PeakShares LLC Acquires New Holdings in Advanced Micro Devices, Inc. $AMD

Key Points

• PeakShares LLC opened a new position in Advanced Micro Devices during the fourth quarter, buying 7,092 shares valued at about $1.52 million. AMD now makes up 1.5% of the firm’s portfolio and is its 12th largest holding.
• Other major institutions also added to AMD, including Vanguard, State Street, Geode Capital, and Norges Bank, highlighting continued institutional interest. Overall, institutional investors own 71.34% of AMD’s shares.
• Recent news on AMD has been broadly positive, with Bernstein raising its price target to $600 and the company announcing a deal with Rackspace to deploy 30 MW of AMD-based AI compute. At the same time, some coverage warns the stock may be richly valued after a strong rally.

PeakShares LLC bought a new position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,092 shares of the semiconductor manufacturer's stock, valued at approximately $1,519,000. Advanced Micro Devices makes up 1.5% of PeakShares LLC's investment portfolio, making the stock its 12th biggest holding.

A number of other institutional investors have also recently bought and sold shares of AMD. Vanguard Group Inc. increased its position in shares of Advanced Micro Devices by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 158,522,860 shares of the semiconductor manufacturer's stock worth $33,949,256,000 after acquiring an additional 2,525,109 shares in the last quarter. State Street Corp raised its holdings in shares of Advanced Micro Devices by 1.5% during the fourth quarter. State Street Corp now owns 74,919,276 shares of the semiconductor manufacturer's stock worth $16,044,712,000 after acquiring an additional 1,094,835 shares during the period. Geode Capital Management LLC lifted its position in Advanced Micro Devices by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 37,584,845 shares of the semiconductor manufacturer's stock valued at $8,015,897,000 after acquiring an additional 287,525 shares in the last quarter. Norges Bank bought a new stake in Advanced Micro Devices in the 4th quarter valued at $4,929,312,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in Advanced Micro Devices by 0.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,325,288 shares of the semiconductor manufacturer's stock worth $4,352,864,000 after purchasing an additional 55,969 shares during the period. Institutional investors own 71.34% of the company's stock.

Key Advanced Micro Devices News

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

• Positive Sentiment: Bernstein raised its price target on AMD to $600, citing strong AI infrastructure demand and improving server-market conditions, reinforcing the bullish case for the stock. Why Is AMD Stock Gaining Thursday?
• Positive Sentiment: AMD and Rackspace signed a definitive agreement to deploy 30 MW of AMD-based AI compute across Rackspace’s data centers, a win that could expand AMD’s presence in regulated enterprise cloud workloads. Rackspace’s AI Land Grab: Plugging Into the Next Compute Boom (AMD)
• Positive Sentiment: AMD’s acquisition of MEXT is being viewed as strategically important because it could help address AI data-center memory bottlenecks and strengthen the company’s AI stack. AMD (AMD) Buys MEXT To Tackle AI Data Center Memory Bottlenecks
• Neutral Sentiment: Several analyst and investor articles continue to highlight AMD’s strong year-to-date rally, but also warn that the stock is trading near all-time highs and may be fully valued, which could temper upside near term. Buy, Hold, or Sell: AMD Rested Near All-Time Highs as Kevin Warsh Opened His First Fed Meeting. Is AMD Stock a Buy at $507?
• Neutral Sentiment: Market commentary from today also points to AMD as a preferred semiconductor alternative versus Intel, but the note is more about sector positioning than a direct company-specific catalyst. Analyst Warns Intel Valuation ‘Doesn't Make Sense.' Suggests NVIDIA, AMD, Micron, and Broadcom as Alternatives.
• Negative Sentiment: Some recent coverage warns AMD has likely risen too far, too fast, which could invite profit-taking if investors become more cautious about valuation. One Warning Signal AMD Investors Can't Miss

Insider Activity

In other news, Director Nora Denzel sold 8,626 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $522.00, for a total value of $4,502,772.00. Following the completion of the sale, the director owned 87,173 shares of the company's stock, valued at approximately $45,504,306. This represents a 9.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Lisa T. Su sold 125,000 shares of the firm's stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $460.69, for a total transaction of $57,586,250.00. Following the completion of the transaction, the chief executive officer directly owned 2,896,899 shares of the company's stock, valued at $1,334,572,400.31. This represents a 4.14% 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. Over the last three months, insiders have sold 378,032 shares of company stock worth $161,876,596. Corporate insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

AMD has been the subject of a number of research reports. Needham & Company LLC upgraded Advanced Micro Devices to a "buy" rating in a report on Wednesday, May 6th. Truist Financial set a $478.00 price target on Advanced Micro Devices in a report on Wednesday, May 6th. The Goldman Sachs Group raised Advanced Micro Devices from a "buy" rating to a "buy" rating in a research report on Friday, June 12th. Jefferies Financial Group downgraded Advanced Micro Devices from a "buy" rating to a "hold" rating in a report on Wednesday, May 6th. Finally, HSBC lowered Advanced Micro Devices from a "buy" rating to a "hold" rating and lifted their target price for the company from $335.00 to $340.00 in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $430.68.

Advanced Micro Devices Price Performance

Shares of NASDAQ AMD opened at $539.33 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.72 and a quick ratio of 1.96. The business has a 50-day moving average of $417.16 and a 200-day moving average of $285.22. The stock has a market capitalization of $879.43 billion, a price-to-earnings ratio of 176.83, a PEG ratio of 1.57 and a beta of 2.50. Advanced Micro Devices, Inc. has a fifty-two week low of $126.82 and a fifty-two week high of $558.37.

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 the consensus estimate of $1.29 by $0.08. Advanced Micro Devices had a return on equity of 9.55% and a net margin of 13.37%.The business had revenue of $10.25 billion for the quarter, compared to analyst estimates of $9.90 billion. During the same quarter in the prior year, the company posted $0.96 earnings per share. Advanced Micro Devices's revenue was up 37.8% on a year-over-year basis. As a group, sell-side analysts predict that Advanced Micro Devices, Inc. will post 6.2 earnings per share for the current fiscal year.

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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