Zweig DiMenna Associates LLC Sells 39,820 Shares of Advanced Micro Devices, Inc. $AMD

Zweig DiMenna Associates LLC trimmed its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 53.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,759 shares of the semiconductor manufacturer’s stock after selling 39,820 shares during the period. Zweig DiMenna Associates LLC’s holdings in Advanced Micro Devices were worth $7,071,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Joseph Group Capital Management acquired a new position in shares of Advanced Micro Devices in the 4th quarter valued at approximately $25,000. Sarver Vrooman Wealth Advisors acquired a new stake in Advanced Micro Devices during the 4th quarter worth approximately $27,000. Cornerstone Financial Management LLC acquired a new stake in Advanced Micro Devices during the 4th quarter worth approximately $27,000. Basepoint Wealth LLC bought a new position in Advanced Micro Devices in the fourth quarter valued at approximately $30,000. Finally, Wilkerson Advisory Group LLC acquired a new position in shares of Advanced Micro Devices in the fourth quarter valued at approximately $33,000. 71.34% of the stock is currently owned by institutional investors.

Insider Activity at Advanced Micro Devices

In other news, Director Nora Denzel sold 8,626 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $522.00, for a total value of $4,502,772.00. Following the completion of the transaction, the director owned 87,173 shares in the company, valued at $45,504,306. This trade represents a 9.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Forrest Eugene Norrod sold 19,487 shares of Advanced Micro Devices stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $431.40, for a total value of $8,406,691.80. Following the completion of the sale, the executive vice president directly owned 324,527 shares in the company, valued at approximately $140,000,947.80. This represents a 5.66% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 368,739 shares of company stock worth $159,602,431. Corporate insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Royal Bank Of Canada increased their price objective on shares of Advanced Micro Devices from $325.00 to $400.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 6th. Loop Capital raised shares of Advanced Micro Devices to a “strong-buy” rating in a research note on Tuesday, June 16th. Jefferies Financial Group lowered shares of Advanced Micro Devices from a “buy” rating to a “hold” rating in a research note on Wednesday, May 6th. Citigroup cut Advanced Micro Devices from a “buy” rating to a “market perform” rating in a report on Friday, June 12th. Finally, Bank of America lifted their price target on Advanced Micro Devices from $550.00 to $620.00 and gave the company a “buy” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Advanced Micro Devices has a consensus rating of “Moderate Buy” and a consensus price target of $467.84.

Advanced Micro Devices Stock Performance

Shares of AMD stock opened at $548.13 on Wednesday. Advanced Micro Devices, Inc. has a 12 month low of $149.22 and a 12 month high of $584.73. The company’s fifty day simple moving average is $499.06 and its 200-day simple moving average is $324.25. The firm has a market cap of $893.78 billion, a PE ratio of 179.72, a P/E/G ratio of 1.57 and a beta of 2.47. The company has a quick ratio of 1.96, a current ratio of 2.72 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 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 the consensus estimate of $9.90 billion. During the same quarter last year, the firm earned $0.96 earnings per share. The firm’s revenue for the quarter was up 37.8% compared to the same quarter last year. Equities research analysts expect that Advanced Micro Devices, Inc. will post 6.18 EPS for the current fiscal year.

Advanced Micro Devices News Roundup

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

• Positive Sentiment: Several analysts raised price targets on AMD, including Bank of America to $620 and KeyBanc to $725, reinforcing the view that the stock still has meaningful upside tied to its AI and server businesses. Benzinga report on Bank of America target hike
• Positive Sentiment: Investors are also reacting to expectations that AMD could deliver a beat-and-raise quarter, with Bank of America citing surging demand for EPYC CPUs and AI accelerators. Barchart article on AMD beat-and-raise expectations
• Positive Sentiment: Broader semiconductor shares rebounded after Monday’s selloff as war and supply-chain fears eased, lifting AMD along with peers like Nvidia and Intel. Yahoo Finance article on chip rebound
• Positive Sentiment: Reports that AMD is following Nvidia’s playbook in AI infrastructure, plus news of its AI Developer Program and other AI ecosystem activity, added to optimism that AMD is strengthening its long-term competitive position in AI. Barchart article on AMD following Nvidia’s playbook
• Neutral Sentiment: AMD also benefited from a positive shift in China’s AI chips outlook, which helped improve the tone across the semiconductor sector. TipRanks article on China AI chips scenario
• Negative Sentiment: Some reports still point to near-term volatility, including recent selling pressure from macro and geopolitical worries, even as the stock has since bounced. Benzinga article on AMD drop from supply-chain fears

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.