Redstone Wealth Management LLC Takes $857,000 Position in Advanced Micro Devices, Inc. $AMD

Redstone Wealth Management LLC purchased a new stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 4,000 shares of the semiconductor manufacturer’s stock, valued at approximately $857,000. Advanced Micro Devices makes up 0.7% of Redstone Wealth Management LLC’s portfolio, making the stock its 18th largest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Advanced Micro Devices by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 158,522,860 shares of the semiconductor manufacturer’s stock valued at $33,949,256,000 after buying an additional 2,525,109 shares during the period. State Street Corp increased its position in shares of Advanced Micro Devices by 2.4% during the third quarter. State Street Corp now owns 73,824,441 shares of the semiconductor manufacturer’s stock valued at $11,944,056,000 after buying an additional 1,755,182 shares during the period. Amundi increased its position in shares of Advanced Micro Devices by 17.5% during the third quarter. Amundi now owns 13,486,227 shares of the semiconductor manufacturer’s stock valued at $2,181,937,000 after buying an additional 2,012,865 shares during the period. Invesco Ltd. increased its position in shares of Advanced Micro Devices by 6.5% during the third quarter. Invesco Ltd. now owns 13,348,413 shares of the semiconductor manufacturer’s stock valued at $2,159,640,000 after buying an additional 813,844 shares during the period. Finally, Legal & General Group Plc increased its position in shares of Advanced Micro Devices by 1.7% during the third quarter. Legal & General Group Plc now owns 11,579,113 shares of the semiconductor manufacturer’s stock valued at $1,873,385,000 after buying an additional 191,590 shares during the period. 71.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wall Street Zen raised Advanced Micro Devices from a “hold” rating to a “buy” rating in a report on Monday, January 26th. HSBC lowered Advanced Micro Devices from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $335.00 to $340.00 in a report on Monday, May 4th. Truist Financial set a $478.00 price objective on Advanced Micro Devices in a report on Wednesday, May 6th. Benchmark boosted their price objective on Advanced Micro Devices from $325.00 to $485.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, Citigroup boosted their price objective on Advanced Micro Devices from $358.00 to $460.00 and gave the stock a “neutral” rating in a report on Monday, May 18th. Two research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $410.00.

Insider Buying and Selling

In other news, EVP Mark D. Papermaster sold 31,320 shares of the stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $350.00, for a total transaction of $10,962,000.00. Following the completion of the sale, the executive vice president owned 1,236,037 shares of the company’s stock, valued at approximately $432,612,950. This represents a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Forrest Eugene Norrod sold 19,487 shares of the stock in a transaction that occurred on 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 sale, the executive vice president directly owned 324,527 shares of the company’s stock, valued at approximately $140,000,947.80. This trade represents a 5.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 329,085 shares of company stock worth $114,051,007. 0.50% of the stock is owned by company insiders.

Advanced Micro Devices Price Performance

Shares of AMD opened at $467.51 on Monday. The firm has a market cap of $762.32 billion, a P/E ratio of 153.28, a P/E/G ratio of 1.37 and a beta of 2.40. The stock has a 50 day simple moving average of $297.43 and a two-hundred day simple moving average of $246.77. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.72 and a quick ratio of 1.96. Advanced Micro Devices, Inc. has a 1 year low of $107.67 and a 1 year high of $481.41.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.08. The business had revenue of $10.25 billion during the quarter, compared to analyst estimates of $9.90 billion. Advanced Micro Devices had a return on equity of 9.55% and a net margin of 13.37%.Advanced Micro Devices’s revenue for the quarter was up 37.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.96 earnings per share. On average, analysts forecast that Advanced Micro Devices, Inc. will post 6.2 earnings per share for the current fiscal year.

More Advanced Micro Devices News

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

• Positive Sentiment: CEO Lisa Su said AMD expects strong CPU growth over the next five years, helping fuel optimism about long-term demand for its data center chips. AMD Stock Rallies as Lisa Su Expects CPU Growth of ‘35% Each Year’ for the Next 5 Years
• Positive Sentiment: AMD began ramping production of its “Venice” EPYC CPUs on TSMC’s 2nm node, a major manufacturing milestone that supports its AI and server growth story. AMD Announces Production Ramp of Next-Generation AMD EPYC Processor “Venice” on TSMC 2nm Process Technology
• Positive Sentiment: AMD announced more than $10 billion of investment across Taiwan’s AI ecosystem to expand advanced packaging capacity and support future AI deployments, including the Helios rack-scale platform. AMD Announces More Than $10 Billion in Taiwan Ecosystem Investments to Accelerate AI Infrastructure
• Positive Sentiment: Nvidia’s strong AI commentary and broader chip-sector momentum are boosting confidence that AMD will benefit from continued AI infrastructure spending. AMD Stock (AMD) Hits All-Time High as Nvidia Earnings Boost Confidence in the AI Trade
• Neutral Sentiment: Some commentary suggests AMD’s sharp rally has already priced in a lot of good news, so investors may continue debating valuation after the recent run-up. After a Q1 Blowout and a Soaring Share Price, Is AMD Stock Still a Buy?

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.