Clearwater Capital Advisors LLC Invests $226,000 in Advanced Micro Devices, Inc. $AMD

Clearwater Capital Advisors LLC acquired a new position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,110 shares of the semiconductor manufacturer’s stock, valued at approximately $226,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Joseph Group Capital Management purchased a new position in Advanced Micro Devices in the fourth quarter worth $25,000. Cornerstone Financial Management LLC purchased a new stake in shares of Advanced Micro Devices during the 4th quarter valued at $27,000. Sarver Vrooman Wealth Advisors purchased a new stake in shares of Advanced Micro Devices during the 4th quarter valued at $27,000. Basepoint Wealth LLC acquired a new stake in shares of Advanced Micro Devices in the 4th quarter worth $30,000. Finally, Wilkerson Advisory Group LLC acquired a new stake in shares of Advanced Micro Devices in the 4th quarter worth $33,000. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Trading Up 1.5%

Shares of NASDAQ:AMD opened at $552.33 on Thursday. 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, Inc. has a 52-week low of $149.22 and a 52-week high of $584.73. The stock has a market cap of $900.63 billion, a price-to-earnings ratio of 181.09, a PEG ratio of 1.58 and a beta of 2.47. The business has a 50-day moving average price of $508.85 and a 200-day moving average price of $337.19.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $9.90 billion. During the same quarter in the prior year, the company earned $0.96 EPS. Advanced Micro Devices’s quarterly revenue was up 37.8% on a year-over-year basis. Equities analysts predict that Advanced Micro Devices, Inc. will post 6.25 EPS for the current year.

Insiders Place Their Bets

In other news, Director Nora Denzel sold 8,626 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $522.00, for a total value of $4,502,772.00. Following the sale, the director owned 87,173 shares in the company, valued at $45,504,306. This represents a 9.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Forrest Eugene Norrod sold 19,487 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $431.40, for a total transaction of $8,406,691.80. Following the transaction, the executive vice president owned 324,527 shares of the company’s stock, valued at $140,000,947.80. This represents a 5.66% decrease in their ownership of the stock. 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 three months, insiders sold 341,630 shares of company stock worth $152,147,456. Company insiders own 0.50% of the company’s stock.

Key Stories Impacting Advanced Micro Devices

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

• Positive Sentiment: Anthropic’s multi-year plan to deploy up to 2GW of AMD Instinct MI450 GPUs could become a major new revenue stream for AMD. AMD and Anthropic Sign Major Chips-and-Investment Deal
• Positive Sentiment: AMD’s planned investment in Anthropic signals a deeper strategic alliance and could help the company win more AI infrastructure customers. AMD to invest up to $5 billion in Anthropic, WSJ Reports
• Positive Sentiment: Analysts are becoming more confident that the Anthropic deal can improve AMD’s long-term revenue outlook and help narrow the gap with Nvidia. AMD Stock Rises as Wells Fargo Gains ‘Further Confidence’ in Revenue after Anthropic Deal
• Neutral Sentiment: AMD also remains in focus ahead of its Aug. 4 earnings report and upcoming AI event, keeping expectations elevated for more customer wins and product updates.

Analyst Ratings Changes

Several brokerages recently issued reports on AMD. The Goldman Sachs Group upped their target price on Advanced Micro Devices from $450.00 to $640.00 and gave the company a “buy” rating in a research report on Monday, July 6th. Wolfe Research set a $450.00 price target on Advanced Micro Devices and gave the stock an “outperform” rating in a report on Monday, June 15th. Rosenblatt Securities boosted their price target on Advanced Micro Devices from $300.00 to $490.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Seaport Research Partners raised shares of Advanced Micro Devices from a “neutral” rating to a “buy” rating and set a $430.00 price objective for the company in a research report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Advanced Micro Devices from $270.00 to $385.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $468.65.

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.