Sterling Capital Management LLC Sells 15,926 Shares of Advanced Micro Devices, Inc. $AMD

Sterling Capital Management LLC lessened its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 39.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,803 shares of the semiconductor manufacturer’s stock after selling 15,926 shares during the quarter. Sterling Capital Management LLC’s holdings in Advanced Micro Devices were worth $5,046,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in Advanced Micro Devices during the 4th quarter valued at about $4,929,312,000. Jennison Associates LLC increased its position in shares of Advanced Micro Devices by 181.6% during the fourth quarter. Jennison Associates LLC now owns 10,910,310 shares of the semiconductor manufacturer’s stock worth $2,336,552,000 after acquiring an additional 7,035,991 shares during the period. Cardano Risk Management B.V. purchased a new position in shares of Advanced Micro Devices during the fourth quarter worth approximately $1,000,783,000. Wellington Management Group LLP raised its stake in shares of Advanced Micro Devices by 335.9% during 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 acquiring an additional 3,735,807 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake 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 acquiring an additional 3,669,054 shares in the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Insider Buying and Selling at Advanced Micro Devices

In related news, EVP Paul Darren Grasby sold 24,376 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were 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 in the company, valued at $46,759,604.58. The trade was a 18.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Nora Denzel sold 8,626 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $522.00, for a total transaction of $4,502,772.00. Following the completion of the sale, the director owned 87,173 shares of the company’s stock, valued at approximately $45,504,306. This trade represents a 9.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 378,032 shares of company stock valued at $161,876,596. 0.50% of the stock is currently owned by corporate insiders.

Key Advanced Micro Devices News

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.

Advanced Micro Devices Trading Down 2.1%

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

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share for the quarter, topping 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 firm had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $9.90 billion. During the same period in the prior year, the business posted $0.96 EPS. The firm’s quarterly revenue was up 37.8% on a year-over-year basis. As a group, equities research analysts predict that Advanced Micro Devices, Inc. will post 6.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AMD has been the topic of several research analyst reports. Citigroup cut Advanced Micro Devices from a “buy” rating to a “market perform” rating in a research note on Friday, June 12th. TD Cowen lifted their target price on Advanced Micro Devices from $500.00 to $600.00 and gave the company a “buy” rating in a research report on Monday, June 1st. Mizuho increased their price target on Advanced Micro Devices from $515.00 to $615.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Seaport Research Partners raised Advanced Micro Devices from a “neutral” rating to a “buy” rating and set a $430.00 price target on the stock in a research report on Wednesday, May 6th. Finally, Stifel Nicolaus lifted their price objective on Advanced Micro Devices from $320.00 to $450.00 and gave the company a “buy” 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 issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and a consensus target price of $440.41.

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.