Wesbanco Bank Inc. Sells 10,488 Shares of Advanced Micro Devices, Inc. $AMD

Key Points

• Wesbanco Bank Inc. reduced its AMD stake by 7.2% in the first quarter, selling 10,488 shares and leaving it with 134,497 shares worth about $27.4 million.
• Institutional ownership remains high, with 71.34% of AMD shares held by institutional investors, while several other funds also made small additions to their positions.
• Analyst sentiment is still broadly positive: multiple firms raised price targets recently, and AMD has a consensus rating of Moderate Buy with an average price target of $440.41, even as some commentary warns about valuation after the stock’s strong run.

Wesbanco Bank Inc. trimmed its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 7.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 134,497 shares of the semiconductor manufacturer's stock after selling 10,488 shares during the quarter. Advanced Micro Devices makes up 0.8% of Wesbanco Bank Inc.'s holdings, making the stock its 29th biggest position. Wesbanco Bank Inc.'s holdings in Advanced Micro Devices were worth $27,361,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMD. Focused Wealth Management Inc lifted its stake in Advanced Micro Devices by 2.7% in the first quarter. Focused Wealth Management Inc now owns 1,431 shares of the semiconductor manufacturer's stock valued at $291,000 after purchasing an additional 37 shares during the last quarter. James J. Burns & Company LLC grew its holdings in Advanced Micro Devices by 2.3% during the fourth quarter. James J. Burns & Company LLC now owns 1,816 shares of the semiconductor manufacturer's stock valued at $389,000 after purchasing an additional 40 shares during the period. Cassaday & Co Wealth Management LLC increased its position in Advanced Micro Devices by 0.9% in the fourth quarter. Cassaday & Co Wealth Management LLC now owns 4,912 shares of the semiconductor manufacturer's stock worth $1,052,000 after buying an additional 43 shares during the last quarter. Willis Johnson & Associates Inc. increased its position in Advanced Micro Devices by 1.9% in the fourth quarter. Willis Johnson & Associates Inc. now owns 2,304 shares of the semiconductor manufacturer's stock worth $493,000 after buying an additional 44 shares during the last quarter. Finally, Smith Moore & CO. raised its stake in shares of Advanced Micro Devices by 1.1% in the third quarter. Smith Moore & CO. now owns 3,962 shares of the semiconductor manufacturer's stock valued at $641,000 after buying an additional 45 shares during the period. 71.34% of the stock is owned by institutional investors.

Key Headlines Impacting 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.

Insider Activity at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 19,487 shares of the stock in a transaction 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 sale, the executive vice president directly owned 324,527 shares in the company, valued at approximately $140,000,947.80. This trade represents a 5.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Paul Darren Grasby sold 24,376 shares of the business's stock in a transaction on 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 owned 105,222 shares of the company's stock, valued at $46,759,604.58. This represents a 18.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 378,032 shares of company stock valued at $161,876,596 over the last ninety days. Corporate insiders own 0.50% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on AMD shares. Benchmark lifted their price objective on Advanced Micro Devices from $325.00 to $485.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. DA Davidson upped their price objective on shares of Advanced Micro Devices from $375.00 to $425.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Sanford C. Bernstein set a $600.00 price objective on shares of Advanced Micro Devices and gave the company an "outperform" rating in a report on Wednesday, June 17th. Stifel Nicolaus increased their target price on shares of Advanced Micro Devices from $320.00 to $450.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Finally, Oppenheimer downgraded shares of Advanced Micro Devices from a "market perform" rating to a "market perform" rating in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $440.41.

Advanced Micro Devices Price Performance

AMD opened at $521.58 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.96 and a current ratio of 2.72. The stock has a market capitalization of $850.49 billion, a PE ratio of 171.01, a price-to-earnings-growth ratio of 1.57 and a beta of 2.50. The stock's 50 day moving average price is $445.21 and its 200-day moving average price is $296.11. Advanced Micro Devices, Inc. has a 52-week low of $133.50 and a 52-week high of $562.99.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share 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 company had revenue of $10.25 billion for the quarter, compared to analysts' expectations of $9.90 billion. During the same period in the prior year, the firm earned $0.96 earnings per share. The firm's revenue for the quarter was up 37.8% on a year-over-year basis. On average, equities research analysts predict 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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