Perkins Capital Management Inc. Has $3.15 Million Stock Position in Advanced Micro Devices, Inc. $AMD

Perkins Capital Management Inc. reduced its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 12.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,504 shares of the semiconductor manufacturer’s stock after selling 2,150 shares during the quarter. Advanced Micro Devices makes up approximately 3.0% of Perkins Capital Management Inc.’s investment portfolio, making the stock its 8th largest position. Perkins Capital Management Inc.’s holdings in Advanced Micro Devices were worth $3,154,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Advanced Micro Devices by 1.6% in the 4th 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 grew its stake in Advanced Micro Devices by 1.5% in the fourth quarter. State Street Corp now owns 74,919,276 shares of the semiconductor manufacturer’s stock worth $16,044,712,000 after purchasing an additional 1,094,835 shares in the last quarter. Geode Capital Management LLC grew its stake in Advanced Micro Devices by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 37,584,845 shares of the semiconductor manufacturer’s stock worth $8,015,897,000 after purchasing an additional 287,525 shares in the last quarter. Norges Bank purchased a new position in Advanced Micro Devices during the 4th quarter worth $4,929,312,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in Advanced Micro Devices by 0.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,325,288 shares of the semiconductor manufacturer’s stock worth $4,352,864,000 after purchasing an additional 55,969 shares during the period. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Wall Street Analysts Forecast Growth

AMD has been the subject of several research reports. HSBC cut Advanced Micro Devices from a “buy” rating to a “hold” rating and upped their target price for the stock from $335.00 to $340.00 in a report on Monday, May 4th. Stifel Nicolaus raised their price target on Advanced Micro Devices from $320.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Zacks Research downgraded Advanced Micro Devices from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 3rd. Bank of America upped their price objective on shares of Advanced Micro Devices from $500.00 to $560.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. Finally, Barclays cut shares of Advanced Micro Devices from an “overweight” rating to an “underweight” rating in a report on Friday, June 12th. Two research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $448.78.

Insider Buying and Selling

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 19,487 shares of the business’s 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 transaction, the executive vice president directly owned 324,527 shares in the company, 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 document filed 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 stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $522.00, for a total transaction of $4,502,772.00. Following the sale, the director directly owned 87,173 shares of the company’s stock, valued at approximately $45,504,306. The trade was a 9.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 378,032 shares of company stock valued at $161,876,596 over the last three months. Corporate insiders own 0.50% of the company’s stock.

Advanced Micro Devices Trading Up 7.7%

Shares of NASDAQ:AMD opened at $580.91 on Wednesday. Advanced Micro Devices, Inc. has a 12-month low of $133.50 and a 12-month high of $584.73. The business’s fifty day simple moving average is $456.48 and its 200-day simple moving average is $301.41. The company has a market capitalization of $947.23 billion, a PE ratio of 190.46, a P/E/G ratio of 1.59 and a beta of 2.50. 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 quarterly 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. The firm 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%.The business’s revenue for the quarter was up 37.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.96 EPS. As a group, equities research analysts predict that Advanced Micro Devices, Inc. will post 6.15 earnings per share for the current fiscal year.

Advanced Micro Devices News Roundup

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

• Positive Sentiment: Wells Fargo raised its AMD price target to $615 from $505, citing stronger server CPU demand and better long-term visibility. Article Title
• Positive Sentiment: More Wall Street firms are turning bullish on AMD as AI infrastructure spending broadens beyond Nvidia and into chip suppliers. Article Title
• Positive Sentiment: AMD’s strong AI and data center growth narrative continues to attract momentum buyers and options traders. Article Title
• Neutral Sentiment: AMD has seen unusually heavy insider selling over the past six months, which may temper some investor enthusiasm. Article Title

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.