23,016,960 Shares in Advanced Micro Devices, Inc. $AMD Acquired by Norges Bank

Norges Bank purchased a new position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 23,016,960 shares of the semiconductor manufacturer’s stock, valued at approximately $4,929,312,000. Advanced Micro Devices accounts for 0.5% of Norges Bank’s holdings, making the stock its 24th biggest position.

Several other institutional investors have also made changes to their positions in the stock. James J. Burns & Company LLC boosted its holdings in shares of Advanced Micro Devices by 2.3% during the fourth quarter. James J. Burns & Company LLC now owns 1,816 shares of the semiconductor manufacturer’s stock worth $389,000 after purchasing an additional 40 shares during the period. Cassaday & Co Wealth Management LLC boosted its holdings in shares of Advanced Micro Devices by 0.9% during the fourth quarter. Cassaday & Co Wealth Management LLC now owns 4,912 shares of the semiconductor manufacturer’s stock worth $1,052,000 after purchasing an additional 43 shares during the period. Willis Johnson & Associates Inc. boosted its holdings in shares of Advanced Micro Devices by 1.9% during the fourth quarter. Willis Johnson & Associates Inc. now owns 2,304 shares of the semiconductor manufacturer’s stock worth $493,000 after purchasing an additional 44 shares during the period. Addison Advisors LLC boosted its holdings in shares of Advanced Micro Devices by 12.7% during the third quarter. Addison Advisors LLC now owns 400 shares of the semiconductor manufacturer’s stock worth $65,000 after purchasing an additional 45 shares during the period. Finally, Smith Moore & CO. boosted its holdings in shares of Advanced Micro Devices by 1.1% during the third quarter. Smith Moore & CO. now owns 3,962 shares of the semiconductor manufacturer’s stock worth $641,000 after purchasing an additional 45 shares during the period. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Lisa T. Su sold 125,000 shares of Advanced Micro Devices stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $445.51, for a total value of $55,688,750.00. Following the transaction, the chief executive officer owned 3,021,899 shares of the company’s stock, valued at $1,346,286,223.49. This trade represents a 3.97% 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 Advanced Micro Devices stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 324,527 shares in the company, valued at approximately $140,000,947.80. This represents a 5.66% 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 ninety days, insiders sold 329,085 shares of company stock worth $114,051,007. 0.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on AMD shares. Rosenblatt Securities lifted their target price on shares of Advanced Micro Devices from $300.00 to $490.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Stifel Nicolaus lifted their target price on shares of Advanced Micro Devices from $320.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Phillip Securities upgraded shares of Advanced Micro Devices from a “moderate buy” rating to a “strong-buy” rating in a research note on Sunday, February 8th. Sanford C. Bernstein upgraded shares of Advanced Micro Devices from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $265.00 to $525.00 in a research note on Wednesday, May 6th. Finally, TD Cowen lifted their target price on shares of Advanced Micro Devices from $290.00 to $500.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Two 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $410.00.

Advanced Micro Devices Trading Down 0.4%

NASDAQ:AMD opened at $516.03 on Friday. Advanced Micro Devices, Inc. has a 12 month low of $108.62 and a 12 month high of $527.20. The firm has a market cap of $841.43 billion, a price-to-earnings ratio of 169.19, a P/E/G ratio of 1.52 and a beta of 2.40. 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’s 50 day moving average is $327.78 and its 200-day moving average is $255.70.

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, beating analysts’ consensus estimates 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 analyst estimates of $9.90 billion. During the same quarter last year, the firm posted $0.96 earnings per share. The company’s quarterly revenue was up 37.8% compared to the same quarter last year. Equities analysts anticipate that Advanced Micro Devices, Inc. will post 6.2 EPS for the current year.

Trending Headlines about Advanced Micro Devices

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

• Positive Sentiment: Multiple articles highlighted AMD’s expanding AI and data center opportunity, including bullish takes that the company could be a major winner in the next AI cycle and that Wall Street sees a much larger market opportunity ahead. AMD Could Be the Biggest Winner in the Next AI Battle
• Positive Sentiment: Analyst commentary remained constructive overall, with reports pointing to continued upside potential from AMD’s rapid data center expansion and AI infrastructure demand. Prediction: AMD’s Rapid Data Center Expansion Fuels Bullish Target
• Neutral Sentiment: AMD CEO Lisa Su’s China trip and MIT commencement speech kept the company in the news, but the coverage was mostly about leadership presence and AI messaging rather than a direct business catalyst. In China, AMD CEO Lisa Su is understated while Nvidia’s Huang is more razzmatazz
• Neutral Sentiment: Rocket One’s acceptance into AMD’s AI Developer Program added another ecosystem-related headline, but the near-term financial impact appears limited. Rocket One Accepted into AMD AI Developer Program
• Negative Sentiment: Several pieces urged caution after AMD’s sharp run-up, including a Seeking Alpha downgrade calling the top and an article noting that there may be less room for mistakes at current levels. AMD: Ring, Ring – The Top Is Calling (Downgrade)
• Negative Sentiment: ARK Invest’s Cathie Wood trimmed her AMD stake, adding to investor concerns that some funds may be taking profits after the stock’s strong rally. Ark Investment’s Cathie Wood Just Trimmed Her AMD Stake

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.