Wesbanco Bank Inc. Reduces Stock Holdings in Advanced Micro Devices, Inc. $AMD

Wesbanco Bank Inc. reduced its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 10.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 144,985 shares of the semiconductor manufacturer’s stock after selling 17,593 shares during the quarter. Advanced Micro Devices makes up approximately 0.9% of Wesbanco Bank Inc.’s holdings, making the stock its 19th largest holding. Wesbanco Bank Inc.’s holdings in Advanced Micro Devices were worth $31,050,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Impax Asset Management Group plc lifted its holdings in shares of Advanced Micro Devices by 326.5% in the 3rd quarter. Impax Asset Management Group plc now owns 52,068 shares of the semiconductor manufacturer’s stock valued at $8,424,000 after buying an additional 39,861 shares during the period. Zweig DiMenna Associates LLC lifted its holdings in shares of Advanced Micro Devices by 127.6% in the 3rd quarter. Zweig DiMenna Associates LLC now owns 72,602 shares of the semiconductor manufacturer’s stock valued at $11,746,000 after buying an additional 40,708 shares during the period. Wedbush Securities Inc. lifted its holdings in shares of Advanced Micro Devices by 7.8% in the 3rd quarter. Wedbush Securities Inc. now owns 84,256 shares of the semiconductor manufacturer’s stock valued at $13,632,000 after buying an additional 6,095 shares during the period. Highline Wealth Partners LLC lifted its holdings in shares of Advanced Micro Devices by 4,891.6% in the 4th quarter. Highline Wealth Partners LLC now owns 8,286 shares of the semiconductor manufacturer’s stock valued at $1,775,000 after buying an additional 8,120 shares during the period. Finally, William Blair Investment Management LLC lifted its holdings in shares of Advanced Micro Devices by 72.5% in the 3rd quarter. William Blair Investment Management LLC now owns 1,047,200 shares of the semiconductor manufacturer’s stock valued at $169,426,000 after buying an additional 440,296 shares during the period. Institutional investors and hedge funds own 71.34% of the company’s stock.

Advanced Micro Devices Stock Performance

NASDAQ AMD opened at $455.19 on Friday. The stock has a market capitalization of $742.23 billion, a price-to-earnings ratio of 149.24, a PEG ratio of 1.26 and a beta of 2.40. Advanced Micro Devices, Inc. has a twelve month low of $101.60 and a twelve month high of $456.29. The company has a current ratio of 2.72, a quick ratio of 2.01 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average of $243.98 and a 200 day moving average of $231.76.

Advanced Micro Devices (NASDAQ:AMD) last announced its 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 return on equity of 9.55% and a net margin of 13.37%.The business had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $9.90 billion. During the same quarter in the prior year, the firm earned $0.96 earnings per share. The business’s revenue was up 37.8% compared to the same quarter last year. Sell-side analysts anticipate that Advanced Micro Devices, Inc. will post 5.95 EPS for the current fiscal year.

Advanced Micro Devices News Summary

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

• Positive Sentiment: AMD’s latest earnings and guidance continue to fuel the rally, with the company beating expectations and highlighting strong data-center/AI demand. AMD, Micron shares surge on a big day for chip-sector outperformance
• Positive Sentiment: Analysts are getting more bullish after earnings, including new or raised price targets and higher EPS estimates that suggest further upside if AI server CPU demand stays strong. As CPUs Steal the Show, AMD Stock Just Got a New Street-High Price Target
• Positive Sentiment: Wall Street commentary suggests the AI opportunity is broadening from GPUs to CPUs, which helps position AMD as a key beneficiary of the next phase of AI infrastructure spending. Wall Street sees ‘changing of the guard in AI’ as Intel, AMD shares soar while Nvidia lags
• Neutral Sentiment: Coverage also notes that AMD shares are drawing attention from traders and momentum investors after the stock’s sharp run, which could keep volatility elevated. What Is AMD Stock’s Minimum & Maximum Potential After Earnings?
• Negative Sentiment: Some investors are locking in gains after the huge rally, including Cathie Wood/ARK trimming AMD holdings, which may cap near-term upside. Cathie Wood Dumps More AMD Shares Despite Its Massive 108% Rally. Here’s Why.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Royal Bank Of Canada boosted their price objective on Advanced Micro Devices from $325.00 to $400.00 and gave the company a “sector perform” rating in a report on Wednesday. Seaport Research Partners raised Advanced Micro Devices from a “neutral” rating to a “buy” rating and set a $430.00 price target for the company in a report on Wednesday. Needham & Company LLC raised Advanced Micro Devices to a “buy” rating in a report on Wednesday. Mizuho upped their price target on Advanced Micro Devices from $280.00 to $415.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Oppenheimer cut Advanced Micro Devices from a “market perform” rating to a “market perform” rating in a report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $388.84.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, CEO Lisa T. Su sold 125,000 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $214.36, for a total value of $26,795,000.00. Following the completion of the sale, the chief executive officer owned 3,152,476 shares in the company, valued at approximately $675,764,755.36. This represents a 3.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Forrest Eugene Norrod sold 19,450 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $216.81, for a total value of $4,216,954.50. Following the transaction, the executive vice president owned 289,098 shares in the company, valued at approximately $62,679,337.38. This represents a 6.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 304,672 shares of company stock worth $70,135,070 over the last three months. 0.50% of the stock is owned by insiders.

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.