Fifth Third Bancorp Purchases 78,813 Shares of Advanced Micro Devices, Inc. $AMD

Fifth Third Bancorp grew its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 14.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 638,406 shares of the semiconductor manufacturer’s stock after buying an additional 78,813 shares during the quarter. Advanced Micro Devices accounts for 0.6% of Fifth Third Bancorp’s holdings, making the stock its 28th biggest position. Fifth Third Bancorp’s holdings in Advanced Micro Devices were worth $390,551,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Advanced Micro Devices by 3.1% during the second quarter. BlackRock Inc. now owns 150,301,510 shares of the semiconductor manufacturer’s stock valued at $87,311,650,000 after acquiring an additional 4,535,126 shares during the last quarter. State Street Corp lifted its holdings in Advanced Micro Devices by 2.9% during the second quarter. State Street Corp now owns 76,920,783 shares of the semiconductor manufacturer’s stock worth $46,606,266,000 after acquiring an additional 2,149,563 shares during the period. Bank of America Corp DE bought a new stake in Advanced Micro Devices during the second quarter worth $7,022,226,000. Jennison Associates LLC boosted its position in Advanced Micro Devices by 5.8% in the second quarter. Jennison Associates LLC now owns 9,972,952 shares of the semiconductor manufacturer’s stock worth $5,793,388,000 after purchasing an additional 545,575 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in Advanced Micro Devices by 33.9% in the second quarter. Wellington Management Group LLP now owns 9,334,396 shares of the semiconductor manufacturer’s stock worth $5,422,444,000 after purchasing an additional 2,365,419 shares during the last quarter. Institutional investors own 71.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Union Gaming Research restated a “positive” rating on shares of Advanced Micro Devices in a research note on Wednesday, November 4th. Stifel Nicolaus lifted their target price on Advanced Micro Devices from $700.00 to $725.00 and gave the stock a “buy” rating in a research note on Wednesday, November 4th. Weiss Ratings downgraded shares of Advanced Micro Devices from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, November 4th. Wolfe Research restated an “outperform” rating and set a $650.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, November 4th. Finally, Wells Fargo & Company reduced their price target on shares of Advanced Micro Devices from $700.00 to $650.00 and set an “overweight” rating for the company in a research report on Wednesday, November 4th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $642.47.

Advanced Micro Devices Stock Performance

Shares of AMD opened at $552.90 on Thursday. The firm has a market cap of $906.81 billion, a PE ratio of 120.20, a PEG ratio of 4.96 and a beta of 2.49. The stock’s fifty day moving average price is $550.43 and its two-hundred day moving average price is $419.05. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.72 and a quick ratio of 1.93. Advanced Micro Devices, Inc. has a 1 year low of $188.22 and a 1 year high of $658.52.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, November 3rd. The semiconductor manufacturer reported $2.09 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.14. The company had revenue of $13.38 billion during the quarter, compared to the consensus estimate of $13.10 billion. Advanced Micro Devices had a return on equity of 14.15% and a net margin of 16.77%. The firm’s quarterly revenue was up 44.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.20 EPS. On average, equities research analysts forecast that Advanced Micro Devices, Inc. will post 6.93 EPS for the current year.

Advanced Micro Devices News Summary

These are some of the AMD news items that stood out recently:

• Positive Sentiment: Google’s selection of AMD’s fifth-generation EPYC processors for its TPU 8tx system, alongside the launch of new EPYC CPUs, reinforced AMD’s opportunity in cloud and AI server workloads. What Is Going on With AMD Stock on Wednesday?
• Positive Sentiment: Anthropic’s claim that its Mythos model got Claude running on AMD chips in roughly three days raised the possibility that AI software could become less dependent on Nvidia’s CUDA platform—potentially broadening AMD’s appeal, though adoption remains to be proven. Anthropic’s Mythos claim and Nvidia’s CUDA moat
• Neutral Sentiment: AMD held up as technology shares weakened late amid news concerning Nvidia’s CEO. Any longer-term benefit from competitor disruption is uncertain, since customers must make actual supplier changes for AMD to gain lasting business. Techs Tumble Late; AI Stocks Slide, but Not AMD

Insiders Place Their Bets

In other Advanced Micro Devices news, SVP Ava Hahn sold 2,993 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $488.69, for a total transaction of $1,462,649.17. Following the sale, the senior vice president directly owned 26,623 shares of the company’s stock, valued at $13,010,393.87. This represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Forrest Norrod sold 17,262 shares of the stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $540.70, for a total transaction of $9,333,563.40. Following the transaction, the executive vice president owned 353,317 shares of the company’s stock, valued at $191,038,501.90. This represents a 4.66% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 230,957 shares of company stock worth $114,799,511 in the last ninety days. 0.50% of the stock is owned by corporate insiders.

Advanced Micro Devices Profile

Advanced Micro Devices, Inc. (AMD) is a semiconductor company that designs processors, graphics products and adaptive computing solutions. Its products serve data center, personal computing, gaming, embedded and other markets. AMD is a fabless chip designer, relying on third-party manufacturing partners to produce its semiconductors. The company’s product portfolio includes EPYC server processors, Ryzen desktop and laptop processors, Radeon graphics products, Instinct accelerators for data center computing, and adaptive chips and systems used in embedded applications.