BI Asset Management Fondsmaeglerselskab A S Cuts Stake in Advanced Micro Devices, Inc. $AMD

BI Asset Management Fondsmaeglerselskab A S reduced its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 57.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,853 shares of the semiconductor manufacturer’s stock after selling 114,388 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Advanced Micro Devices were worth $17,465,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of AMD. Norges Bank purchased a new position in Advanced Micro Devices in the fourth quarter valued at about $4,929,312,000. Jennison Associates LLC raised its holdings in Advanced Micro Devices by 181.6% in the fourth quarter. Jennison Associates LLC now owns 10,910,310 shares of the semiconductor manufacturer’s stock worth $2,336,552,000 after purchasing an additional 7,035,991 shares in the last quarter. Cardano Risk Management B.V. bought a new position in Advanced Micro Devices in the fourth quarter worth about $1,000,783,000. Wellington Management Group LLP lifted its position 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 buying an additional 3,735,807 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position 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 buying an additional 3,669,054 shares during the last quarter. Institutional investors own 71.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. TD Cowen lifted their price objective on shares of Advanced Micro Devices from $500.00 to $600.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Wolfe Research set a $450.00 price objective on shares of Advanced Micro Devices and gave the stock an “outperform” rating in a research note on Monday, June 15th. Wedbush increased their target price on shares of Advanced Micro Devices from $290.00 to $400.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Mizuho raised their target price on shares of Advanced Micro Devices from $515.00 to $615.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. Finally, Evercore reaffirmed an “outperform” rating and issued a $579.00 price target on shares of Advanced Micro Devices in a report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Advanced Micro Devices has a consensus rating of “Moderate Buy” and a consensus price target of $430.68.

Advanced Micro Devices Price Performance

Shares of NASDAQ AMD opened at $539.33 on Friday. Advanced Micro Devices, Inc. has a fifty-two week low of $126.82 and a fifty-two week high of $558.37. The company has a market cap of $879.43 billion, a PE ratio of 176.83, a P/E/G ratio of 1.57 and a beta of 2.50. 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 simple moving average of $417.16 and a two-hundred day simple moving average of $285.22.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data 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 the consensus estimate of $9.90 billion. Advanced Micro Devices had a net margin of 13.37% and a return on equity of 9.55%. The company’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 company posted $0.96 earnings per share. As a group, equities analysts expect that Advanced Micro Devices, Inc. will post 6.15 EPS for the current fiscal year.

Trending Headlines about Advanced Micro Devices

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

• Positive Sentiment: Bernstein raised its price target on AMD to $600, citing strong AI infrastructure demand and improving server-market conditions, reinforcing the bullish case for the stock. Why Is AMD Stock Gaining Thursday?
• Positive Sentiment: AMD and Rackspace signed a definitive agreement to deploy 30 MW of AMD-based AI compute across Rackspace’s data centers, a win that could expand AMD’s presence in regulated enterprise cloud workloads. Rackspace’s AI Land Grab: Plugging Into the Next Compute Boom (AMD)
• Positive Sentiment: AMD’s acquisition of MEXT is being viewed as strategically important because it could help address AI data-center memory bottlenecks and strengthen the company’s AI stack. AMD (AMD) Buys MEXT To Tackle AI Data Center Memory Bottlenecks
• Neutral Sentiment: Several analyst and investor articles continue to highlight AMD’s strong year-to-date rally, but also warn that the stock is trading near all-time highs and may be fully valued, which could temper upside near term. Buy, Hold, or Sell: AMD Rested Near All-Time Highs as Kevin Warsh Opened His First Fed Meeting. Is AMD Stock a Buy at $507?
• Neutral Sentiment: Market commentary from today also points to AMD as a preferred semiconductor alternative versus Intel, but the note is more about sector positioning than a direct company-specific catalyst. Analyst Warns Intel Valuation ‘Doesn’t Make Sense.’ Suggests NVIDIA, AMD, Micron, and Broadcom as Alternatives.
• Negative Sentiment: Some recent coverage warns AMD has likely risen too far, too fast, which could invite profit-taking if investors become more cautious about valuation. One Warning Signal AMD Investors Can’t Miss

Insider Activity at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 19,487 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $431.40, for a total transaction of $8,406,691.80. Following the sale, the executive vice president owned 324,527 shares of the company’s stock, valued at approximately $140,000,947.80. The trade was a 5.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark D. Papermaster sold 6,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president owned 1,233,687 shares in the company, valued at $661,663,348.71. The trade was a 0.48% 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. Insiders have sold 378,032 shares of company stock worth $161,876,596 in the last 90 days. 0.50% of the stock is owned by insiders.

Advanced Micro Devices 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.