Patriot Financial Group Insurance Agency LLC Grows Holdings in Advanced Micro Devices, Inc. $AMD

Key Points

• Patriot Financial Group Insurance Agency LLC boosted its AMD stake by 107.5% in the first quarter, ending with 35,172 shares valued at about $7.16 million.
• AMD has seen continued institutional and insider activity: several hedge funds increased holdings, while executives Paul Darren Grasby and Mark D. Papermaster sold shares in recent transactions.
• The company’s fundamentals and outlook remain strong, with Q1 earnings and revenue beating estimates and analysts largely maintaining bullish views; however, the stock was recently down 2.1% amid valuation concerns and sector weakness.

Patriot Financial Group Insurance Agency LLC increased its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 107.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,172 shares of the semiconductor manufacturer's stock after acquiring an additional 18,222 shares during the quarter. Patriot Financial Group Insurance Agency LLC's holdings in Advanced Micro Devices were worth $7,155,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC lifted its holdings in shares of Advanced Micro Devices by 178.2% during the fourth quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer's stock valued at $5,551,000 after purchasing an additional 29,438 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in shares of Advanced Micro Devices by 2.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer's stock worth $1,001,000 after buying an additional 234 shares during the last quarter. Sivia Capital Partners LLC increased its position in Advanced Micro Devices by 125.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 5,344 shares of the semiconductor manufacturer's stock valued at $758,000 after buying an additional 2,970 shares in the last quarter. United Bank increased its position in Advanced Micro Devices by 22.0% during the 2nd quarter. United Bank now owns 13,255 shares of the semiconductor manufacturer's stock valued at $1,881,000 after buying an additional 2,392 shares in the last quarter. Finally, Schnieders Capital Management LLC. raised its stake in Advanced Micro Devices by 361.0% during the second quarter. Schnieders Capital Management LLC. now owns 9,230 shares of the semiconductor manufacturer's stock valued at $1,310,000 after buying an additional 7,228 shares during the last quarter. Institutional investors own 71.34% of the company's stock.

Insider Activity

In other Advanced Micro Devices news, EVP Paul Darren Grasby sold 24,376 shares of the business's stock in a transaction on Friday, May 8th. The shares were 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 approximately $46,759,604.58. The trade was a 18.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark D. Papermaster sold 31,320 shares of the stock in a transaction on Friday, April 24th. The shares were sold at an average price of $350.00, for a total value of $10,962,000.00. Following the transaction, the executive vice president directly owned 1,236,037 shares in the company, valued at $432,612,950. The trade was a 2.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 378,032 shares of company stock valued at $161,876,596 over the last three months. Corporate insiders own 0.50% of the company's stock.

Trending Headlines about Advanced Micro Devices

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

• Positive Sentiment: Wall Street sentiment remains upbeat, with multiple analysts raising AMD price targets in June, including a street-high call from UBS, as firms increasingly view AMD as a bigger player in AI infrastructure and data center CPUs.
• Positive Sentiment: AMD continues to gain credibility in enterprise AI, including recognition from Gartner as a leading server CPU company, which supports the long-term growth case for its data center business. Article Title
• Positive Sentiment: New business wins are also helping sentiment, including a definitive agreement with Rackspace Technology to deploy AMD-based infrastructure, reinforcing demand for AMD chips in cloud and enterprise workloads. Article Title
• Positive Sentiment: Several recent articles argue AMD still has meaningful upside as investors focus on its CPU and AI data center growth, with some bullish commentary suggesting the market may still be underappreciating its long-term earnings power.
• Neutral Sentiment: One recent piece highlighted both the positives and a caution on AMD, noting the stock’s huge six-month run and suggesting investors should stay aware of valuation risk after such a strong rally.
• Negative Sentiment: The semiconductor group has also been under pressure today, with AI chip names, including AMD, softening as momentum in the sector cools and investors rotate out of the space. Article Title
• Negative Sentiment: Bearish/neutral valuation commentary has also picked up, with some coverage questioning whether AMD’s rapid stock gains have already priced in a lot of future growth, which can weigh on the shares in the short term.

Advanced Micro Devices Trading Down 2.1%

Advanced Micro Devices stock opened at $521.58 on Friday. Advanced Micro Devices, Inc. has a one year low of $133.50 and a one year high of $562.99. The business's fifty day moving average is $445.21 and its 200 day moving average is $296.11. The stock has a market capitalization of $850.49 billion, a PE ratio of 171.01, a price-to-earnings-growth ratio of 1.54 and a beta of 2.50. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.72 and a quick ratio of 1.96.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its 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. The business had revenue of $10.25 billion during the quarter, compared to analyst estimates of $9.90 billion. Advanced Micro Devices had a return on equity of 9.55% and a net margin of 13.37%.Advanced Micro Devices's revenue was up 37.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.96 EPS. On average, sell-side analysts predict that Advanced Micro Devices, Inc. will post 6.15 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Rosenblatt Securities increased their target price on Advanced Micro Devices from $300.00 to $490.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. UBS Group lifted their price target on Advanced Micro Devices from $455.00 to $670.00 and gave the stock a "buy" rating in a research report on Wednesday. Jefferies Financial Group downgraded shares of Advanced Micro Devices from a "buy" rating to a "hold" rating in a research report on Wednesday, May 6th. Northland Securities restated a "market perform" rating and set a $260.00 price objective on shares of Advanced Micro Devices in a research note on Monday, April 27th. Finally, BTIG Research raised shares of Advanced Micro Devices to a "buy" rating in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $440.41.

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.