Allstate Corp Acquires 64,362 Shares of Advanced Micro Devices, Inc. $AMD

Allstate Corp raised its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 108.8% in the fourth quarter, HoldingsChannel reports. The fund owned 123,504 shares of the semiconductor manufacturer’s stock after purchasing an additional 64,362 shares during the quarter. Allstate Corp’s holdings in Advanced Micro Devices were worth $26,450,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Impax Asset Management Group plc boosted its position in shares of Advanced Micro Devices by 326.5% during the third quarter. Impax Asset Management Group plc now owns 52,068 shares of the semiconductor manufacturer’s stock valued at $8,424,000 after buying an additional 39,861 shares during the last quarter. Jefferies Financial Group Inc. boosted its position in shares of Advanced Micro Devices by 6,228.8% during the fourth quarter. Jefferies Financial Group Inc. now owns 308,021 shares of the semiconductor manufacturer’s stock valued at $65,966,000 after buying an additional 303,154 shares during the last quarter. Zweig DiMenna Associates LLC boosted its position in shares of Advanced Micro Devices by 127.6% during the third quarter. Zweig DiMenna Associates LLC now owns 72,602 shares of the semiconductor manufacturer’s stock valued at $11,746,000 after buying an additional 40,708 shares during the last quarter. Wedbush Securities Inc. boosted its position in shares of Advanced Micro Devices by 7.8% during the third quarter. Wedbush Securities Inc. now owns 84,256 shares of the semiconductor manufacturer’s stock valued at $13,632,000 after buying an additional 6,095 shares during the last quarter. Finally, WealthPlan Investment Management LLC boosted its position in shares of Advanced Micro Devices by 338.5% during the fourth quarter. WealthPlan Investment Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock valued at $1,319,000 after buying an additional 4,753 shares during the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

Advanced Micro Devices Stock Performance

Shares of AMD opened at $467.51 on Tuesday. The firm has a market cap of $762.32 billion, a PE ratio of 153.28, a PEG ratio of 1.37 and a beta of 2.40. The stock’s fifty day moving average price is $302.82 and its two-hundred day moving average price is $248.30. 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 $107.67 and a 1 year high of $481.41.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.08. The firm had revenue of $10.25 billion for the quarter, compared to analyst estimates 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 was up 37.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.96 earnings per share. On average, equities research analysts forecast that Advanced Micro Devices, Inc. will post 6.2 EPS for the current year.

Insider Transactions at Advanced Micro Devices

In related news, CEO Lisa T. Su sold 125,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $445.51, for a total transaction of $55,688,750.00. Following the sale, the chief executive officer directly owned 3,021,899 shares in the company, valued at approximately $1,346,286,223.49. The trade was a 3.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 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. In the last three months, insiders have sold 329,085 shares of company stock valued at $114,051,007. Corporate insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Needham & Company LLC upgraded Advanced Micro Devices to a “buy” rating in a report on Wednesday, May 6th. The Goldman Sachs Group upgraded Advanced Micro Devices from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $240.00 to $450.00 in a report on Wednesday, May 6th. Benchmark lifted their price target on Advanced Micro Devices from $325.00 to $485.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Wedbush lifted their price target on Advanced Micro Devices from $290.00 to $400.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Finally, Raymond James Financial assumed coverage on Advanced Micro Devices in a report on Wednesday, May 6th. They set a “market perform” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $410.00.

Advanced Micro Devices News Roundup

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

• Positive Sentiment: AMD reportedly plans to invest more than $10 billion in Taiwan’s AI market, a move aimed at expanding chip production capacity and deepening ties with packaging and testing partners. Advanced Micro Devices, Inc. (AMD) Plans to Invest more than $10B in Taiwan’s AI Market
• Positive Sentiment: Several analyst and market commentary pieces highlighted AMD as a key beneficiary of the AI chip boom, especially as demand shifts toward inference-focused workloads and investors look for “next Nvidia” opportunities. The ‘Next Nvidia’ Trade? Why Investors Are Suddenly Watching Advanced Micro Devices, Arm Holdings, and Marvell Technology
• Positive Sentiment: Recent bullish coverage says AMD’s AI roadmap, including ROCm adoption and rack-scale solutions, is strengthening its competitive position versus Nvidia and supporting the stock’s momentum. Advanced Micro Devices: 3 Things Favor This Nvidia Competitor, Reiterate Strong Buy
• Neutral Sentiment: AMD remained a heavily watched trading name, with articles noting it was among the most searched stocks and that investors are weighing its next moves after a strong run.
• Negative Sentiment: One report noted a stock sale by executive Forrest Eugene Norrod, which could slightly temper sentiment, though it appears smaller than the positive AI and expansion catalysts. Forrest Eugene Norrod Sells 19,487 Shares of Advanced Micro Devices (NASDAQ:AMD) Stock

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.