William Blair Investment Management LLC Purchases 292,346 Shares of Advanced Micro Devices, Inc. $AMD

Key Points

• William Blair Investment Management increased its AMD stake by 27.9% in the fourth quarter, buying 292,346 more shares and bringing its total holding to 1.34 million shares worth about $286.9 million.
• AMD reported strong quarterly results, with EPS of $1.37 beating estimates and revenue of $10.25 billion topping expectations, while revenue rose 37.8% year over year.
• Despite the strong fundamentals, insider selling has been notable: CEO Lisa Su and EVP Mark Papermaster sold shares, and analysts currently rate the stock a consensus Moderate Buy with a $410 target price.

William Blair Investment Management LLC boosted its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 27.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,339,546 shares of the semiconductor manufacturer's stock after acquiring an additional 292,346 shares during the quarter. Advanced Micro Devices accounts for 0.8% of William Blair Investment Management LLC's holdings, making the stock its 20th largest holding. William Blair Investment Management LLC owned 0.08% of Advanced Micro Devices worth $286,877,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Impax Asset Management Group plc increased its stake in Advanced Micro Devices by 326.5% in the third quarter. Impax Asset Management Group plc now owns 52,068 shares of the semiconductor manufacturer's stock valued at $8,424,000 after acquiring an additional 39,861 shares during the last quarter. Zweig DiMenna Associates LLC increased its stake in Advanced Micro Devices by 127.6% in the third quarter. Zweig DiMenna Associates LLC now owns 72,602 shares of the semiconductor manufacturer's stock valued at $11,746,000 after acquiring an additional 40,708 shares during the last quarter. Wedbush Securities Inc. increased its stake in Advanced Micro Devices by 7.8% in the third quarter. Wedbush Securities Inc. now owns 84,256 shares of the semiconductor manufacturer's stock valued at $13,632,000 after acquiring an additional 6,095 shares during the last quarter. WealthPlan Investment Management LLC increased its stake in Advanced Micro Devices by 338.5% in the fourth quarter. WealthPlan Investment Management LLC now owns 6,157 shares of the semiconductor manufacturer's stock valued at $1,319,000 after acquiring an additional 4,753 shares during the last quarter. Finally, Highline Wealth Partners LLC increased its stake in Advanced Micro Devices by 4,891.6% in the fourth quarter. Highline Wealth Partners LLC now owns 8,286 shares of the semiconductor manufacturer's stock valued at $1,775,000 after acquiring an additional 8,120 shares during the last quarter. 71.34% of the stock is owned by institutional investors.

Advanced Micro Devices Stock Performance

Shares of Advanced Micro Devices stock opened at $467.51 on Friday. The firm has a market capitalization of $762.32 billion, a P/E ratio of 153.28, a P/E/G ratio of 1.37 and a beta of 2.40. The company's 50 day moving average price is $297.43 and its two-hundred day moving average price is $246.86. 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, Inc. has a fifty-two week low of $107.67 and a fifty-two week high of $481.41.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings data 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 net margin of 13.37% and a return on equity of 9.55%. The company had revenue of $10.25 billion for the quarter, compared to analysts' expectations of $9.90 billion. During the same quarter in the previous year, the firm posted $0.96 earnings per share. Advanced Micro Devices's revenue for the quarter was up 37.8% on a year-over-year basis. On average, equities analysts forecast that Advanced Micro Devices, Inc. will post 6.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Advanced Micro Devices

In related news, CEO Lisa T. Su sold 125,000 shares of the business's stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $445.51, for a total value of $55,688,750.00. Following the sale, the chief executive officer owned 3,021,899 shares of the company's stock, valued at $1,346,286,223.49. The trade was a 3.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark D. Papermaster sold 31,320 shares of the business's stock in a transaction on Friday, April 24th. The stock was sold at an average price of $350.00, for a total transaction of $10,962,000.00. Following the completion of the sale, the executive vice president directly owned 1,236,037 shares in the company, valued at approximately $432,612,950. This represents a 2.47% 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 ninety days, insiders sold 329,085 shares of company stock worth $114,051,007. Company insiders own 0.50% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AMD. Seaport Research Partners upgraded shares of Advanced Micro Devices from a "neutral" rating to a "buy" rating and set a $430.00 target price on the stock in a research report on Wednesday, May 6th. Raymond James Financial began coverage on shares of Advanced Micro Devices in a research report on Wednesday, May 6th. They issued a "market perform" rating on the stock. Citigroup raised their target price on shares of Advanced Micro Devices from $358.00 to $460.00 and gave the company a "neutral" rating in a research report on Monday, May 18th. Phillip Securities upgraded shares of Advanced Micro Devices from a "moderate buy" rating to a "strong-buy" rating in a research report on Sunday, February 8th. Finally, Rosenblatt Securities raised their target price on shares of Advanced Micro Devices from $300.00 to $490.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $410.00.

Advanced Micro Devices News Roundup

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

• Positive Sentiment: CEO Lisa Su said AMD expects strong CPU growth over the next five years, helping fuel optimism about long-term demand for its data center chips. AMD Stock Rallies as Lisa Su Expects CPU Growth of ‘35% Each Year’ for the Next 5 Years
• Positive Sentiment: AMD began ramping production of its “Venice” EPYC CPUs on TSMC’s 2nm node, a major manufacturing milestone that supports its AI and server growth story. AMD Announces Production Ramp of Next-Generation AMD EPYC Processor “Venice” on TSMC 2nm Process Technology
• Positive Sentiment: AMD announced more than $10 billion of investment across Taiwan’s AI ecosystem to expand advanced packaging capacity and support future AI deployments, including the Helios rack-scale platform. AMD Announces More Than $10 Billion in Taiwan Ecosystem Investments to Accelerate AI Infrastructure
• Positive Sentiment: Nvidia’s strong AI commentary and broader chip-sector momentum are boosting confidence that AMD will benefit from continued AI infrastructure spending. AMD Stock (AMD) Hits All-Time High as Nvidia Earnings Boost Confidence in the AI Trade
• Neutral Sentiment: Some commentary suggests AMD’s sharp rally has already priced in a lot of good news, so investors may continue debating valuation after the recent run-up. After a Q1 Blowout and a Soaring Share Price, Is AMD Stock Still a Buy?

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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