Alamar Capital Management LLC Takes $692,000 Position in Advanced Micro Devices, Inc. $AMD

Alamar Capital Management LLC purchased a new stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 3,400 shares of the semiconductor manufacturer’s stock, valued at approximately $692,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Advanced Micro Devices during the 4th quarter worth about $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 worth $2,336,552,000 after purchasing an additional 7,035,991 shares during the period. Cardano Risk Management B.V. bought a new stake in Advanced Micro Devices during the fourth quarter worth approximately $1,000,783,000. Wellington Management Group LLP grew its holdings in 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 purchasing an additional 3,735,807 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in 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 purchasing an additional 3,669,054 shares during the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AMD. HSBC cut shares of Advanced Micro Devices from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $335.00 to $340.00 in a research note on Monday, May 4th. Stifel Nicolaus raised their target price on shares of Advanced Micro Devices from $450.00 to $635.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Melius Research set a $540.00 target price on shares of Advanced Micro Devices in a report on Monday, May 18th. Royal Bank Of Canada boosted their target price on shares of Advanced Micro Devices from $325.00 to $400.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 6th. Finally, Sanford C. Bernstein set a $600.00 price target on shares of Advanced Micro Devices and gave the company an “outperform” rating in a report on Wednesday, June 17th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $468.65.

Advanced Micro Devices Trading Up 1.5%

Shares of Advanced Micro Devices stock opened at $552.33 on Thursday. Advanced Micro Devices, Inc. has a 1 year low of $149.22 and a 1 year high of $584.73. The company’s fifty day simple moving average is $508.85 and its 200-day simple moving average is $337.19. The company has a market cap of $900.63 billion, a price-to-earnings ratio of 181.09, a PEG ratio of 1.58 and a beta of 2.47. 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 released its 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 net margin of 13.37% and a return on equity of 9.55%. 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 company earned $0.96 EPS. The business’s quarterly revenue was up 37.8% compared to the same quarter last year. As a group, sell-side analysts expect that Advanced Micro Devices, Inc. will post 6.25 EPS for the current year.

Advanced Micro Devices News Roundup

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

• Positive Sentiment: Anthropic’s multi-year plan to deploy up to 2GW of AMD Instinct MI450 GPUs could become a major new revenue stream for AMD. AMD and Anthropic Sign Major Chips-and-Investment Deal
• Positive Sentiment: AMD’s planned investment in Anthropic signals a deeper strategic alliance and could help the company win more AI infrastructure customers. AMD to invest up to $5 billion in Anthropic, WSJ Reports
• Positive Sentiment: Analysts are becoming more confident that the Anthropic deal can improve AMD’s long-term revenue outlook and help narrow the gap with Nvidia. AMD Stock Rises as Wells Fargo Gains ‘Further Confidence’ in Revenue after Anthropic Deal
• Neutral Sentiment: AMD also remains in focus ahead of its Aug. 4 earnings report and upcoming AI event, keeping expectations elevated for more customer wins and product updates.

Insider Buying and Selling at Advanced Micro Devices

In related news, Director Nora Denzel sold 8,626 shares of Advanced Micro Devices stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $522.00, for a total transaction of $4,502,772.00. Following the sale, the director directly owned 87,173 shares of the company’s stock, valued at $45,504,306. This trade represents a 9.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Paul Darren Grasby sold 24,376 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president owned 105,222 shares in the company, valued at $46,759,604.58. This represents a 18.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 341,630 shares of company stock valued at $152,147,456 in the last three months. Company insiders own 0.50% of the company’s stock.

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.