Convergence Investment Partners LLC Buys 38,220 Shares of Advanced Micro Devices, Inc. $AMD

Convergence Investment Partners LLC lifted its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 2,268.2% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 39,905 shares of the semiconductor manufacturer’s stock after buying an additional 38,220 shares during the quarter. Advanced Micro Devices comprises about 1.3% of Convergence Investment Partners LLC’s portfolio, making the stock its 12th largest holding. Convergence Investment Partners LLC’s holdings in Advanced Micro Devices were worth $8,118,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Joseph Group Capital Management bought a new position in Advanced Micro Devices in the 4th quarter valued at about $25,000. Sarver Vrooman Wealth Advisors bought a new stake in shares of Advanced Micro Devices during the fourth quarter worth approximately $27,000. Cornerstone Financial Management LLC acquired a new position in shares of Advanced Micro Devices in the fourth quarter valued at approximately $27,000. Basepoint Wealth LLC acquired a new position in shares of Advanced Micro Devices in the fourth quarter valued at approximately $30,000. Finally, Main Street Group LTD bought a new position in shares of Advanced Micro Devices during the first quarter worth approximately $33,000. Institutional investors own 71.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AMD. Raymond James Financial assumed coverage on Advanced Micro Devices in a report on Wednesday, May 6th. They set a “market perform” rating for the company. Weiss Ratings upgraded shares of Advanced Micro Devices from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. KeyCorp raised their target price on shares of Advanced Micro Devices from $530.00 to $725.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Barclays downgraded shares of Advanced Micro Devices from an “overweight” rating to an “underweight” rating in a research report on Friday, June 12th. Finally, Wolfe Research set a $450.00 price target on Advanced Micro Devices and gave the company an “outperform” rating in a research note on Monday, June 15th. Two research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and a consensus target price of $468.65.

Advanced Micro Devices Trading Up 1.6%

AMD opened at $503.57 on Tuesday. The stock has a market capitalization of $821.12 billion, a price-to-earnings ratio of 165.11, a P/E/G ratio of 1.43 and a beta of 2.47. The company has a quick ratio of 1.96, a current ratio of 2.72 and a debt-to-equity ratio of 0.04. Advanced Micro Devices, Inc. has a twelve month low of $149.22 and a twelve month high of $584.73. The company has a 50-day simple moving average of $504.79 and a 200 day simple moving average of $332.48.

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. The firm had revenue of $10.25 billion for the quarter, compared to analyst estimates of $9.90 billion. Advanced Micro Devices had a net margin of 13.37% and a return on equity of 9.55%. The business’s quarterly revenue was up 37.8% compared to the same quarter last year. During the same period last year, the firm earned $0.96 EPS. Analysts predict that Advanced Micro Devices, Inc. will post 6.26 EPS for the current fiscal year.

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, CEO Lisa T. Su sold 125,000 shares of the company’s 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 sale, the chief executive officer directly owned 2,896,899 shares in the company, valued at $1,334,572,400.31. This represents a 4.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 completion of the sale, the executive vice president directly owned 324,527 shares in the company, valued at approximately $140,000,947.80. This represents a 5.66% 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 have sold a total of 341,630 shares of company stock worth $152,147,456 in the last three months. Company insiders own 0.50% of the company’s stock.

Key Stories Impacting Advanced Micro Devices

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

• Positive Sentiment: Microsoft expanded its strategic partnership with AMD and will deploy AMD Helios rack-scale AI systems at scale on Azure, giving AMD a major new customer and validating its push into full-stack AI infrastructure. AMD launches Helios, its first rack AI system to rival Nvidia, adding Microsoft as newest buyer
• Positive Sentiment: Several analysts raised price targets or turned more bullish ahead of AMD’s AI event, suggesting Wall Street expects stronger product momentum and potential upside from new announcements. AMD’s Big AI Moment Is Here: 6 Wall Street Analysts Just Placed Their Bets
• Positive Sentiment: AMD continues to benefit from broad chip-sector strength and a rebound in AI names, with traders rotating back into semiconductors after a recent selloff. Stock Market Today: Nasdaq Clings To A Gain After Trump Comments; AMD Rises (Live Coverage)
• Positive Sentiment: Coverage around AMD’s hyperscaler deals and strong data-center growth highlights a longer-term revenue story, especially if the Microsoft win leads to more deployments. AMD: Hyperscaler Deals Drive Growth

Advanced Micro Devices Company 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.