Clearwater Capital Advisors LLC Acquires Shares of 1,110 Advanced Micro Devices, Inc. $AMD

Clearwater Capital Advisors LLC purchased a new position in Advanced Micro Devices, Inc. (NASDAQ:AMD) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 1,110 shares of the semiconductor manufacturer’s stock, valued at approximately $226,000.

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

Analysts Set New Price Targets

A number of research analysts have weighed in on AMD shares. Morgan Stanley raised their price objective on Advanced Micro Devices from $360.00 to $410.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Zacks Research cut shares of Advanced Micro Devices from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 3rd. Benchmark reissued a “buy” rating on shares of Advanced Micro Devices in a research note on Wednesday. Susquehanna raised their price target on shares of Advanced Micro Devices from $375.00 to $450.00 and gave the stock a “positive” rating in a research note on Wednesday, May 6th. Finally, Cantor Fitzgerald boosted their price target 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 research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $468.65.

Key Headlines Impacting Advanced Micro Devices

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.

Advanced Micro Devices Trading Up 1.5%

NASDAQ AMD opened at $552.33 on Thursday. The firm’s 50-day moving average is $508.85 and its two-hundred day moving average is $337.19. Advanced Micro Devices, Inc. has a 12 month low of $149.22 and a 12 month high of $584.73. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.72 and a quick ratio of 1.96. The stock has a market capitalization of $900.63 billion, a P/E ratio of 181.09, a PEG ratio of 1.58 and a beta of 2.47.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $9.90 billion. During the same period last year, the business earned $0.96 earnings per share. The business’s revenue for the quarter was up 37.8% on a year-over-year basis. On average, sell-side analysts anticipate that Advanced Micro Devices, Inc. will post 6.25 earnings per share for the current year.

Insider Buying and Selling at Advanced Micro Devices

In other news, CEO Lisa T. Su sold 125,000 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $460.69, for a total transaction of $57,586,250.00. Following the sale, the chief executive officer owned 2,896,899 shares of the company’s stock, valued at approximately $1,334,572,400.31. This represents a 4.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 that occurred on 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 directly owned 324,527 shares of the company’s stock, valued at $140,000,947.80. This represents a 5.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 341,630 shares of company stock valued at $152,147,456. Corporate insiders own 0.50% of the company’s stock.

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.