Lord Abbett & CO. LLC Acquires Shares of 470,837 Advanced Micro Devices, Inc. $AMD

Lord Abbett & CO. LLC acquired a new stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 470,837 shares of the semiconductor manufacturer's stock, valued at approximately $100,834,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Sumitomo Life Insurance Co. lifted its holdings in Advanced Micro Devices by 0.9% during the fourth quarter. Sumitomo Life Insurance Co. now owns 17,393 shares of the semiconductor manufacturer's stock valued at $3,725,000 after purchasing an additional 151 shares in the last quarter. Kane Investment Management Inc. purchased a new position in Advanced Micro Devices during the fourth quarter valued at $469,000. Integrity Investment Advisors LLC purchased a new position in Advanced Micro Devices during the fourth quarter valued at $216,000. Wealthspire Advisors LLC lifted its holdings in Advanced Micro Devices by 50.2% during the fourth quarter. Wealthspire Advisors LLC now owns 21,151 shares of the semiconductor manufacturer's stock valued at $4,530,000 after purchasing an additional 7,071 shares in the last quarter. Finally, United Capital Management of KS Inc. purchased a new position in Advanced Micro Devices during the fourth quarter valued at $303,000. 71.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Forrest Eugene Norrod sold 19,487 shares of the firm's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $431.40, for a total transaction of $8,406,691.80. Following the completion of the sale, the executive vice president directly owned 324,527 shares in the company, valued at approximately $140,000,947.80. This trade represents a 5.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lisa T. Su sold 125,000 shares of the firm's stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $460.69, for a total transaction of $57,586,250.00. Following the sale, the chief executive officer owned 2,896,899 shares of the company's stock, valued at approximately $1,334,572,400.31. The trade was a 4.14% 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 sold 372,032 shares of company stock valued at $158,658,616 in the last quarter. Insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AMD. Oppenheimer downgraded shares of Advanced Micro Devices from a "market perform" rating to a "market perform" rating in a research note on Wednesday, May 6th. Bank of America raised their price target on shares of Advanced Micro Devices from $500.00 to $560.00 and gave the stock a "buy" rating in a research note on Thursday. Truist Financial set a $478.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, May 6th. Rosenblatt Securities raised their price target on shares of Advanced Micro Devices from $300.00 to $490.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Finally, Sanford C. Bernstein began coverage on shares of Advanced Micro Devices in a research note on Friday. They issued an "outperform" rating on the stock. One analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Advanced Micro Devices currently has a consensus rating of "Moderate Buy" and an average price target of $424.59.

Key Headlines Impacting Advanced Micro Devices

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

• Positive Sentiment: Citi upgraded AMD and argued that the market is underpricing its AI GPU upside, boosting confidence in the stock’s AI-driven growth path.
• Positive Sentiment: Bank of America also raised its outlook on AMD, calling it a top CPU pick and pointing to a large agentic AI opportunity across servers and accelerators.
• Positive Sentiment: Multiple reports highlighted rising GPU market-share data and stronger investor focus on AMD’s expanding role in AI hardware, helping semiconductor stocks rally broadly.

Advanced Micro Devices Stock Performance

NASDAQ:AMD opened at $511.57 on Friday. Advanced Micro Devices, Inc. has a twelve month low of $115.06 and a twelve month high of $546.44. The company has a market cap of $834.17 billion, a P/E ratio of 167.73, a P/E/G ratio of 1.44 and a beta of 2.50. The company's 50-day moving average price is $386.41 and its 200-day moving average price is $274.18. The company has a current ratio of 2.72, a quick ratio of 1.96 and a debt-to-equity ratio of 0.04.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $9.90 billion. During the same period last year, the business earned $0.96 earnings per share. Advanced Micro Devices's revenue was up 37.8% compared to the same quarter last year. On average, sell-side analysts forecast 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.

Want to see what other hedge funds are holding AMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.