Advanced Micro Devices, Inc. $AMD Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 5.6% in the 1st quarter, Holdings Channel reports. The fund owned 398,119 shares of the semiconductor manufacturer’s stock after acquiring an additional 21,176 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Advanced Micro Devices were worth $80,989,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of AMD. Columbia Bank boosted its holdings in shares of Advanced Micro Devices by 0.7% during the 1st quarter. Columbia Bank now owns 5,188 shares of the semiconductor manufacturer’s stock worth $1,055,000 after purchasing an additional 34 shares during the last quarter. Evolution Wealth Management Inc. increased its holdings in shares of Advanced Micro Devices by 11.0% in the first quarter. Evolution Wealth Management Inc. now owns 352 shares of the semiconductor manufacturer’s stock valued at $72,000 after purchasing an additional 35 shares during the last quarter. Focused Wealth Management Inc lifted its position in Advanced Micro Devices by 2.7% during the first quarter. Focused Wealth Management Inc now owns 1,431 shares of the semiconductor manufacturer’s stock worth $291,000 after buying an additional 37 shares in the last quarter. James J. Burns & Company LLC lifted its position in Advanced Micro Devices by 2.3% during the fourth quarter. James J. Burns & Company LLC now owns 1,816 shares of the semiconductor manufacturer’s stock worth $389,000 after buying an additional 40 shares in the last quarter. Finally, Private Wealth Management Group LLC boosted its stake in Advanced Micro Devices by 24.8% during the first quarter. Private Wealth Management Group LLC now owns 201 shares of the semiconductor manufacturer’s stock worth $41,000 after buying an additional 40 shares during the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

Insider Buying and Selling

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 19,487 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president owned 324,527 shares of the company’s stock, valued at $140,000,947.80. This trade represents a 5.66% decrease in their ownership of the stock. The sale 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 Advanced Micro Devices stock in a transaction dated Friday, May 8th. The shares were 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 represents a 18.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 341,630 shares of company stock valued at $152,147,456 over the last three months. Company insiders own 0.50% of the company’s stock.

More Advanced Micro Devices News

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.

Wall Street Analyst Weigh In

Several analysts have issued reports on AMD shares. Seaport Research Partners upgraded Advanced Micro Devices from a “neutral” rating to a “buy” rating and set a $430.00 target price for the company in a report on Wednesday, May 6th. Loop Capital upgraded Advanced Micro Devices to a “strong-buy” rating in a report on Tuesday, June 16th. Northland Securities reissued a “market perform” rating and set a $260.00 price target on shares of Advanced Micro Devices in a research report on Monday, April 27th. Barclays lowered shares of Advanced Micro Devices from an “overweight” rating to an “underweight” rating in a report on Friday, June 12th. Finally, Cantor Fitzgerald raised their price objective on shares of Advanced Micro Devices from $500.00 to $700.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Two 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 issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $468.65.

Advanced Micro Devices Price Performance

NASDAQ:AMD opened at $552.33 on Thursday. Advanced Micro Devices, Inc. has a 52 week low of $149.22 and a 52 week high of $584.73. The stock’s fifty day moving average is $508.85 and its two-hundred day moving average is $337.19. The company has a market capitalization of $900.63 billion, a P/E ratio of 181.09, a P/E/G ratio of 1.58 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 (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.08. The business had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $9.90 billion. Advanced Micro Devices had a return on equity of 9.55% and a net margin of 13.37%.The company’s revenue was up 37.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.96 EPS. Equities analysts expect that Advanced Micro Devices, Inc. will post 6.25 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.