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

Zweig DiMenna Associates LLC lessened its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 53.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,759 shares of the semiconductor manufacturer’s stock after selling 39,820 shares during the quarter. 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.

A number of other institutional investors also recently modified their holdings of the stock. Norges Bank bought a new stake in shares of Advanced Micro Devices during the fourth quarter valued at approximately $4,929,312,000. Jennison Associates LLC increased its holdings in shares of Advanced Micro Devices by 181.6% in the fourth quarter. Jennison Associates LLC now owns 10,910,310 shares of the semiconductor manufacturer’s stock valued at $2,336,552,000 after purchasing an additional 7,035,991 shares in the last quarter. Cardano Risk Management B.V. bought a new position in Advanced Micro Devices in the 4th quarter worth approximately $1,000,783,000. Wellington Management Group LLP raised its position in Advanced Micro Devices by 335.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,847,825 shares of the semiconductor manufacturer’s stock worth $784,330,000 after purchasing an additional 3,735,807 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Advanced Micro Devices by 340.1% during the 4th quarter. Franklin Resources Inc. now owns 4,747,834 shares of the semiconductor manufacturer’s stock worth $1,016,796,000 after buying an additional 3,669,054 shares in the last quarter. 71.34% of the stock is owned by institutional investors.

Key Headlines Impacting Advanced Micro Devices

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

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Barclays lowered Advanced Micro Devices from an “overweight” rating to an “underweight” rating in a research report on Friday, June 12th. Wolfe Research set a $450.00 price target on Advanced Micro Devices and gave the company an “outperform” rating in a research note on Monday, June 15th. TD Cowen raised their price target on Advanced Micro Devices from $600.00 to $675.00 and gave the company a “buy” rating in a report on Monday. Northland Securities reiterated a “market perform” rating and issued a $260.00 price objective on shares of Advanced Micro Devices in a research report on Monday, April 27th. Finally, Bank of America lifted their price objective on Advanced Micro Devices from $550.00 to $620.00 and gave the stock a “buy” rating in a research report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $467.84.

Insider Activity

In other news, EVP Mark D. Papermaster sold 31,320 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president directly owned 1,236,037 shares in the company, valued at approximately $432,612,950. The trade was a 2.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 dated 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 completion of the sale, the director directly owned 87,173 shares of the company’s stock, valued at approximately $45,504,306. This trade represents a 9.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 368,739 shares of company stock valued at $159,602,431. Insiders own 0.50% of the company’s stock.

Advanced Micro Devices Stock Performance

AMD stock opened at $548.13 on Wednesday. The business’s fifty day moving average is $499.06 and its 200-day moving average is $324.25. The company has a quick ratio of 1.96, a current ratio of 2.72 and a debt-to-equity ratio of 0.04. The company has a market cap of $893.78 billion, a P/E ratio of 179.72, a price-to-earnings-growth ratio of 1.57 and a beta of 2.47. Advanced Micro Devices, Inc. has a twelve month low of $149.22 and a twelve month high of $584.73.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.08. The business had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $9.90 billion. Advanced Micro Devices had a return on equity of 9.55% and a net margin of 13.37%.The firm’s quarterly revenue was up 37.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.96 earnings per share. Equities research analysts forecast that Advanced Micro Devices, Inc. will post 6.18 EPS for the current year.

Advanced Micro Devices Company 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.