Advanced Micro Devices, Inc. $AMD Shares Purchased by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC boosted its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 10.2% in the second quarter, HoldingsChannel.com reports. The fund owned 11,481 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,065 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Advanced Micro Devices were worth $6,669,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. First National Bank of Hutchinson lifted its stake in Advanced Micro Devices by 0.4% in the 2nd quarter. First National Bank of Hutchinson now owns 5,639 shares of the semiconductor manufacturer’s stock valued at $3,276,000 after buying an additional 22 shares in the last quarter. Delta Asset Management LLC TN raised its holdings in shares of Advanced Micro Devices by 1.5% during the second quarter. Delta Asset Management LLC TN now owns 1,497 shares of the semiconductor manufacturer’s stock valued at $870,000 after acquiring an additional 22 shares during the last quarter. Park Place Capital Corp lifted its position in shares of Advanced Micro Devices by 19.5% in the second quarter. Park Place Capital Corp now owns 141 shares of the semiconductor manufacturer’s stock valued at $82,000 after acquiring an additional 23 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd boosted its stake in shares of Advanced Micro Devices by 12.8% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 212 shares of the semiconductor manufacturer’s stock worth $43,000 after acquiring an additional 24 shares during the last quarter. Finally, Round Rock Advisors LLC increased its position in shares of Advanced Micro Devices by 2.3% during the second quarter. Round Rock Advisors LLC now owns 1,048 shares of the semiconductor manufacturer’s stock worth $609,000 after purchasing an additional 24 shares in the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

Trending Headlines about Advanced Micro Devices

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

• Positive Sentiment: AMD CFO Jean Hu raised the company’s estimated 2030 total addressable market to as much as $3 trillion, up from approximately $2 trillion. The company also increased its long-term server-CPU market estimate, reinforcing the bullish view of AI infrastructure demand. AMD Stock Rises as CFO Claims Its Addressable Market Could Reach $3 Trillion
• Positive Sentiment: Coverage highlights AMD’s growing presence in data centers through EPYC server CPUs, Instinct GPUs and Helios rack-scale systems. The company’s AI hardware and software push, along with its OpenAI GPU relationship, supports the possibility of faster growth relative to Nvidia over the next several years. Prediction: AMD Stock Could Outrun Nvidia Over the Next 3 Years
• Positive Sentiment: A newly discussed, high-end AI workstation capable of running very large models locally expands AMD’s opportunity beyond cloud providers and could appeal to enterprises with sensitive AI workloads. AMD Just Put 300 Billion-Parameter AI Models on a Desktop

Wall Street Analyst Weigh In

A number of research analysts have weighed in on AMD shares. Wolfe Research set a $450.00 price objective on Advanced Micro Devices and gave the company an “outperform” rating in a report on Monday, June 15th. Argus raised their price target on shares of Advanced Micro Devices from $450.00 to $625.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Citigroup raised shares of Advanced Micro Devices from a “market perform” rating to a “buy” rating in a research note on Wednesday, July 22nd. Royal Bank Of Canada reissued a “sector perform” rating and issued a $540.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, August 5th. Finally, KeyCorp set a $650.00 price target on Advanced Micro Devices in a research report on Wednesday, August 5th. Three research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, ten have given 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 price target of $557.62.

Advanced Micro Devices Stock Up 5.9%

Shares of NASDAQ:AMD opened at $505.74 on Wednesday. The company has a market capitalization of $825.61 billion, a price-to-earnings ratio of 130.01, a PEG ratio of 4.95 and a beta of 2.48. Advanced Micro Devices, Inc. has a 12-month low of $149.85 and a 12-month high of $584.73. The business has a 50-day moving average price of $496.46 and a 200 day moving average price of $398.67. The company has a current ratio of 2.61, a quick ratio of 1.91 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, August 4th. The semiconductor manufacturer reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.04. Advanced Micro Devices had a net margin of 15.58% and a return on equity of 12.30%. The company had revenue of $11.54 billion during the quarter, compared to analyst estimates of $11.31 billion. During the same quarter last year, the firm posted $0.48 earnings per share. Advanced Micro Devices’s revenue was up 50.1% compared to the same quarter last year. Sell-side analysts expect that Advanced Micro Devices, Inc. will post 6.44 EPS for the current year.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Paul Grasby sold 15,000 shares of Advanced Micro Devices stock in a transaction on Monday, August 17th. The stock was sold at an average price of $514.91, for a total value of $7,723,650.00. Following the completion of the sale, the executive vice president directly owned 117,687 shares of the company’s stock, valued at approximately $60,598,213.17. The trade was a 11.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Mark Papermaster sold 28,811 shares of the stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $471.87, for a total value of $13,595,046.57. Following the transaction, the executive vice president directly owned 1,261,461 shares in the company, valued at approximately $595,245,602.07. The trade was a 2.23% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 107,577 shares of company stock valued at $51,922,920. Corporate insiders own 0.50% of the company’s stock.

About Advanced Micro Devices

Advanced Micro Devices, Inc (NASDAQ: AMD) is a semiconductor company that designs high-performance computing, graphics and adaptive-processing products. Its portfolio includes central processing units (CPUs), graphics processing units (GPUs), accelerated processing units (APUs), field-programmable gate arrays (FPGAs) and adaptive system-on-chip products.

AMD serves customers across data centers, cloud computing, personal computers, gaming consoles, embedded systems and industrial applications.