Canvas Wealth Advisors LLC Has $10.34 Million Position in Advanced Micro Devices, Inc. $AMD

Canvas Wealth Advisors LLC decreased its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 3.9% in the first quarter, Holdings Channel reports. The institutional investor owned 50,808 shares of the semiconductor manufacturer’s stock after selling 2,054 shares during the quarter. Advanced Micro Devices makes up approximately 1.8% of Canvas Wealth Advisors LLC’s holdings, making the stock its 16th largest position. Canvas Wealth Advisors LLC’s holdings in Advanced Micro Devices were worth $10,336,000 at the end of the most recent reporting period.

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

Key Advanced Micro Devices News

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

• Positive Sentiment: Goldman Sachs and Wells Fargo both raised their price targets on AMD, citing strong server CPU demand, pricing power, and continued AI-related growth. AMD, Nvidia, Micron, Oracle, Dell, Intel, and More Stocks That Explain Today’s Market
• Positive Sentiment: AMD’s AI story got another boost after Turing said it began using AMD GPUs for 10% of its AI training and brought in AMD Ventures as a backer, expanding AMD’s reach into autonomous driving. AMD Gains AI Customer as $600 Million Self-Driving Startup Adopts Its GPUs
• Positive Sentiment: AMD is also benefiting from the view that it could close the gap with Nvidia as data center revenue and AI accelerator demand continue to accelerate, keeping long-term growth expectations elevated. AMD Is 11% Away From Joining the $1 Trillion Club. Could It Get There This Year?
• Neutral Sentiment: Cathie Wood’s ARK Invest sold about $8 million of AMD shares, which may add some near-term supply but does not change the company’s operating outlook. AMD Stock: Cathie Wood Sells $8M in AMD Despite Growing Analyst Optimism
• Neutral Sentiment: Investors are also watching commentary that AMD’s AI momentum is strong, but expectations may already be high after the stock’s sharp run and recent record levels. Advanced Micro Devices (AMD) Wins Fresh Analyst Backing, Is The Upside Already Priced In?
• Negative Sentiment: AMD is slipping with the broader semiconductor and AI trade as investors rotate out of high-multiple tech names and await fresh macro catalysts such as Fed minutes. NVDA, AMD, and INTC Forecasts – Stalling AI Trade Pressures Chip Stocks

Insider Buying and Selling at Advanced Micro Devices

In related news, EVP Forrest Eugene Norrod sold 19,487 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $431.40, for a total value of $8,406,691.80. Following the transaction, the executive vice president directly owned 324,527 shares in the company, valued at approximately $140,000,947.80. This trade represents a 5.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lisa T. Su sold 125,000 shares of Advanced Micro Devices stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $460.69, for a total transaction of $57,586,250.00. Following the completion of the transaction, the chief executive officer owned 2,896,899 shares in the company, valued at $1,334,572,400.31. This trade represents a 4.14% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 374,739 shares of company stock worth $161,135,671 in the last quarter. 0.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AMD has been the subject of several research reports. Evercore reiterated an “outperform” rating and set a $579.00 price target on shares of Advanced Micro Devices in a report on Tuesday, May 19th. Northland Securities restated a “market perform” rating and issued a $260.00 price objective on shares of Advanced Micro Devices in a report on Monday, April 27th. Raymond James Financial began coverage on shares of Advanced Micro Devices in a research report on Wednesday, May 6th. They set a “market perform” rating on the stock. Zacks Research cut shares of Advanced Micro Devices from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 3rd. Finally, Mizuho boosted their target price on shares of Advanced Micro Devices from $515.00 to $615.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Advanced Micro Devices has an average rating of “Moderate Buy” and an average target price of $453.92.

Advanced Micro Devices Stock Up 6.6%

AMD opened at $552.05 on Tuesday. The firm has a market cap of $900.17 billion, a P/E ratio of 181.00, a price-to-earnings-growth ratio of 1.53 and a beta of 2.47. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.96 and a current ratio of 2.72. The business has a 50 day moving average price of $470.75 and a 200 day moving average price of $308.01. Advanced Micro Devices, Inc. has a twelve month low of $133.50 and a twelve month high of $584.73.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 EPS for the quarter, beating the consensus estimate 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 company had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $9.90 billion. During the same quarter last year, the company posted $0.96 earnings per share. The company’s revenue for the quarter was up 37.8% compared to the same quarter last year. Research analysts forecast that Advanced Micro Devices, Inc. will post 6.15 EPS for the current year.

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.