iA Global Asset Management Inc. Raises Holdings in Advanced Micro Devices, Inc. $AMD

iA Global Asset Management Inc. grew its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 7.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 202,412 shares of the semiconductor manufacturer’s stock after purchasing an additional 14,482 shares during the quarter. iA Global Asset Management Inc.’s holdings in Advanced Micro Devices were worth $43,349,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Guardian Capital LLC purchased a new position in shares of Advanced Micro Devices during the fourth quarter worth about $600,000. Chancellor Financial Group WB LP purchased a new position in shares of Advanced Micro Devices during the fourth quarter worth about $208,000. May Hill Capital LLC grew its holdings in shares of Advanced Micro Devices by 135.2% during the fourth quarter. May Hill Capital LLC now owns 3,184 shares of the semiconductor manufacturer’s stock worth $682,000 after purchasing an additional 1,830 shares during the last quarter. Hendley & Co. Inc. acquired a new stake in shares of Advanced Micro Devices during the fourth quarter worth about $1,668,000. Finally, Millennium Capital Advisors LLC purchased a new position in shares of Advanced Micro Devices during the fourth quarter worth about $240,000. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Price Performance

Shares of NASDAQ:AMD opened at $424.10 on Friday. The company has a quick ratio of 1.96, a current ratio of 2.72 and a debt-to-equity ratio of 0.04. The company has a market cap of $691.54 billion, a P/E ratio of 139.05, a PEG ratio of 1.26 and a beta of 2.40. Advanced Micro Devices, Inc. has a 52 week low of $107.67 and a 52 week high of $469.21. The company has a 50-day moving average price of $273.49 and a 200 day moving average price of $240.52.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.08. The firm had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $9.90 billion. Advanced Micro Devices had a net margin of 13.37% and a return on equity of 9.55%. The firm’s revenue was up 37.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.96 earnings per share. Research analysts predict that Advanced Micro Devices, Inc. will post 6.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Stifel Nicolaus raised their price target on Advanced Micro Devices from $320.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. BTIG Research raised Advanced Micro Devices to a “buy” rating in a report on Wednesday, May 6th. Truist Financial set a $478.00 price target on Advanced Micro Devices in a report on Wednesday, May 6th. Weiss Ratings raised Advanced Micro Devices from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Finally, Raymond James Financial assumed coverage on Advanced Micro Devices in a report on Wednesday, May 6th. They set a “market perform” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, Advanced Micro Devices has an average rating of “Moderate Buy” and an average target price of $396.95.

Insider Activity at Advanced Micro Devices

In related news, EVP Paul Darren Grasby sold 24,376 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $444.39, for a total value of $10,832,450.64. Following the completion of the sale, the executive vice president owned 105,222 shares in the company, valued at $46,759,604.58. This trade represents a 18.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Lisa T. Su sold 125,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $445.51, for a total transaction of $55,688,750.00. Following the completion of the sale, the chief executive officer owned 3,021,899 shares of the company’s stock, valued at approximately $1,346,286,223.49. The trade was a 3.97% 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. Insiders sold a total of 309,598 shares of company stock worth $105,644,316 over the last 90 days. Company insiders own 0.50% of the company’s stock.

Key Headlines Impacting Advanced Micro Devices

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

• Positive Sentiment: Q1 earnings and revenue both topped expectations, with data center sales up sharply on strong demand for EPYC CPUs and Instinct GPUs.
• Positive Sentiment: Several analysts raised price targets after the earnings report, citing AMD’s accelerating AI and data center growth.
• Positive Sentiment: AMD expanded FSR 4.1 support to older GPUs and introduced new Ryzen PRO 9000 offerings, reinforcing product momentum in client and gaming.

Advanced Micro Devices 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.