Wesbanco Bank Inc. Trims Stock Holdings in Advanced Micro Devices, Inc. $AMD

Key Points

• Wesbanco Bank cut its Advanced Micro Devices stake by 10.8% in the fourth quarter, selling 17,593 shares and leaving it with 144,985 shares valued at about $31.1 million.
• AMD insiders have been selling shares, including CEO Lisa Su and EVP Paul Darren Grasby, with $70.1 million worth of stock sold over the last 90 days.
• Wall Street remains bullish on AMD after its latest earnings beat and strong data-center/AI demand, with multiple firms raising price targets and analysts setting a consensus “Moderate Buy” rating.

Wesbanco Bank Inc. trimmed its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 10.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 144,985 shares of the semiconductor manufacturer's stock after selling 17,593 shares during the quarter. Advanced Micro Devices makes up about 0.9% of Wesbanco Bank Inc.'s portfolio, making the stock its 19th biggest position. Wesbanco Bank Inc.'s holdings in Advanced Micro Devices were worth $31,050,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMD. Brighton Jones LLC raised its holdings in shares of Advanced Micro Devices by 178.2% in the fourth quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer's stock worth $5,551,000 after buying an additional 29,438 shares during the period. Revolve Wealth Partners LLC raised its holdings in shares of Advanced Micro Devices by 2.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer's stock worth $1,001,000 after buying an additional 234 shares during the period. Sivia Capital Partners LLC increased its holdings in Advanced Micro Devices by 125.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 5,344 shares of the semiconductor manufacturer's stock worth $758,000 after purchasing an additional 2,970 shares during the period. United Bank increased its holdings in Advanced Micro Devices by 22.0% during the 2nd quarter. United Bank now owns 13,255 shares of the semiconductor manufacturer's stock worth $1,881,000 after purchasing an additional 2,392 shares during the period. Finally, Schnieders Capital Management LLC. increased its holdings in Advanced Micro Devices by 361.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 9,230 shares of the semiconductor manufacturer's stock worth $1,310,000 after purchasing an additional 7,228 shares during the period. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Paul Darren Grasby sold 7,500 shares of Advanced Micro Devices stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $204.87, for a total value of $1,536,525.00. Following the transaction, the executive vice president directly owned 129,598 shares in the company, valued at approximately $26,550,742.26. This trade represents a 5.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Lisa T. Su sold 125,000 shares of Advanced Micro Devices stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $214.36, for a total value of $26,795,000.00. Following the completion of the transaction, the chief executive officer owned 3,152,476 shares in the company, valued at $675,764,755.36. This represents a 3.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 304,672 shares of company stock valued at $70,135,070. 0.50% of the stock is owned by insiders.

More Advanced Micro Devices News

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

• Positive Sentiment: AMD’s latest earnings and guidance continue to fuel the rally, with the company beating expectations and highlighting strong data-center/AI demand. AMD, Micron shares surge on a big day for chip-sector outperformance
• Positive Sentiment: Analysts are getting more bullish after earnings, including new or raised price targets and higher EPS estimates that suggest further upside if AI server CPU demand stays strong. As CPUs Steal the Show, AMD Stock Just Got a New Street-High Price Target
• Positive Sentiment: Wall Street commentary suggests the AI opportunity is broadening from GPUs to CPUs, which helps position AMD as a key beneficiary of the next phase of AI infrastructure spending. Wall Street sees 'changing of the guard in AI' as Intel, AMD shares soar while Nvidia lags
• Neutral Sentiment: Coverage also notes that AMD shares are drawing attention from traders and momentum investors after the stock’s sharp run, which could keep volatility elevated. What Is AMD Stock’s Minimum & Maximum Potential After Earnings?
• Negative Sentiment: Some investors are locking in gains after the huge rally, including Cathie Wood/ARK trimming AMD holdings, which may cap near-term upside. Cathie Wood Dumps More AMD Shares Despite Its Massive 108% Rally. Here's Why.

Analysts Set New Price Targets

Several research firms have commented on AMD. Weiss Ratings upgraded Advanced Micro Devices from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday. Cantor Fitzgerald raised their price objective on Advanced Micro Devices to $500.00 and gave the stock an "overweight" rating in a report on Wednesday. Oppenheimer downgraded Advanced Micro Devices from a "market perform" rating to a "market perform" rating in a report on Wednesday. Truist Financial set a $478.00 price objective on Advanced Micro Devices in a report on Wednesday. Finally, Rosenblatt Securities raised their price objective on Advanced Micro Devices from $300.00 to $490.00 and gave the stock a "buy" rating in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $388.84.

Advanced Micro Devices Trading Up 11.4%

Shares of NASDAQ:AMD opened at $455.19 on Friday. Advanced Micro Devices, Inc. has a 12-month low of $101.60 and a 12-month high of $456.29. The business's fifty day simple moving average is $243.98 and its 200-day simple moving average is $231.76. The company has a market capitalization of $742.23 billion, a PE ratio of 149.24, a P/E/G ratio of 1.26 and a beta of 2.40. The company has a current ratio of 2.72, a quick ratio of 2.01 and a debt-to-equity ratio of 0.04.

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 analysts' consensus estimates 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 the consensus estimate of $9.90 billion. During the same period last year, the business posted $0.96 EPS. The business's revenue was up 37.8% compared to the same quarter last year. As a group, equities research analysts predict that Advanced Micro Devices, Inc. will post 5.95 earnings per share for the current fiscal year.

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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