Pictet Asset Management Holding SA Sells 431,356 Shares of Advanced Micro Devices, Inc. $AMD

Pictet Asset Management Holding SA decreased its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 18.5% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,904,241 shares of the semiconductor manufacturer’s stock after selling 431,356 shares during the period. Pictet Asset Management Holding SA’s holdings in Advanced Micro Devices were worth $387,322,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in AMD. Focused Wealth Management Inc increased its position in shares of Advanced Micro Devices by 2.7% during the first quarter. Focused Wealth Management Inc now owns 1,431 shares of the semiconductor manufacturer’s stock worth $291,000 after acquiring an additional 37 shares in the last quarter. James J. Burns & Company LLC raised its holdings in shares of Advanced Micro Devices by 2.3% in the 4th quarter. James J. Burns & Company LLC now owns 1,816 shares of the semiconductor manufacturer’s stock worth $389,000 after acquiring an additional 40 shares during the last quarter. Yoder Wealth Management Inc. lifted its position in Advanced Micro Devices by 3.7% in the 1st quarter. Yoder Wealth Management Inc. now owns 1,158 shares of the semiconductor manufacturer’s stock valued at $236,000 after acquiring an additional 41 shares in the last quarter. Cassaday & Co Wealth Management LLC boosted its stake in Advanced Micro Devices by 0.9% during the 4th quarter. Cassaday & Co Wealth Management LLC now owns 4,912 shares of the semiconductor manufacturer’s stock valued at $1,052,000 after purchasing an additional 43 shares during the last quarter. Finally, Willis Johnson & Associates Inc. boosted its stake in Advanced Micro Devices by 1.9% during the 4th quarter. Willis Johnson & Associates Inc. now owns 2,304 shares of the semiconductor manufacturer’s stock valued at $493,000 after purchasing an additional 44 shares during the last quarter. 71.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on AMD shares. TD Cowen increased their price objective on Advanced Micro Devices from $500.00 to $600.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. Needham & Company LLC raised Advanced Micro Devices to a “buy” rating in a research report on Wednesday, May 6th. Royal Bank Of Canada upped their price target on Advanced Micro Devices from $325.00 to $400.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 6th. Rosenblatt Securities increased their price target on Advanced Micro Devices from $300.00 to $490.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, Seaport Research Partners raised Advanced Micro Devices from a “neutral” rating to a “buy” rating and set a $430.00 price target for the company in a research report 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $440.41.

Advanced Micro Devices Stock Performance

NASDAQ:AMD opened at $521.58 on Friday. The company 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. The business has a fifty day simple moving average of $445.21 and a two-hundred day simple moving average of $296.11. 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 1 year low of $133.50 and a 1 year high of $562.99.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.08. The firm had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $9.90 billion. Advanced Micro Devices had a return on equity of 9.55% and a net margin of 13.37%.The business’s revenue for the quarter was up 37.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.96 EPS. On average, analysts expect that Advanced Micro Devices, Inc. will post 6.15 earnings per share for the current year.

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.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 6,000 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $536.33, for a total transaction of $3,217,980.00. Following the completion of the transaction, the executive vice president owned 1,233,687 shares in the company, valued at $661,663,348.71. This trade represents a 0.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Paul Darren Grasby sold 24,376 shares of Advanced Micro Devices stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $444.39, for a total transaction 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. The trade was a 18.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 378,032 shares of company stock worth $161,876,596 in the last ninety days. 0.50% of the stock is owned by corporate insiders.

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.