Malaga Cove Capital LLC Takes Position in Advanced Micro Devices, Inc. $AMD

Key Points

• Malaga Cove Capital LLC opened a new position in Advanced Micro Devices during the fourth quarter, buying 2,603 shares worth about $557,000.
• Several other institutional investors also added to or initiated AMD holdings, and institutions and hedge funds now own 71.34% of the company.
• Analysts remain bullish on AMD after its latest earnings beat, with multiple firms raising price targets to as high as $530; the consensus rating is Moderate Buy with an average target of $410.

Malaga Cove Capital LLC 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 and Exchange Commission. The institutional investor purchased 2,603 shares of the semiconductor manufacturer's stock, valued at approximately $557,000.

Other large investors also recently made changes to their positions in the company. Joseph Group Capital Management acquired a new position in shares of Advanced Micro Devices in the 4th quarter valued at $25,000. Koesten Hirschmann & Crabtree INC. lifted its stake in shares of Advanced Micro Devices by 61.0% in the 3rd quarter. Koesten Hirschmann & Crabtree INC. now owns 161 shares of the semiconductor manufacturer's stock valued at $26,000 after purchasing an additional 61 shares during the period. Key Capital Management INC acquired a new position in shares of Advanced Micro Devices in the 4th quarter valued at $38,000. PFS Partners LLC lifted its stake in shares of Advanced Micro Devices by 269.2% in the 4th quarter. PFS Partners LLC now owns 192 shares of the semiconductor manufacturer's stock valued at $41,000 after purchasing an additional 140 shares during the period. Finally, Aviso Financial Inc. lifted its stake in shares of Advanced Micro Devices by 400.0% in the 3rd quarter. Aviso Financial Inc. now owns 200 shares of the semiconductor manufacturer's stock valued at $32,000 after purchasing an additional 160 shares during the period. Institutional investors and hedge funds own 71.34% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. TD Cowen increased their price target on Advanced Micro Devices from $290.00 to $500.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Roth Mkm reaffirmed a "buy" rating and set a $500.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, May 6th. Stifel Nicolaus raised their price objective on Advanced Micro Devices from $320.00 to $450.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. KeyCorp raised their price objective on Advanced Micro Devices from $330.00 to $530.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. Finally, Wolfe Research assumed coverage on Advanced Micro Devices in a research note on Wednesday, May 6th. They set a "peer perform" rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $410.00.

Key Advanced Micro Devices News

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

• Positive Sentiment: AMD is being viewed as a major AI beneficiary, with articles highlighting rising demand for its Instinct GPUs, EPYC CPUs, and rack-scale AI infrastructure products. OneQode to Deploy AMD Instinct GPUs and Plans for AMD Helios Rack-Scale Solution for Global AI Infrastructure
• Positive Sentiment: Wall Street appears to be raising its long-term expectations for AMD, with fresh commentary about a possible path to a $1 trillion market cap and higher price targets from analysts. What Will It Take for AMD’s Market Cap to Hit $1 Trillion?
• Positive Sentiment: Sector-wide strength is also helping AMD, as investors rotate into AI chip stocks beyond Nvidia and bid up semiconductor names broadly. Why Qualcomm, AMD, Intel, other AI stocks are surging sharply on Tuesday
• Neutral Sentiment: Some commentary is more cautionary, noting that momentum in AMD and other chip stocks could eventually face valuation pressure after a strong run. Intel, AMD, and Other Momentum Stocks Look Unstoppable. Look Again.
• Negative Sentiment: There is also competitive concern in the background, with one article arguing Nvidia could pressure AMD in CPUs and related AI markets, which could temper upside if competition intensifies. Nvidia Vs. AMD: Nvidia Will Eat AMD's CPU Lunch

Advanced Micro Devices Price Performance

AMD stock opened at $503.89 on Wednesday. The stock has a 50-day moving average price of $309.03 and a two-hundred day moving average price of $250.05. The stock has a market cap of $821.64 billion, a PE ratio of 165.21, a price-to-earnings-growth ratio of 1.37 and a beta of 2.40. 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, Inc. has a 1 year low of $108.62 and a 1 year high of $506.96.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share (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 analysts' expectations of $9.90 billion. Advanced Micro Devices had a return on equity of 9.55% and a net margin of 13.37%.The company's revenue was up 37.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.96 EPS. Equities analysts forecast that Advanced Micro Devices, Inc. will post 6.2 EPS for the current fiscal year.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 31,320 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president owned 1,236,037 shares in the company, valued at approximately $432,612,950. This represents a 2.47% decrease in their position. 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, EVP Paul Darren Grasby sold 24,376 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $444.39, for a total value of $10,832,450.64. Following the transaction, the executive vice president owned 105,222 shares of the company's stock, valued at approximately $46,759,604.58. This trade represents a 18.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 329,085 shares of company stock worth $114,051,007 in the last 90 days. Company insiders own 0.50% of the company's stock.

Advanced Micro Devices 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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