Advanced Micro Devices, Inc. $AMD Shares Acquired by Convergence Financial LLC

Convergence Financial LLC increased its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 87.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,850 shares of the semiconductor manufacturer’s stock after buying an additional 1,793 shares during the period. Convergence Financial LLC’s holdings in Advanced Micro Devices were worth $2,237,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Joseph Group Capital Management acquired a new position in Advanced Micro Devices during the 4th quarter worth $25,000. Sarver Vrooman Wealth Advisors bought a new stake in shares of Advanced Micro Devices in the 4th quarter worth about $27,000. Cornerstone Financial Management LLC acquired a new stake in shares of Advanced Micro Devices in the 4th quarter valued at about $27,000. Basepoint Wealth LLC acquired a new stake in shares of Advanced Micro Devices in the 4th quarter valued at about $30,000. Finally, Graney & King LLC bought a new position in shares of Advanced Micro Devices during the first quarter worth about $31,000. 71.34% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 6,000 shares of the business’s 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 completion of the transaction, the executive vice president directly owned 1,233,687 shares of the company’s stock, valued at $661,663,348.71. The trade was a 0.48% decrease in their position. The transaction 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, Director Nora Denzel sold 8,626 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $522.00, for a total transaction of $4,502,772.00. Following the completion of the transaction, the director owned 87,173 shares of the company’s stock, valued at approximately $45,504,306. This trade represents a 9.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 161,077 shares of company stock worth $74,732,145. 0.50% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on AMD shares. Citigroup upgraded Advanced Micro Devices from a “market perform” rating to a “buy” rating in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. upped their price objective on Advanced Micro Devices from $385.00 to $550.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. The Goldman Sachs Group increased their target price on Advanced Micro Devices from $450.00 to $640.00 and gave the stock a “buy” rating in a report on Monday, July 6th. Mizuho lifted their target price on Advanced Micro Devices from $615.00 to $625.00 and gave the stock an “outperform” rating in a research report on Monday, July 27th. Finally, Morgan Stanley boosted their price target on Advanced Micro Devices from $410.00 to $465.00 and gave the company an “equal weight” rating in a report on Wednesday, August 5th. Three analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $546.87.

More Advanced Micro Devices News

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

• Positive Sentiment: AMD priced a record $4.75 billion senior-notes offering in four tranches maturing from 2029 through 2036. Management plans to use the capital for general corporate purposes, including expanding its AI and data-center businesses. The offering gives AMD additional financial flexibility without issuing shares, although it will increase interest expense. AMD Rises on $4.75 Billion Debt Offering
• Positive Sentiment: Analysts continue to see upside based on accelerating demand for AMD’s AI data-center processors, record data-center revenue, and potential growth in server CPUs. Reported analyst price targets reach as high as $700, supporting the bullish case despite the stock’s large year-to-date advance. AMD Stock Is Up 136% YTD. Why Wall Street Still Sees More Upside
• Positive Sentiment: A quarterly SEC filing disclosed sizable equity stakes in SpaceX and Nutanix. The investments broaden AMD’s strategic exposure to space technology and enterprise infrastructure, though the filing did not establish a direct near-term revenue impact. AMD Filing Reveals Unexpected SpaceX and Nutanix Bet

Advanced Micro Devices Price Performance

Shares of AMD opened at $506.00 on Tuesday. 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 0.03, a current ratio of 2.61 and a quick ratio of 1.91. The stock has a fifty day moving average price of $512.08 and a 200 day moving average price of $370.08. The company has a market cap of $826.03 billion, a P/E ratio of 130.08 and a beta of 2.48.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, August 4th. The semiconductor manufacturer reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. Advanced Micro Devices had a return on equity of 12.30% and a net margin of 15.58%.The company had revenue of $11.54 billion for the quarter, compared to analysts’ expectations of $11.31 billion. During the same period last year, the business posted $0.48 earnings per share. The firm’s quarterly revenue was up 50.1% compared to the same quarter last year. On average, research analysts forecast that Advanced Micro Devices, Inc. will post 6.44 earnings per share 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.