DNB Asset Management AS Sells 592,613 Shares of Advanced Micro Devices, Inc. $AMD

DNB Asset Management AS decreased its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 40.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 866,532 shares of the semiconductor manufacturer’s stock after selling 592,613 shares during the period. Advanced Micro Devices comprises about 0.6% of DNB Asset Management AS’s holdings, making the stock its 26th largest holding. DNB Asset Management AS owned about 0.05% of Advanced Micro Devices worth $185,576,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Lockheed Martin Investment Management Co. increased its position in Advanced Micro Devices by 12.0% in the 4th quarter. Lockheed Martin Investment Management Co. now owns 18,790 shares of the semiconductor manufacturer’s stock valued at $4,024,000 after acquiring an additional 2,010 shares during the period. HFM Investment Advisors LLC increased its position in Advanced Micro Devices by 2,085.7% in the 4th quarter. HFM Investment Advisors LLC now owns 306 shares of the semiconductor manufacturer’s stock valued at $66,000 after acquiring an additional 292 shares during the period. Northwestern Mutual Investment Management Company LLC increased its position in Advanced Micro Devices by 0.6% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 52,018 shares of the semiconductor manufacturer’s stock valued at $11,140,000 after acquiring an additional 295 shares during the period. Phoenix Financial Ltd. increased its position in Advanced Micro Devices by 0.3% in the 4th quarter. Phoenix Financial Ltd. now owns 60,003 shares of the semiconductor manufacturer’s stock valued at $11,738,000 after acquiring an additional 209 shares during the period. Finally, Fulcrum Asset Management LLP increased its position in Advanced Micro Devices by 3.3% in the 4th quarter. Fulcrum Asset Management LLP now owns 13,078 shares of the semiconductor manufacturer’s stock valued at $2,816,000 after acquiring an additional 413 shares during the period. Institutional investors own 71.34% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. DA Davidson upped their price target on shares of Advanced Micro Devices from $375.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Cantor Fitzgerald upped their price target on shares of Advanced Micro Devices to $500.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Barclays upped their price target on shares of Advanced Micro Devices from $300.00 to $500.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Wells Fargo & Company upped their price target on shares of Advanced Micro Devices from $345.00 to $505.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Finally, Zacks Research upgraded shares of Advanced Micro Devices from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $396.95.

Insider Transactions at Advanced Micro Devices

In other news, CEO Lisa T. Su sold 125,000 shares of the stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $445.51, for a total transaction of $55,688,750.00. Following the completion of the sale, the chief executive officer directly owned 3,021,899 shares in the company, valued at $1,346,286,223.49. This represents a 3.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Paul Darren Grasby sold 24,376 shares of the stock in a transaction 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 approximately $46,759,604.58. This trade represents a 18.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 309,598 shares of company stock worth $105,644,316 over the last three months. 0.50% of the stock is owned by company insiders.

Key Advanced Micro Devices News

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

• Positive Sentiment: Q1 earnings and revenue both topped expectations, with data center sales up sharply on strong demand for EPYC CPUs and Instinct GPUs.
• Positive Sentiment: Several analysts raised price targets after the earnings report, citing AMD’s accelerating AI and data center growth.
• Positive Sentiment: AMD expanded FSR 4.1 support to older GPUs and introduced new Ryzen PRO 9000 offerings, reinforcing product momentum in client and gaming.

Advanced Micro Devices Trading Down 5.7%

AMD opened at $424.10 on Friday. Advanced Micro Devices, Inc. has a twelve month low of $107.67 and a twelve month high of $469.21. The company has a quick ratio of 1.96, a current ratio of 2.72 and a debt-to-equity ratio of 0.04. The company has a fifty day moving average of $273.49 and a 200-day moving average of $240.52. The stock has a market cap of $691.54 billion, a PE ratio of 139.05, a price-to-earnings-growth ratio of 1.34 and a beta of 2.40.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share for the quarter, topping 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 company 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 posted $0.96 earnings per share. Advanced Micro Devices’s revenue for the quarter was up 37.8% compared to the same quarter last year. On average, sell-side analysts predict that Advanced Micro Devices, Inc. will post 6.17 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.