Swedbank AB Raises Stock Holdings in Advanced Micro Devices, Inc. $AMD

Key Points

• Swedbank AB boosted its AMD stake by 37.5% in the first quarter, adding 913,055 shares and bringing its total holding to 3,346,527 shares worth about $680.8 million.
• Analyst sentiment remains upbeat, with several firms raising price targets and ratings; AMD now carries a consensus “Moderate Buy” and an average target price of $453.92.
• AMD posted solid quarterly results, beating earnings and revenue estimates with $1.37 EPS and $10.25 billion in revenue, while sales jumped 37.8% year over year.

Swedbank AB raised its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 37.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,346,527 shares of the semiconductor manufacturer's stock after purchasing an additional 913,055 shares during the quarter. Advanced Micro Devices accounts for 0.7% of Swedbank AB's portfolio, making the stock its 27th largest position. Swedbank AB owned 0.21% of Advanced Micro Devices worth $680,784,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Joseph Group Capital Management purchased a new position in shares of Advanced Micro Devices during the 4th quarter valued at approximately $25,000. Sarver Vrooman Wealth Advisors bought a new stake in shares of Advanced Micro Devices in the fourth quarter worth $27,000. Cornerstone Financial Management LLC acquired a new position in Advanced Micro Devices during the 4th quarter worth $27,000. Basepoint Wealth LLC acquired a new position in Advanced Micro Devices during the 4th quarter worth $30,000. Finally, Delos Wealth Advisors LLC increased its position 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 purchasing an additional 100 shares during the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AMD. Wolfe Research set a $450.00 target price on shares of Advanced Micro Devices and gave the company an "outperform" rating in a research note on Monday, June 15th. Needham & Company LLC upgraded Advanced Micro Devices to a "buy" rating in a research note on Wednesday, May 6th. Cantor Fitzgerald boosted their price objective on Advanced Micro Devices from $500.00 to $700.00 and gave the company an "overweight" rating in a report on Monday, June 29th. The Goldman Sachs Group upped their price objective on Advanced Micro Devices from $450.00 to $640.00 and gave the company a "buy" rating in a research note on Monday. Finally, Benchmark increased their target price on Advanced Micro Devices from $325.00 to $485.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. Two research 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 company's stock. Based on data from MarketBeat.com, Advanced Micro Devices has an average rating of "Moderate Buy" and a consensus target price of $453.92.

Advanced Micro Devices News Roundup

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

• Positive Sentiment: Wall Street analysts remain constructive on AMD, with Goldman Sachs and Wells Fargo recently raising price targets on expectations for strong server CPU demand, pricing power, and continued AI-related growth. AMD, Nvidia, Micron, Oracle, Dell, Intel, and More Stocks That Explain Today’s Market
• Positive Sentiment: AMD also gained a new AI-use-case catalyst after Turing said it is adopting AMD GPUs for part of its self-driving AI training, which expands AMD beyond data centers and gaming into autonomous vehicles. AMD Gains AI Customer as $600 Million Self-Driving Startup Adopts Its GPUs
• Neutral Sentiment: Recent articles also highlighted AMD’s rapid share-price gains and its approach toward a possible $1 trillion valuation, but these pieces were mostly commentary on momentum rather than new fundamental news. AMD Is 11% Away From Joining the $1 Trillion Club. Could It Get There This Year?
• Negative Sentiment: The main drag today is a broader chip-stock selloff, with AMD falling alongside peers like Nvidia and Intel as investors worry the AI rally is stalling and trading sentiment in semiconductors turns risk-off. Intel and Applied Materials Dive 10%, AMD Craters 8% as Samsung Earnings Trigger Chip Selloff
• Negative Sentiment: Cathie Wood’s ARK Invest sold about $8 million of AMD shares, adding to some near-term caution even as analyst sentiment remains upbeat. AMD Stock: Cathie Wood Sells $8M in AMD Despite Growing Analyst Optimism

Insiders Place Their Bets

In related news, EVP Forrest Eugene Norrod sold 19,487 shares of the business's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $431.40, for a total transaction of $8,406,691.80. Following the completion of the transaction, the executive vice president owned 324,527 shares in the company, valued at $140,000,947.80. The trade was a 5.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark D. Papermaster sold 6,000 shares of the business's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $536.33, for a total value of $3,217,980.00. Following the transaction, the executive vice president owned 1,233,687 shares of the company's stock, valued at $661,663,348.71. This represents a 0.48% decrease in their position. 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 have sold 374,739 shares of company stock worth $161,135,671. 0.50% of the stock is currently owned by insiders.

Advanced Micro Devices Stock Performance

Shares of NASDAQ:AMD traded down $41.27 during trading on Tuesday, reaching $510.78. 11,736,132 shares of the company's stock traded hands, compared to its average volume of 37,292,695. The stock has a market capitalization of $832.87 billion, a P/E ratio of 167.74, a price-to-earnings-growth ratio of 1.53 and a beta of 2.47. Advanced Micro Devices, Inc. has a 12 month low of $135.91 and a 12 month high of $584.73. The company has a 50 day moving average of $470.75 and a 200-day moving average of $308.01. 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 EPS for the quarter, beating analysts' consensus estimates of $1.29 by $0.08. The company had revenue of $10.25 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 37.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.96 earnings per share. On average, equities analysts expect that Advanced Micro Devices, Inc. will post 6.15 EPS for the current 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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