Patriot Financial Group Insurance Agency LLC Acquires 18,222 Shares of Advanced Micro Devices, Inc. $AMD

Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 107.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,172 shares of the semiconductor manufacturer’s stock after buying an additional 18,222 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Advanced Micro Devices were worth $7,155,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Joseph Group Capital Management purchased a new position in shares of Advanced Micro Devices during the 4th quarter worth $25,000. Sarver Vrooman Wealth Advisors bought a new position in Advanced Micro Devices in the 4th quarter worth $27,000. Cornerstone Financial Management LLC bought a new position in Advanced Micro Devices in the 4th quarter worth $27,000. Basepoint Wealth LLC purchased a new position in Advanced Micro Devices during the fourth quarter valued at $30,000. Finally, Aviso Financial Inc. grew its holdings in Advanced Micro Devices by 400.0% during the third quarter. Aviso Financial Inc. now owns 200 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 160 shares during the period. 71.34% of the stock is owned by hedge funds and other institutional investors.

Key Advanced Micro Devices News

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

• Positive Sentiment: Wall Street sentiment remains upbeat, with multiple analysts raising AMD price targets in June, including a street-high call from UBS, as firms increasingly view AMD as a bigger player in AI infrastructure and data center CPUs.
• Positive Sentiment: AMD continues to gain credibility in enterprise AI, including recognition from Gartner as a leading server CPU company, which supports the long-term growth case for its data center business. Article Title
• Positive Sentiment: New business wins are also helping sentiment, including a definitive agreement with Rackspace Technology to deploy AMD-based infrastructure, reinforcing demand for AMD chips in cloud and enterprise workloads. Article Title
• Positive Sentiment: Several recent articles argue AMD still has meaningful upside as investors focus on its CPU and AI data center growth, with some bullish commentary suggesting the market may still be underappreciating its long-term earnings power.
• Neutral Sentiment: One recent piece highlighted both the positives and a caution on AMD, noting the stock’s huge six-month run and suggesting investors should stay aware of valuation risk after such a strong rally.
• Negative Sentiment: The semiconductor group has also been under pressure today, with AI chip names, including AMD, softening as momentum in the sector cools and investors rotate out of the space. Article Title
• Negative Sentiment: Bearish/neutral valuation commentary has also picked up, with some coverage questioning whether AMD’s rapid stock gains have already priced in a lot of future growth, which can weigh on the shares in the short term.

Insider Activity

In related news, EVP Forrest Eugene Norrod sold 19,487 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $431.40, for a total transaction of $8,406,691.80. Following the completion of the transaction, the executive vice president directly owned 324,527 shares of the company’s stock, valued at approximately $140,000,947.80. This represents a 5.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Paul Darren Grasby sold 24,376 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president owned 105,222 shares of the company’s stock, valued at $46,759,604.58. This represents a 18.81% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 378,032 shares of company stock valued at $161,876,596. 0.50% of the stock is owned by corporate insiders.

Advanced Micro Devices Price Performance

AMD stock opened at $521.58 on Friday. 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 company’s fifty day moving average price is $445.21 and its 200-day moving average price is $296.11. Advanced Micro Devices, Inc. has a one year low of $133.50 and a one year high of $562.99. The company has a market capitalization of $850.49 billion, a PE ratio of 171.01, a price-to-earnings-growth ratio of 1.54 and a beta of 2.50.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.08. The company had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $9.90 billion. Advanced Micro Devices had a net margin of 13.37% and a return on equity of 9.55%. Advanced Micro Devices’s quarterly revenue was up 37.8% on a year-over-year basis. During the same period last year, the company posted $0.96 earnings per share. On average, equities analysts anticipate that Advanced Micro Devices, Inc. will post 6.15 EPS for the current fiscal year.

Analyst Ratings Changes

AMD has been the topic of several recent research reports. TD Cowen raised their price objective on Advanced Micro Devices from $500.00 to $600.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. Morgan Stanley raised their target price on shares of Advanced Micro Devices from $360.00 to $410.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. HSBC cut shares of Advanced Micro Devices from a “buy” rating to a “hold” rating and increased their price objective for the stock from $335.00 to $340.00 in a research note on Monday, May 4th. Weiss Ratings upgraded shares of Advanced Micro Devices from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Finally, Sanford C. Bernstein set a $600.00 price target on Advanced Micro Devices and gave the stock an “outperform” rating in a research note on Wednesday, June 17th. Two analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Advanced Micro Devices currently has an average rating of “Moderate Buy” and a consensus target price of $440.41.

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.