Pinnacle Wealth Management Advisory Group LLC Acquires 1,065 Shares of Advanced Micro Devices, Inc. $AMD

Key Points

• Pinnacle Wealth Management increased its AMD stake by 10.2% in the second quarter, purchasing 1,065 additional shares and bringing its holdings to 11,481 shares valued at approximately $6.67 million. Institutional investors collectively own 71.34% of AMD.
• Wall Street maintains a favorable view of AMD, with a consensus rating of “Moderate Buy” and an average price target of $557.62. Recent targets range from $540 to $700, although Zacks Research downgraded the stock to “hold.”
• AMD reported quarterly revenue of $11.54 billion, up 50.1% year over year, and earnings of $1.66 per share, exceeding estimates. The stock opened at $505.74, while insiders—including CEO Lisa Su and EVP Forrest Norrod—sold shares through pre-arranged trading plans.

Pinnacle Wealth Management Advisory Group LLC boosted its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 10.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,481 shares of the semiconductor manufacturer's stock after buying an additional 1,065 shares during the period. Pinnacle Wealth Management Advisory Group LLC's holdings in Advanced Micro Devices were worth $6,669,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Southpoint Capital Advisors LP boosted its holdings in shares of Advanced Micro Devices by 50.0% in the 1st quarter. Southpoint Capital Advisors LP now owns 900,000 shares of the semiconductor manufacturer's stock valued at $183,087,000 after buying an additional 300,000 shares in the last quarter. Jefferies Financial Group Inc. grew its position in shares of Advanced Micro Devices by 6,228.8% in the 4th quarter. Jefferies Financial Group Inc. now owns 308,021 shares of the semiconductor manufacturer's stock worth $65,966,000 after buying an additional 303,154 shares during the last quarter. Boomfish Wealth Group LLC bought a new position in shares of Advanced Micro Devices during the 1st quarter worth approximately $1,193,000. Dimensional Fund Advisors LP raised its stake in shares of Advanced Micro Devices by 6.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,142,516 shares of the semiconductor manufacturer's stock worth $1,045,954,000 after acquiring an additional 291,165 shares in the last quarter. Finally, Williamson Legacy Group LLC purchased a new stake in Advanced Micro Devices during the fourth quarter valued at approximately $1,118,000. Institutional investors own 71.34% of the company's stock.

Wall Street Analyst Weigh In

AMD has been the subject of several recent analyst reports. Zacks Research downgraded shares of Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 1st. Royal Bank Of Canada reiterated a "sector perform" rating and set a $540.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, August 5th. BMO Capital Markets started coverage on Advanced Micro Devices in a research report on Thursday, August 20th. They issued an "outperform" rating and a $550.00 price objective for the company. Rosenblatt Securities boosted their target price on Advanced Micro Devices from $665.00 to $700.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Finally, TD Cowen reaffirmed a "buy" rating on shares of Advanced Micro Devices in a research report on Wednesday, August 5th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $557.62.

Insiders Place Their Bets

In related news, EVP Forrest Norrod sold 17,261 shares of the stock in a transaction on Monday, August 24th. The shares were sold at an average price of $459.95, for a total transaction of $7,939,196.95. Following the sale, the executive vice president directly owned 373,317 shares of the company's stock, valued at approximately $171,707,154.15. This represents a 4.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lisa T. Su sold 15,000 shares of Advanced Micro Devices stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $480.94, for a total transaction of $7,214,100.00. Following the completion of the transaction, the chief executive officer directly owned 3,102,156 shares of the company's stock, valued at $1,491,950,906.64. The trade was a 0.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 107,577 shares of company stock worth $51,922,920. Corporate insiders own 0.50% of the company's stock.

Advanced Micro Devices Stock Up 5.9%

AMD stock opened at $505.74 on Wednesday. Advanced Micro Devices, Inc. has a 12 month low of $149.85 and a 12 month high of $584.73. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.61 and a quick ratio of 1.91. The company has a market capitalization of $825.61 billion, a P/E ratio of 130.01, a price-to-earnings-growth ratio of 4.95 and a beta of 2.48. The firm's fifty day simple moving average is $496.46 and its 200-day simple moving average is $398.67.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The semiconductor manufacturer reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.04. Advanced Micro Devices had a return on equity of 12.30% and a net margin of 15.58%.The company had revenue of $11.54 billion for the quarter, compared to the consensus estimate of $11.31 billion. During the same period last year, the firm earned $0.48 EPS. The firm's revenue for the quarter was up 50.1% compared to the same quarter last year. As a group, equities research analysts forecast that Advanced Micro Devices, Inc. will post 6.44 earnings per share for the current year.

Key Stories Impacting Advanced Micro Devices

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

• Positive Sentiment: AMD CFO Jean Hu raised the company’s estimated 2030 total addressable market to as much as $3 trillion, up from approximately $2 trillion. The company also increased its long-term server-CPU market estimate, reinforcing the bullish view of AI infrastructure demand. AMD Stock Rises as CFO Claims Its Addressable Market Could Reach $3 Trillion
• Positive Sentiment: Coverage highlights AMD’s growing presence in data centers through EPYC server CPUs, Instinct GPUs and Helios rack-scale systems. The company’s AI hardware and software push, along with its OpenAI GPU relationship, supports the possibility of faster growth relative to Nvidia over the next several years. Prediction: AMD Stock Could Outrun Nvidia Over the Next 3 Years
• Positive Sentiment: A newly discussed, high-end AI workstation capable of running very large models locally expands AMD’s opportunity beyond cloud providers and could appeal to enterprises with sensitive AI workloads. AMD Just Put 300 Billion-Parameter AI Models on a Desktop

Advanced Micro Devices Company Profile

Advanced Micro Devices, Inc NASDAQ: AMD is a semiconductor company that designs high-performance computing, graphics and adaptive-processing products. Its portfolio includes central processing units (CPUs), graphics processing units (GPUs), accelerated processing units (APUs), field-programmable gate arrays (FPGAs) and adaptive system-on-chip products.

AMD serves customers across data centers, cloud computing, personal computers, gaming consoles, embedded systems and industrial applications.

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.