Ground Swell Capital LLC Raises Stock Holdings in Advanced Micro Devices, Inc. $AMD

Ground Swell Capital LLC raised its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 48.6% during the first quarter, HoldingsChannel reports. The institutional investor owned 2,970 shares of the semiconductor manufacturer’s stock after purchasing an additional 971 shares during the quarter. Advanced Micro Devices comprises about 1.2% of Ground Swell Capital LLC’s investment portfolio, making the stock its 16th biggest position. Ground Swell Capital LLC’s holdings in Advanced Micro Devices were worth $604,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of AMD. Brighton Jones LLC raised its stake in shares of Advanced Micro Devices by 178.2% in the 4th quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer’s stock valued at $5,551,000 after acquiring an additional 29,438 shares during the period. Revolve Wealth Partners LLC boosted its position in shares of Advanced Micro Devices by 2.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer’s stock worth $1,001,000 after purchasing an additional 234 shares during the period. Sivia Capital Partners LLC boosted its position in shares of Advanced Micro Devices by 125.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 5,344 shares of the semiconductor manufacturer’s stock worth $758,000 after purchasing an additional 2,970 shares during the period. United Bank increased its holdings in Advanced Micro Devices by 22.0% in the 2nd quarter. United Bank now owns 13,255 shares of the semiconductor manufacturer’s stock valued at $1,881,000 after purchasing an additional 2,392 shares during the last quarter. Finally, Schnieders Capital Management LLC. raised its position in Advanced Micro Devices by 361.0% in the second quarter. Schnieders Capital Management LLC. now owns 9,230 shares of the semiconductor manufacturer’s stock valued at $1,310,000 after purchasing an additional 7,228 shares during the period. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Analyst Upgrades and Downgrades

AMD has been the topic of a number of research reports. Loop Capital upgraded Advanced Micro Devices to a “strong-buy” rating in a research note on Tuesday, June 16th. Erste Group Bank upgraded Advanced Micro Devices from a “hold” rating to a “buy” rating in a report on Thursday, April 2nd. Benchmark increased their target price on Advanced Micro Devices from $325.00 to $485.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Melius Research set a $540.00 target price on Advanced Micro Devices in a report on Monday, May 18th. Finally, The Goldman Sachs Group raised Advanced Micro Devices from a “buy” rating to a “buy” rating in a research report on Friday, June 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $440.41.

Key Headlines Impacting Advanced Micro Devices

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

• Positive Sentiment: Wall Street sentiment remains upbeat, with multiple analysts raising AMD price targets in June, including a street-high call from UBS, as firms increasingly view AMD as a bigger player in AI infrastructure and data center CPUs.
• Positive Sentiment: AMD continues to gain credibility in enterprise AI, including recognition from Gartner as a leading server CPU company, which supports the long-term growth case for its data center business. Article Title
• Positive Sentiment: New business wins are also helping sentiment, including a definitive agreement with Rackspace Technology to deploy AMD-based infrastructure, reinforcing demand for AMD chips in cloud and enterprise workloads. Article Title
• Positive Sentiment: Several recent articles argue AMD still has meaningful upside as investors focus on its CPU and AI data center growth, with some bullish commentary suggesting the market may still be underappreciating its long-term earnings power.
• Neutral Sentiment: One recent piece highlighted both the positives and a caution on AMD, noting the stock’s huge six-month run and suggesting investors should stay aware of valuation risk after such a strong rally.
• Negative Sentiment: The semiconductor group has also been under pressure today, with AI chip names, including AMD, softening as momentum in the sector cools and investors rotate out of the space. Article Title
• Negative Sentiment: Bearish/neutral valuation commentary has also picked up, with some coverage questioning whether AMD’s rapid stock gains have already priced in a lot of future growth, which can weigh on the shares in the short term.

Insiders Place Their Bets

In other news, EVP Forrest Eugene Norrod sold 19,487 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was 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 approximately $140,000,947.80. The trade was a 5.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 that occurred on 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 sale, the director owned 87,173 shares in the company, valued at $45,504,306. The trade was a 9.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 378,032 shares of company stock worth $161,876,596. Corporate insiders own 0.50% of the company’s stock.

Advanced Micro Devices Stock Down 2.1%

Shares of NASDAQ AMD opened at $521.58 on Friday. The stock has a market cap of $850.49 billion, a P/E ratio of 171.01, a PEG ratio of 1.57 and a beta of 2.50. The business’s fifty day simple moving average is $445.21 and its 200-day simple moving average is $296.11. Advanced Micro Devices, Inc. has a 12-month low of $133.50 and a 12-month high of $562.99. 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, May 5th. The semiconductor manufacturer reported $1.37 EPS for the quarter, topping the consensus estimate of $1.29 by $0.08. Advanced Micro Devices had a return on equity of 9.55% and a net margin of 13.37%.The firm had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $9.90 billion. During the same period in the previous year, the firm posted $0.96 EPS. Advanced Micro Devices’s revenue for the quarter was up 37.8% on a year-over-year basis. As a group, equities analysts predict that Advanced Micro Devices, Inc. will post 6.15 EPS for the current fiscal year.

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.