Advanced Micro Devices, Inc. $AMD Shares Sold by Petros Family Wealth LLC

Petros Family Wealth LLC trimmed its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 17.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 4,646 shares of the semiconductor manufacturer’s stock after selling 981 shares during the period. Petros Family Wealth LLC’s holdings in Advanced Micro Devices were worth $945,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Advanced Micro Devices in the fourth quarter valued at approximately $4,929,312,000. Jennison Associates LLC boosted its position in shares of Advanced Micro Devices by 181.6% during the fourth quarter. Jennison Associates LLC now owns 10,910,310 shares of the semiconductor manufacturer’s stock worth $2,336,552,000 after buying an additional 7,035,991 shares during the period. Cardano Risk Management B.V. acquired a new stake in shares of Advanced Micro Devices in the fourth quarter valued at $1,000,783,000. Wellington Management Group LLP grew its stake in shares of Advanced Micro Devices by 335.9% in the third quarter. Wellington Management Group LLP now owns 4,847,825 shares of the semiconductor manufacturer’s stock valued at $784,330,000 after buying an additional 3,735,807 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Advanced Micro Devices by 340.1% in the 4th quarter. Franklin Resources Inc. now owns 4,747,834 shares of the semiconductor manufacturer’s stock valued at $1,016,796,000 after buying an additional 3,669,054 shares during the period. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Seaport Research Partners upgraded Advanced Micro Devices from a “neutral” rating to a “buy” rating and set a $430.00 target price for the company in a report on Wednesday, May 6th. Wolfe Research set a $450.00 price target on shares of Advanced Micro Devices and gave the stock an “outperform” rating in a research note on Monday, June 15th. Weiss Ratings raised shares of Advanced Micro Devices from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. BTIG Research raised shares of Advanced Micro Devices to a “buy” rating in a research note on Wednesday, May 6th. Finally, HSBC cut shares of Advanced Micro Devices from a “buy” rating to a “hold” rating and lifted their price objective for the company from $335.00 to $340.00 in a report on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $448.78.

Advanced Micro Devices Stock Performance

Shares of AMD opened at $540.88 on Thursday. Advanced Micro Devices, Inc. has a 1 year low of $133.50 and a 1 year high of $584.73. The stock has a market capitalization of $881.96 billion, a PE ratio of 177.34, a PEG ratio of 1.71 and a beta of 2.47. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.96 and a current ratio of 2.72. The stock has a 50-day simple moving average of $461.80 and a 200-day simple moving average of $303.66.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.08. The firm had revenue of $10.25 billion for the quarter, compared to analyst estimates of $9.90 billion. Advanced Micro Devices had a net margin of 13.37% and a return on equity of 9.55%. The business’s quarterly revenue was up 37.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.96 earnings per share. On average, analysts predict that Advanced Micro Devices, Inc. will post 6.15 earnings per share for the current fiscal year.

Advanced Micro Devices News Roundup

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

• Positive Sentiment: Wall Street remains bullish on AMD, with multiple analysts lifting price targets on strong AI-driven data center and server CPU demand, including Wells Fargo’s raise to $615 and other recent hikes. This Analyst Just Raised the Price Target on AMD Stock. Here’s Why.
• Positive Sentiment: AMD’s AI and data center story is still expanding, including new Versal Premium Gen 2 chips aimed at compact AI, networking, defense and video systems. AMD Expands AI Reach With Versal Premium Gen 2 MoP SoCs: What’s Ahead?
• Positive Sentiment: The company is still getting support from bullish commentary that highlights AMD as a key beneficiary of AI infrastructure spending and a rising competitor in the AI CPU market. Micron, Intel and AMD add $2 trillion in value in Q2 rally
• Neutral Sentiment: AMD also boosted executive pay to help retain leadership, a governance move that is not likely to be a major near-term driver for the stock. AMD Boosts Executive Pay to Support Leadership Retention
• Negative Sentiment: AMD is giving back some of its recent gains as investors lock in profits after an extraordinary AI-led surge and a new high, while broader chip stocks also retreat. Advanced Micro Devices (AMD) Dips More Than Broader Market: What You Should Know
• Negative Sentiment: Some market coverage is warning that the semiconductor rally may be getting overheated, with valuation concerns and “bubble risk” weighing on sentiment across the sector. Bank of America warns of tougher stock market in near future

Insider Activity at Advanced Micro Devices

In other news, EVP Forrest Eugene Norrod sold 19,487 shares of Advanced Micro Devices stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $431.40, for a total transaction of $8,406,691.80. Following the completion of the sale, the executive vice president directly owned 324,527 shares of the company’s stock, valued at approximately $140,000,947.80. The trade was a 5.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 31,320 shares of Advanced Micro Devices stock in a transaction on Friday, April 24th. The stock was sold at an average price of $350.00, for a total transaction of $10,962,000.00. Following the sale, the executive vice president directly owned 1,236,037 shares of the company’s stock, valued at approximately $432,612,950. This trade represents a 2.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 378,032 shares of company stock worth $161,876,596 over the last ninety days. 0.50% of the stock is currently owned by insiders.

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.