has set its Q3 2025 guidance at EPS. As a group, research analysts forecast that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Advanced Micro Devices Profile

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates through Data Center, Client, Gaming, and Embedded segments. The company offers x86 microprocessors and graphics processing units (GPUs) as an accelerated processing unit, chipsets, data center, and professional GPUs; and embedded processors, and semi-custom system-on-chip (SoC) products, microprocessor and SoC development services and technology, data processing unites, field programmable gate arrays (FPGA), and adaptive SoC products.

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