Wesbanco Bank Inc. Sells 10,488 Shares of Advanced Micro Devices, Inc. $AMD

by · The Markets Daily

Wesbanco Bank Inc. reduced its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD – Free Report) by 7.2% in the first quarter, HoldingsChannel reports. The firm owned 134,497 shares of the semiconductor manufacturer’s stock after selling 10,488 shares during the period. Advanced Micro Devices makes up approximately 0.8% of Wesbanco Bank Inc.’s investment portfolio, making the stock its 29th largest position. Wesbanco Bank Inc.’s holdings in Advanced Micro Devices were worth $27,361,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Joseph Group Capital Management bought a new stake in shares of Advanced Micro Devices in the 4th quarter valued at about $25,000. Sarver Vrooman Wealth Advisors bought a new position in shares of Advanced Micro Devices during the 4th quarter worth approximately $27,000. Cornerstone Financial Management LLC purchased a new stake in Advanced Micro Devices during the fourth quarter valued at approximately $27,000. Basepoint Wealth LLC acquired a new stake in Advanced Micro Devices in the fourth quarter valued at approximately $30,000. Finally, Aviso Financial Inc. boosted its stake in Advanced Micro Devices by 400.0% in the third quarter. Aviso Financial Inc. now owns 200 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 160 shares in the last quarter. Institutional investors own 71.34% of the company’s stock.

Key Headlines Impacting Advanced Micro Devices

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

  • Positive Sentiment: Wall Street sentiment remains upbeat, with multiple analysts raising AMD price targets in June, including a street-high call from UBS, as firms increasingly view AMD as a bigger player in AI infrastructure and data center CPUs.
  • Positive Sentiment: AMD continues to gain credibility in enterprise AI, including recognition from Gartner as a leading server CPU company, which supports the long-term growth case for its data center business. Article Title
  • Positive Sentiment: New business wins are also helping sentiment, including a definitive agreement with Rackspace Technology to deploy AMD-based infrastructure, reinforcing demand for AMD chips in cloud and enterprise workloads. Article Title
  • Positive Sentiment: Several recent articles argue AMD still has meaningful upside as investors focus on its CPU and AI data center growth, with some bullish commentary suggesting the market may still be underappreciating its long-term earnings power.
  • Neutral Sentiment: One recent piece highlighted both the positives and a caution on AMD, noting the stock’s huge six-month run and suggesting investors should stay aware of valuation risk after such a strong rally.
  • Negative Sentiment: The semiconductor group has also been under pressure today, with AI chip names, including AMD, softening as momentum in the sector cools and investors rotate out of the space. Article Title
  • Negative Sentiment: Bearish/neutral valuation commentary has also picked up, with some coverage questioning whether AMD’s rapid stock gains have already priced in a lot of future growth, which can weigh on the shares in the short term.

Analysts Set New Price Targets

Several analysts have recently commented on AMD shares. Bank of America increased their price objective on Advanced Micro Devices from $500.00 to $560.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Wells Fargo & Company upped their target price on Advanced Micro Devices from $345.00 to $505.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Wedbush raised their price target on Advanced Micro Devices from $290.00 to $400.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Susquehanna boosted their target price on shares of Advanced Micro Devices from $375.00 to $450.00 and gave the stock a “positive” rating in a research report on Wednesday, May 6th. Finally, Evercore restated an “outperform” rating and set a $579.00 price target on shares of Advanced Micro Devices in a research note on Tuesday, May 19th. Two analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and a consensus price target of $440.41.

Check Out Our Latest Stock Report on AMD

Advanced Micro Devices Stock Performance

NASDAQ AMD opened at $521.58 on Friday. The firm has a market capitalization of $850.49 billion, a P/E ratio of 171.01, a PEG ratio of 1.57 and a beta of 2.50. The stock has a 50-day simple moving average of $445.21 and a two-hundred day simple moving average of $296.11. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.96 and a current ratio of 2.72. Advanced Micro Devices, Inc. has a fifty-two week low of $133.50 and a fifty-two week high of $562.99.

Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last issued 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. Advanced Micro Devices had a net margin of 13.37% and a return on equity of 9.55%. The business had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $9.90 billion. During the same quarter last year, the company earned $0.96 EPS. The business’s revenue was up 37.8% on a year-over-year basis. On average, equities analysts forecast that Advanced Micro Devices, Inc. will post 6.15 earnings per share for the current year.

Insiders Place Their Bets

In other Advanced Micro Devices news, Director Nora Denzel sold 8,626 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $522.00, for a total transaction of $4,502,772.00. Following the transaction, the director owned 87,173 shares of the company’s stock, valued at approximately $45,504,306. The trade was a 9.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Lisa T. Su sold 125,000 shares of the company’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $460.69, for a total value of $57,586,250.00. Following the completion of the sale, the chief executive officer owned 2,896,899 shares of the company’s stock, valued at approximately $1,334,572,400.31. The trade was a 4.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 378,032 shares of company stock valued at $161,876,596. Insiders own 0.50% of the company’s stock.

Advanced Micro Devices Profile

(Free Report)

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.

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