Prospect Financial Services LLC Makes New Investment in Advanced Micro Devices, Inc. $AMD

Prospect Financial Services LLC bought a new stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,286 shares of the semiconductor manufacturer’s stock, valued at approximately $275,000.

Several other large investors have also made changes to their positions in AMD. Ignite Planners LLC boosted its holdings in shares of Advanced Micro Devices by 16.6% in the 4th quarter. Ignite Planners LLC now owns 4,971 shares of the semiconductor manufacturer’s stock worth $1,177,000 after acquiring an additional 706 shares in the last quarter. Axxcess Wealth Management LLC boosted its position in Advanced Micro Devices by 727.0% in the 4th quarter. Axxcess Wealth Management LLC now owns 250,325 shares of the semiconductor manufacturer’s stock valued at $53,610,000 after buying an additional 220,055 shares during the last quarter. Cvfg LLC acquired a new stake in shares of Advanced Micro Devices in the 4th quarter valued at $345,000. Kingdom Financial Group LLC. bought a new stake in shares of Advanced Micro Devices during the fourth quarter worth $49,000. Finally, Signature Estate & Investment Advisors LLC lifted its stake in shares of Advanced Micro Devices by 7.6% during the fourth quarter. Signature Estate & Investment Advisors LLC now owns 2,733 shares of the semiconductor manufacturer’s stock valued at $585,000 after acquiring an additional 193 shares during the period. Institutional investors own 71.34% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Mark D. Papermaster sold 31,320 shares of the stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $350.00, for a total transaction of $10,962,000.00. Following the completion of the transaction, the executive vice president directly owned 1,236,037 shares in the company, valued at $432,612,950. This represents a 2.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Paul Darren Grasby sold 24,376 shares of Advanced Micro Devices stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $444.39, for a total value of $10,832,450.64. Following the completion of the sale, the executive vice president directly owned 105,222 shares in the company, valued at approximately $46,759,604.58. This represents a 18.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 309,598 shares of company stock valued at $105,644,316 in the last three months. 0.50% of the stock is currently owned by corporate insiders.

Advanced Micro Devices Stock Up 0.4%

AMD stock opened at $449.59 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.72 and a quick ratio of 1.96. The stock has a market capitalization of $733.10 billion, a P/E ratio of 147.41, a P/E/G ratio of 1.33 and a beta of 2.40. Advanced Micro Devices, Inc. has a fifty-two week low of $107.67 and a fifty-two week high of $469.21. The business has a 50-day moving average of $292.17 and a 200-day moving average of $245.31.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $9.90 billion. During the same quarter in the previous year, the business posted $0.96 EPS. The business’s quarterly revenue was up 37.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Advanced Micro Devices, Inc. will post 6.2 earnings per share for the current fiscal year.

Key Stories Impacting Advanced Micro Devices

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

• Positive Sentiment: AMD said it is ramping production of its 6th Gen EPYC “Venice” CPUs on TSMC’s 2nm process, a major manufacturing milestone that supports its AI and data center strategy. Article Title
• Positive Sentiment: AMD announced more than $10 billion in Taiwan ecosystem investments to expand advanced packaging and AI infrastructure capacity, which could improve supply and accelerate next-gen product deployment. Article Title
• Positive Sentiment: Reuters reported that CEO Lisa Su said AMD is asking partners to ramp up production because of strong AI demand, reinforcing expectations for stronger shipments. Article Title
• Positive Sentiment: Market commentary continues to frame AMD as a beneficiary of the AI chip rotation beyond Nvidia, supporting sentiment around the stock. Article Title

Wall Street Analysts Forecast Growth

A number of analysts recently commented on AMD shares. Wall Street Zen upgraded Advanced Micro Devices from a “hold” rating to a “buy” rating in a research report on Monday, January 26th. HSBC cut shares of Advanced Micro Devices from a “buy” rating to a “hold” rating and lifted their price target for the stock from $335.00 to $340.00 in a research report on Monday, May 4th. Raymond James Financial initiated coverage on shares of Advanced Micro Devices in a research note on Wednesday, May 6th. They issued a “market perform” rating on the stock. Citigroup upped their target price on shares of Advanced Micro Devices from $358.00 to $460.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Truist Financial set a $478.00 price target on Advanced Micro Devices in a research report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $410.00.

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.