Shikiar Asset Management Inc. Raises Stock Holdings in Advanced Micro Devices, Inc. $AMD

Shikiar Asset Management Inc. grew its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 21.8% in the 1st quarter, Holdings Channel.com reports. The fund owned 26,946 shares of the semiconductor manufacturer’s stock after acquiring an additional 4,830 shares during the quarter. Advanced Micro Devices comprises about 1.6% of Shikiar Asset Management Inc.’s holdings, making the stock its 21st largest position. Shikiar Asset Management Inc.’s holdings in Advanced Micro Devices were worth $5,482,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of AMD. Kohmann Bosshard Financial Services LLC increased its holdings in shares of Advanced Micro Devices by 23.2% in the 1st quarter. Kohmann Bosshard Financial Services LLC now owns 351 shares of the semiconductor manufacturer’s stock valued at $71,000 after acquiring an additional 66 shares during the period. Premier Path Wealth Partners LLC boosted its stake in Advanced Micro Devices by 15.7% during the 1st quarter. Premier Path Wealth Partners LLC now owns 8,438 shares of the semiconductor manufacturer’s stock worth $1,717,000 after purchasing an additional 1,147 shares during the period. Asset Planning Inc boosted its stake in Advanced Micro Devices by 56.3% during the 1st quarter. Asset Planning Inc now owns 2,526 shares of the semiconductor manufacturer’s stock worth $514,000 after purchasing an additional 910 shares during the period. Mayflower Financial Advisors LLC grew its position in Advanced Micro Devices by 1.0% during the 1st quarter. Mayflower Financial Advisors LLC now owns 5,533 shares of the semiconductor manufacturer’s stock worth $1,126,000 after purchasing an additional 57 shares during the last quarter. Finally, Conscious Wealth Investments LLC purchased a new position in Advanced Micro Devices during the 1st quarter worth $4,612,000. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AMD has been the subject of a number of research reports. Zacks Research cut shares of Advanced Micro Devices from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 3rd. BTIG Research raised Advanced Micro Devices to a “buy” rating in a report on Wednesday, May 6th. Morgan Stanley boosted their price target on Advanced Micro Devices from $360.00 to $410.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Erste Group Bank raised Advanced Micro Devices from a “hold” rating to a “buy” rating in a research note on Thursday, April 2nd. Finally, Jefferies Financial Group cut Advanced Micro Devices from a “buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $448.78.

Advanced Micro Devices Stock Performance

Shares of AMD opened at $580.91 on Wednesday. The company has a quick ratio of 1.96, a current ratio of 2.72 and a debt-to-equity ratio of 0.04. Advanced Micro Devices, Inc. has a 52-week low of $133.50 and a 52-week high of $584.73. The company has a 50-day simple moving average of $456.48 and a 200-day simple moving average of $301.41. The company has a market capitalization of $947.23 billion, a PE ratio of 190.46, a P/E/G ratio of 1.59 and a beta of 2.50.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $9.90 billion. During the same quarter in the previous year, the firm earned $0.96 earnings per share. The firm’s revenue was up 37.8% on a year-over-year basis. Equities research analysts predict that Advanced Micro Devices, Inc. will post 6.15 earnings per share for the current fiscal year.

Insider Activity at Advanced Micro Devices

In other news, EVP Paul Darren Grasby sold 24,376 shares of the business’s stock in a transaction that occurred on 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 sale, 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Forrest Eugene Norrod sold 19,487 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $431.40, for a total value of $8,406,691.80. Following the completion of the sale, the executive vice president owned 324,527 shares in the company, valued at approximately $140,000,947.80. This represents a 5.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 378,032 shares of company stock worth $161,876,596. 0.50% of the stock is currently owned by company insiders.

Trending Headlines about Advanced Micro Devices

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

• Positive Sentiment: Wells Fargo raised its AMD price target to $615 from $505, citing stronger server CPU demand and better long-term visibility. Article Title
• Positive Sentiment: More Wall Street firms are turning bullish on AMD as AI infrastructure spending broadens beyond Nvidia and into chip suppliers. Article Title
• Positive Sentiment: AMD’s strong AI and data center growth narrative continues to attract momentum buyers and options traders. Article Title
• Neutral Sentiment: AMD has seen unusually heavy insider selling over the past six months, which may temper some investor enthusiasm. Article Title

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.