Canandaigua National Bank & Trust Co. Invests $5.51 Million in Advanced Micro Devices, Inc. $AMD

Canandaigua National Bank & Trust Co. acquired a new stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,491 shares of the semiconductor manufacturer’s stock, valued at approximately $5,513,000.

A number of other large investors have also added to or reduced their stakes in the stock. Southpoint Capital Advisors LP grew its holdings in Advanced Micro Devices by 50.0% during the first quarter. Southpoint Capital Advisors LP now owns 900,000 shares of the semiconductor manufacturer’s stock valued at $183,087,000 after purchasing an additional 300,000 shares during the period. Jefferies Financial Group Inc. raised its stake in shares of Advanced Micro Devices by 6,228.8% in the fourth quarter. Jefferies Financial Group Inc. now owns 308,021 shares of the semiconductor manufacturer’s stock worth $65,966,000 after buying an additional 303,154 shares during the period. Boomfish Wealth Group LLC purchased a new position in shares of Advanced Micro Devices during the 1st quarter valued at about $1,193,000. Dimensional Fund Advisors LP lifted its position in shares of Advanced Micro Devices by 6.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,142,516 shares of the semiconductor manufacturer’s stock valued at $1,045,954,000 after buying an additional 291,165 shares in the last quarter. Finally, Williamson Legacy Group LLC bought a new position in shares of Advanced Micro Devices during the 4th quarter valued at approximately $1,118,000. Institutional investors own 71.34% of the company’s stock.

Insider Activity

In other news, EVP Forrest Eugene Norrod sold 19,487 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $431.40, for a total value of $8,406,691.80. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark D. Papermaster sold 6,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $536.33, for a total transaction of $3,217,980.00. Following the completion of the transaction, the executive vice president directly owned 1,233,687 shares in the company, valued at $661,663,348.71. This represents a 0.48% 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. In the last three months, insiders sold 310,310 shares of company stock valued at $141,185,456. Insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on AMD. BTIG Research raised shares of Advanced Micro Devices to a “buy” rating in a report on Wednesday, May 6th. Sanford C. Bernstein set a $600.00 price target on shares of Advanced Micro Devices and gave the stock an “outperform” rating in a research report on Wednesday, June 17th. DA Davidson increased their price objective on shares of Advanced Micro Devices from $375.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. William Blair restated a “market perform” rating on shares of Advanced Micro Devices in a research report on Friday, July 24th. Finally, Oppenheimer cut shares of Advanced Micro Devices from a “market perform” rating to a “market perform” rating in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $529.46.

Key Headlines Impacting Advanced Micro Devices

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

• Positive Sentiment: AMD reported second-quarter adjusted EPS of $1.66, ahead of the $1.61 consensus estimate, while revenue rose 50.1% year over year to $11.54 billion, exceeding the $11.31 billion forecast. AMD Surpasses Q2 Earnings and Revenue Estimates
• Positive Sentiment: Data-center revenue reportedly more than doubled to a record $6.7 billion, reinforcing the AI-infrastructure growth story and AMD’s efforts to compete with Nvidia in GPUs, CPUs and rack-scale systems. AMD Revenue Climbs 50% and Data Center Sales Doubled
• Positive Sentiment: Third-quarter revenue guidance of $12.7 billion to $13.3 billion exceeded the approximately $12.4 billion analyst consensus, indicating continued demand for AI and data-center products. AMD Forecasts Upbeat Revenue on AI Data-Center Demand
• Neutral Sentiment: A broad risk-on rally lifted the semiconductor sector, with gains in Nvidia, Intel, Broadcom and Marvell providing a favorable backdrop for AMD before earnings. Chip Stocks Ride a Risk-On Rally
• Negative Sentiment: Investors viewed the quarterly beat as modest relative to AMD’s rally and valuation—roughly 170 times trailing earnings in the supplied data—raising concerns that expectations had already priced in exceptional execution. AMD Reported Record Sales but Stock Fell
• Negative Sentiment: Commentary also highlighted potentially “shocking” capital spending and continuing insider selling; data supplied by Quiver shows 99 insider sales and no purchases over the past six months. These signals may have amplified profit-taking after the release. AMD Stock Falls on Q2 Earnings

Advanced Micro Devices Stock Performance

Shares of NASDAQ:AMD opened at $518.58 on Wednesday. The company has a current ratio of 2.72, a quick ratio of 1.96 and a debt-to-equity ratio of 0.04. Advanced Micro Devices, Inc. has a 12 month low of $149.22 and a 12 month high of $584.73. The company has a market capitalization of $845.60 billion, a price-to-earnings ratio of 170.03 and a beta of 2.48. The firm’s 50-day moving average is $516.06 and its 200 day moving average is $354.63.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, August 4th. The semiconductor manufacturer reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.04. Advanced Micro Devices had a return on equity of 9.55% and a net margin of 13.37%.The business had revenue of $11.54 billion during the quarter, compared to analyst estimates of $11.31 billion. During the same quarter in the previous year, the business earned $0.48 earnings per share. The company’s revenue for the quarter was up 50.1% compared to the same quarter last year. Research analysts predict that Advanced Micro Devices, Inc. will post 6.27 EPS for the current year.

Advanced Micro Devices Company 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.