Envestnet Asset Management Inc. Buys 257,351 Shares of Advanced Micro Devices, Inc. $AMD

Envestnet Asset Management Inc. boosted its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 33.0% during the 2nd quarter, Holdings Channel reports. The firm owned 1,038,346 shares of the semiconductor manufacturer’s stock after buying an additional 257,351 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Advanced Micro Devices were worth $649,385,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Southpoint Capital Advisors LP raised its holdings in shares of Advanced Micro Devices by 50.0% during the 1st quarter. Southpoint Capital Advisors LP now owns 900,000 shares of the semiconductor manufacturer’s stock worth $183,087,000 after acquiring an additional 300,000 shares in the last quarter. Boomfish Wealth Group LLC purchased a new position in shares of Advanced Micro Devices in the first quarter valued at $1,193,000. Dimensional Fund Advisors LP grew its holdings in shares of Advanced Micro Devices by 6.0% in the first quarter. Dimensional Fund Advisors LP now owns 5,142,516 shares of the semiconductor manufacturer’s stock valued at $1,045,954,000 after purchasing an additional 291,165 shares in the last quarter. Williamson Legacy Group LLC purchased a new position in shares of Advanced Micro Devices in the fourth quarter valued at $1,118,000. Finally, Thoroughbred Financial Services LLC increased its position in Advanced Micro Devices by 8.8% in the fourth quarter. Thoroughbred Financial Services LLC now owns 32,827 shares of the semiconductor manufacturer’s stock worth $7,030,000 after purchasing an additional 2,654 shares during the last quarter. Institutional investors own 71.34% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on AMD. Susquehanna upped their price target on shares of Advanced Micro Devices from $450.00 to $500.00 and gave the company a “positive” rating in a research note on Thursday, July 30th. Citigroup raised shares of Advanced Micro Devices from a “market perform” rating to a “buy” rating in a research note on Wednesday, July 22nd. DA Davidson upped their target price on shares of Advanced Micro Devices from $425.00 to $550.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Wells Fargo & Company increased their price target on shares of Advanced Micro Devices from $615.00 to $700.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Finally, Jefferies Financial Group set a $650.00 price target on Advanced Micro Devices in a research report on Wednesday, August 5th. Three analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $565.12.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Jean X. Hu sold 15,000 shares of the company’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $474.08, for a total value of $7,111,200.00. Following the transaction, the executive vice president owned 160,979 shares of the company’s stock, valued at $76,316,924.32. This represents a 8.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lisa T. Su sold 25,000 shares of the stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $506.79, for a total value of $12,669,750.00. Following the completion of the sale, the chief executive officer owned 74,211 shares in the company, valued at approximately $37,609,392.69. The trade was a 25.20% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 213,838 shares of company stock valued at $105,533,836. Company insiders own 0.50% of the company’s stock.

More Advanced Micro Devices News

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

• Positive Sentiment: AMD’s crossing of the $1 trillion market-cap milestone reflects strong investor confidence in its artificial-intelligence growth prospects. The company has benefited from expanding data-center deployments, major customer relationships and optimism that it can become a broader AI-computing platform. AMD Just Joined the $1 Trillion Club
• Positive Sentiment: CEO Lisa Su’s comments that mainstream “agentic AI” could drive a new CPU demand wave are supporting the bullish case for AMD’s EPYC processors and Instinct accelerators. Recent quarterly data-center revenue growth of 107% year over year has reinforced that outlook. CPUs Are Hot Again
• Positive Sentiment: Some analysts and strategists believe the rally can continue, with bullish commentary pointing to additional upside as Wall Street revises AMD’s earnings and price-target assumptions higher. AMD Just Cracked $1 Trillion

Advanced Micro Devices Trading Down 1.5%

NASDAQ:AMD traded down $9.16 during mid-day trading on Wednesday, hitting $614.61. 16,287,319 shares of the stock traded hands, compared to its average volume of 33,389,879. The company has a quick ratio of 1.91, a current ratio of 2.61 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a 52 week low of $154.78 and a 52 week high of $624.69. The stock has a market capitalization of $1.00 trillion, a price-to-earnings ratio of 158.00, a PEG ratio of 6.38 and a beta of 2.48. The firm’s 50 day moving average is $497.38 and its two-hundred day moving average is $422.43.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, August 4th. The semiconductor manufacturer reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.04. Advanced Micro Devices had a net margin of 15.58% and a return on equity of 12.30%. The business had revenue of $11.54 billion during the quarter, compared to the consensus estimate of $11.31 billion. During the same quarter last year, the firm earned $0.48 earnings per share. The firm’s quarterly revenue was up 50.1% compared to the same quarter last year. On average, equities research analysts predict that Advanced Micro Devices, Inc. will post 6.43 earnings per share for the current year.

About Advanced Micro Devices

Advanced Micro Devices, Inc (NASDAQ: AMD) is a semiconductor company that designs high-performance computing, graphics and adaptive-processing products. Its portfolio includes central processing units (CPUs), graphics processing units (GPUs), accelerated processing units (APUs), field-programmable gate arrays (FPGAs) and adaptive system-on-chip products.

AMD serves customers across data centers, cloud computing, personal computers, gaming consoles, embedded systems and industrial applications.