Caldwell Trust Co Boosts Holdings in Advanced Micro Devices, Inc. $AMD

Caldwell Trust Co lifted its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 14.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 8,959 shares of the semiconductor manufacturer’s stock after buying an additional 1,151 shares during the period. Caldwell Trust Co’s holdings in Advanced Micro Devices were worth $1,823,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Advanced Micro Devices by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 158,522,860 shares of the semiconductor manufacturer’s stock valued at $33,949,256,000 after purchasing an additional 2,525,109 shares during the period. State Street Corp grew its stake in shares of Advanced Micro Devices by 1.5% in the fourth quarter. State Street Corp now owns 74,919,276 shares of the semiconductor manufacturer’s stock worth $16,044,712,000 after acquiring an additional 1,094,835 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Advanced Micro Devices by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 37,584,845 shares of the semiconductor manufacturer’s stock valued at $8,015,897,000 after acquiring an additional 287,525 shares in the last quarter. Norges Bank purchased a new position in shares of Advanced Micro Devices in the 4th quarter worth about $4,929,312,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Advanced Micro Devices by 0.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,325,288 shares of the semiconductor manufacturer’s stock worth $4,352,864,000 after purchasing an additional 55,969 shares during the last quarter. 71.34% of the stock is owned by institutional investors.

Insider Activity at Advanced Micro Devices

In other news, Director Nora Denzel sold 8,626 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $522.00, for a total transaction of $4,502,772.00. Following the sale, the director directly owned 87,173 shares of the company’s stock, valued at $45,504,306. This represents a 9.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paul Darren Grasby sold 24,376 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $444.39, for a total value of $10,832,450.64. Following 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 378,032 shares of company stock valued at $161,876,596 in the last 90 days. 0.50% of the stock is currently owned by insiders.

Advanced Micro Devices Stock Performance

NASDAQ:AMD opened at $521.58 on Friday. The company has a current ratio of 2.72, a quick ratio of 1.96 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average price of $445.21 and a 200 day moving average price of $296.11. Advanced Micro Devices, Inc. has a 12-month low of $133.50 and a 12-month high of $562.99. The stock has a market capitalization of $850.49 billion, a P/E ratio of 171.01, a P/E/G ratio of 1.54 and a beta of 2.50.

Advanced Micro Devices (NASDAQ:AMD) 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. The company had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $9.90 billion. Advanced Micro Devices had a net margin of 13.37% and a return on equity of 9.55%. Advanced Micro Devices’s revenue for the quarter was up 37.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.96 EPS. Equities research analysts forecast that Advanced Micro Devices, Inc. will post 6.15 EPS for the current fiscal year.

Advanced Micro Devices News Summary

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.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Raymond James Financial initiated coverage on shares of Advanced Micro Devices in a report on Wednesday, May 6th. They set a “market perform” rating on the stock. Stifel Nicolaus upped their price objective on Advanced Micro Devices from $320.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Loop Capital upgraded Advanced Micro Devices to a “strong-buy” rating in a research note on Tuesday, June 16th. Sanford C. Bernstein set a $600.00 target price on Advanced Micro Devices and gave the stock an “outperform” rating in a report on Wednesday, June 17th. Finally, Weiss Ratings raised Advanced Micro Devices from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Advanced Micro Devices has a consensus rating of “Moderate Buy” and an average price target of $440.41.

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.