GK Wealth Management LLC Takes Position in Advanced Micro Devices, Inc. $AMD

GK Wealth Management LLC acquired a new stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,447 shares of the semiconductor manufacturer’s stock, valued at approximately $1,421,000. Advanced Micro Devices accounts for approximately 0.7% of GK Wealth Management LLC’s portfolio, making the stock its 28th biggest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Southpoint Capital Advisors LP raised its position in shares of Advanced Micro Devices by 50.0% in the 1st quarter. Southpoint Capital Advisors LP now owns 900,000 shares of the semiconductor manufacturer’s stock worth $183,087,000 after acquiring an additional 300,000 shares in the last quarter. Jefferies Financial Group Inc. lifted its stake in shares of Advanced Micro Devices by 6,228.8% in the 4th quarter. Jefferies Financial Group Inc. now owns 308,021 shares of the semiconductor manufacturer’s stock valued at $65,966,000 after purchasing an additional 303,154 shares during the period. Boomfish Wealth Group LLC bought a new stake in shares of Advanced Micro Devices during the first quarter valued at approximately $1,193,000. Dimensional Fund Advisors LP boosted its position in shares of Advanced Micro Devices by 6.0% during the first quarter. Dimensional Fund Advisors LP now owns 5,142,516 shares of the semiconductor manufacturer’s stock valued at $1,045,954,000 after purchasing an additional 291,165 shares in the last quarter. Finally, Williamson Legacy Group LLC purchased a new stake in Advanced Micro Devices in the fourth quarter worth $1,118,000. 71.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Oppenheimer downgraded Advanced Micro Devices from a “market perform” rating to a “market perform” rating in a report on Wednesday, May 6th. The Goldman Sachs Group boosted their target price on shares of Advanced Micro Devices from $450.00 to $640.00 and gave the company a “buy” rating in a report on Monday, July 6th. Sanford C. Bernstein set a $600.00 target price on shares of Advanced Micro Devices and gave the stock an “outperform” rating in a research report on Wednesday, June 17th. 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, JPMorgan Chase & Co. lifted their price target on shares of Advanced Micro Devices from $270.00 to $385.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, eleven 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 $529.46.

Advanced Micro Devices Stock Up 7.0%

Shares of NASDAQ:AMD opened at $518.58 on Wednesday. The stock has a fifty day simple moving average of $516.06 and a two-hundred day simple moving average of $354.63. The stock has a market capitalization of $845.60 billion, a price-to-earnings ratio of 170.03 and a beta of 2.48. Advanced Micro Devices, Inc. has a 12-month low of $149.22 and a 12-month high of $584.73. 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, August 4th. The semiconductor manufacturer reported $1.66 EPS for the quarter, topping the consensus estimate of $1.62 by $0.04. Advanced Micro Devices had a return on equity of 9.55% and a net margin of 13.37%.The business had revenue of $11.54 billion for the quarter, compared to the consensus estimate of $11.31 billion. During the same period in the previous year, the company posted $0.48 earnings per share. The company’s revenue for the quarter was up 50.1% compared to the same quarter last year. On average, research analysts anticipate that Advanced Micro Devices, Inc. will post 6.27 earnings per share for the current fiscal year.

Trending Headlines about Advanced Micro Devices

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

• Positive Sentiment: AMD reported second-quarter adjusted EPS of $1.66, ahead of the $1.61 consensus estimate, while revenue rose 50.1% year over year to $11.54 billion, exceeding the $11.31 billion forecast. AMD Surpasses Q2 Earnings and Revenue Estimates
• Positive Sentiment: Data-center revenue reportedly more than doubled to a record $6.7 billion, reinforcing the AI-infrastructure growth story and AMD’s efforts to compete with Nvidia in GPUs, CPUs and rack-scale systems. AMD Revenue Climbs 50% and Data Center Sales Doubled
• Positive Sentiment: Third-quarter revenue guidance of $12.7 billion to $13.3 billion exceeded the approximately $12.4 billion analyst consensus, indicating continued demand for AI and data-center products. AMD Forecasts Upbeat Revenue on AI Data-Center Demand
• Neutral Sentiment: A broad risk-on rally lifted the semiconductor sector, with gains in Nvidia, Intel, Broadcom and Marvell providing a favorable backdrop for AMD before earnings. Chip Stocks Ride a Risk-On Rally
• Negative Sentiment: Investors viewed the quarterly beat as modest relative to AMD’s rally and valuation—roughly 170 times trailing earnings in the supplied data—raising concerns that expectations had already priced in exceptional execution. AMD Reported Record Sales but Stock Fell
• Negative Sentiment: Commentary also highlighted potentially “shocking” capital spending and continuing insider selling; data supplied by Quiver shows 99 insider sales and no purchases over the past six months. These signals may have amplified profit-taking after the release. AMD Stock Falls on Q2 Earnings

Insider Transactions at Advanced Micro Devices

In related news, EVP Forrest Eugene Norrod sold 19,487 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president owned 324,527 shares in the company, valued at $140,000,947.80. The trade was a 5.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark D. Papermaster sold 6,000 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $536.33, for a total transaction of $3,217,980.00. Following the sale, the executive vice president directly owned 1,233,687 shares in the company, valued at $661,663,348.71. This trade represents a 0.48% decrease in their ownership of the stock. 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 310,310 shares of company stock worth $141,185,456 over the last quarter. Corporate insiders own 0.50% of the company’s stock.

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.