Smithbridge Asset Management Inc. DE Invests $3.02 Million in Advanced Micro Devices, Inc. $AMD

Key Points

• Smithbridge Asset Management disclosed a new first-quarter position in Advanced Micro Devices, buying 14,859 shares worth about $3.02 million.
• AMD continues to attract bullish analyst support, with several firms raising price targets on expectations for strong AI and data center demand. UBS was among the most aggressive, lifting its target to $670 and maintaining a buy rating.
• The company’s latest earnings were solid, with EPS of $1.37 and revenue of $10.25 billion, both above estimates and up sharply year over year. Even so, the stock pulled back after a strong AI-driven run, and insiders also reported notable share sales.

Smithbridge Asset Management Inc. DE bought a new position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 14,859 shares of the semiconductor manufacturer's stock, valued at approximately $3,023,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Joseph Group Capital Management bought a new stake in Advanced Micro Devices during the fourth quarter worth about $25,000. Sarver Vrooman Wealth Advisors bought a new position in shares of Advanced Micro Devices in the fourth quarter valued at approximately $27,000. Cornerstone Financial Management LLC acquired a new position in shares of Advanced Micro Devices in the 4th quarter worth approximately $27,000. Basepoint Wealth LLC acquired a new position in shares of Advanced Micro Devices in the 4th quarter worth approximately $30,000. Finally, Delos Wealth Advisors LLC boosted its holdings in shares of Advanced Micro Devices by 100.0% in the 3rd quarter. Delos Wealth Advisors LLC now owns 200 shares of the semiconductor manufacturer's stock worth $32,000 after acquiring an additional 100 shares in the last quarter. 71.34% of the stock is owned by institutional investors.

Key Advanced Micro Devices News

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

• Positive Sentiment: Wall Street remains bullish on AMD, with multiple analysts lifting price targets on strong AI-driven data center and server CPU demand, including Wells Fargo’s raise to $615 and other recent hikes. This Analyst Just Raised the Price Target on AMD Stock. Here's Why.
• Positive Sentiment: AMD’s AI and data center story is still expanding, including new Versal Premium Gen 2 chips aimed at compact AI, networking, defense and video systems. AMD Expands AI Reach With Versal Premium Gen 2 MoP SoCs: What's Ahead?
• Positive Sentiment: The company is still getting support from bullish commentary that highlights AMD as a key beneficiary of AI infrastructure spending and a rising competitor in the AI CPU market. Micron, Intel and AMD add $2 trillion in value in Q2 rally
• Neutral Sentiment: AMD also boosted executive pay to help retain leadership, a governance move that is not likely to be a major near-term driver for the stock. AMD Boosts Executive Pay to Support Leadership Retention
• Negative Sentiment: AMD is giving back some of its recent gains as investors lock in profits after an extraordinary AI-led surge and a new high, while broader chip stocks also retreat. Advanced Micro Devices (AMD) Dips More Than Broader Market: What You Should Know
• Negative Sentiment: Some market coverage is warning that the semiconductor rally may be getting overheated, with valuation concerns and “bubble risk” weighing on sentiment across the sector. Bank of America warns of tougher stock market in near future

Insider Activity

In other Advanced Micro Devices news, EVP Paul Darren Grasby sold 24,376 shares of the business's 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 completion of the transaction, the executive vice president directly owned 105,222 shares of the company's stock, valued at approximately $46,759,604.58. The trade was a 18.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Forrest Eugene Norrod sold 19,487 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $431.40, for a total value of $8,406,691.80. Following the completion of the sale, the executive vice president owned 324,527 shares of the company's stock, valued at $140,000,947.80. This trade represents a 5.66% 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. In the last quarter, insiders sold 378,032 shares of company stock valued at $161,876,596. Company insiders own 0.50% of the company's stock.

Advanced Micro Devices Stock Down 6.9%

Shares of Advanced Micro Devices stock opened at $540.88 on Thursday. The company has a quick ratio of 1.96, a current ratio of 2.72 and a debt-to-equity ratio of 0.04. The stock has a market cap of $881.96 billion, a PE ratio of 177.34, a price-to-earnings-growth ratio of 1.71 and a beta of 2.47. The business has a fifty day simple moving average of $461.80 and a 200 day simple moving average of $303.66. Advanced Micro Devices, Inc. has a 12 month low of $133.50 and a 12 month high of $584.73.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share (EPS) for the quarter, beating 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 company had revenue of $10.25 billion during the quarter, compared to analyst estimates of $9.90 billion. During the same quarter in the previous year, the business earned $0.96 EPS. The firm's revenue was up 37.8% on a year-over-year basis. Research analysts predict that Advanced Micro Devices, Inc. will post 6.15 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AMD. Loop Capital raised Advanced Micro Devices to a "strong-buy" rating in a report on Tuesday, June 16th. DA Davidson boosted their price objective on Advanced Micro Devices from $375.00 to $425.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Raymond James Financial initiated coverage on Advanced Micro Devices in a report on Wednesday, May 6th. They set a "market perform" rating on the stock. UBS Group raised their target price on Advanced Micro Devices from $455.00 to $670.00 and gave the company a "buy" rating in a research note on Wednesday, June 24th. Finally, Melius Research set a $540.00 price target on Advanced Micro Devices in a report on Monday, May 18th. Two analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Advanced Micro Devices presently has an average rating of "Moderate Buy" and an average price target of $448.78.

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.

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