Central Pacific Bank Trust Division Has $6.16 Million Position in Advanced Micro Devices, Inc. $AMD

Central Pacific Bank Trust Division cut its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 15.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 10,601 shares of the semiconductor manufacturer’s stock after selling 1,941 shares during the period. Advanced Micro Devices comprises approximately 0.6% of Central Pacific Bank Trust Division’s holdings, making the stock its 26th largest position. Central Pacific Bank Trust Division’s holdings in Advanced Micro Devices were worth $6,158,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in AMD. Norges Bank bought a new stake in Advanced Micro Devices in the fourth quarter worth approximately $4,929,312,000. Jennison Associates LLC lifted its position in shares of Advanced Micro Devices by 181.6% during the 4th quarter. Jennison Associates LLC now owns 10,910,310 shares of the semiconductor manufacturer’s stock valued at $2,336,552,000 after acquiring an additional 7,035,991 shares during the period. Cardano Risk Management B.V. bought a new position in Advanced Micro Devices during the fourth quarter worth $1,000,783,000. Wellington Management Group LLP increased its stake in Advanced Micro Devices by 335.9% in the third quarter. Wellington Management Group LLP now owns 4,847,825 shares of the semiconductor manufacturer’s stock valued at $784,330,000 after purchasing an additional 3,735,807 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Advanced Micro Devices by 340.1% during the fourth quarter. Franklin Resources Inc. now owns 4,747,834 shares of the semiconductor manufacturer’s stock valued at $1,016,796,000 after purchasing an additional 3,669,054 shares during the period. Institutional investors own 71.34% of the company’s stock.

Trending Headlines about Advanced Micro Devices

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

• Positive Sentiment: AMD reported second-quarter adjusted EPS of $1.66, ahead of the $1.61 consensus estimate, while revenue rose 50.1% year over year to $11.54 billion, exceeding the $11.31 billion forecast. AMD Surpasses Q2 Earnings and Revenue Estimates
• Positive Sentiment: Data-center revenue reportedly more than doubled to a record $6.7 billion, reinforcing the AI-infrastructure growth story and AMD’s efforts to compete with Nvidia in GPUs, CPUs and rack-scale systems. AMD Revenue Climbs 50% and Data Center Sales Doubled
• Positive Sentiment: Third-quarter revenue guidance of $12.7 billion to $13.3 billion exceeded the approximately $12.4 billion analyst consensus, indicating continued demand for AI and data-center products. AMD Forecasts Upbeat Revenue on AI Data-Center Demand
• Neutral Sentiment: A broad risk-on rally lifted the semiconductor sector, with gains in Nvidia, Intel, Broadcom and Marvell providing a favorable backdrop for AMD before earnings. Chip Stocks Ride a Risk-On Rally
• Negative Sentiment: Investors viewed the quarterly beat as modest relative to AMD’s rally and valuation—roughly 170 times trailing earnings in the supplied data—raising concerns that expectations had already priced in exceptional execution. AMD Reported Record Sales but Stock Fell
• Negative Sentiment: Commentary also highlighted potentially “shocking” capital spending and continuing insider selling; data supplied by Quiver shows 99 insider sales and no purchases over the past six months. These signals may have amplified profit-taking after the release. AMD Stock Falls on Q2 Earnings

Insider Activity at Advanced Micro Devices

In other Advanced Micro Devices news, Director Nora Denzel sold 8,626 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $522.00, for a total value of $4,502,772.00. Following the completion of the sale, the director directly owned 87,173 shares of the company’s stock, valued at $45,504,306. This trade represents a 9.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Paul Darren Grasby sold 24,376 shares of the business’s stock in a transaction 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 completion of the sale, the executive vice president owned 105,222 shares in the company, valued at approximately $46,759,604.58. The trade was a 18.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 310,310 shares of company stock worth $141,185,456 over the last 90 days. Corporate insiders own 0.50% of the company’s stock.

Advanced Micro Devices Trading Up 7.0%

NASDAQ AMD opened at $518.58 on Wednesday. The business’s fifty day moving average is $516.06 and its 200-day moving average is $354.63. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.72 and a quick ratio of 1.96. The stock has a market capitalization of $845.60 billion, a price-to-earnings ratio of 170.03 and a beta of 2.48. Advanced Micro Devices, Inc. has a one year low of $149.22 and a one year high of $584.73.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, August 4th. The semiconductor manufacturer reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.04. The company had revenue of $11.54 billion during the quarter, compared to analyst estimates of $11.31 billion. Advanced Micro Devices had a net margin of 13.37% and a return on equity of 9.55%. The firm’s revenue for the quarter was up 50.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.48 earnings per share. Equities research analysts predict that Advanced Micro Devices, Inc. will post 6.27 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on AMD shares. KeyCorp reissued an “overweight” rating on shares of Advanced Micro Devices in a research note on Wednesday. Jefferies Financial Group raised their price objective on shares of Advanced Micro Devices from $515.00 to $640.00 and gave the company a “buy” rating in a research note on Friday, July 24th. HSBC cut shares of Advanced Micro Devices from a “buy” rating to a “hold” rating and lifted their price objective for the company from $335.00 to $340.00 in a report on Monday, May 4th. Sanford C. Bernstein set a $600.00 price target on shares of Advanced Micro Devices and gave the company an “outperform” rating in a research report on Wednesday, June 17th. Finally, Stifel Nicolaus lifted their price target on Advanced Micro Devices from $450.00 to $635.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $529.46.

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.