Maridea Wealth Management LLC Trims Holdings in Advanced Micro Devices, Inc. $AMD

Maridea Wealth Management LLC trimmed its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 7.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,851 shares of the semiconductor manufacturer’s stock after selling 1,349 shares during the quarter. Maridea Wealth Management LLC’s holdings in Advanced Micro Devices were worth $3,225,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Advanced Micro Devices by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 158,522,860 shares of the semiconductor manufacturer’s stock valued at $33,949,256,000 after buying an additional 2,525,109 shares in the last quarter. State Street Corp increased its position in shares of Advanced Micro Devices by 1.5% during the fourth quarter. State Street Corp now owns 74,919,276 shares of the semiconductor manufacturer’s stock valued at $16,044,712,000 after buying an additional 1,094,835 shares during the period. Geode Capital Management LLC increased its position in shares of Advanced Micro Devices by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 37,584,845 shares of the semiconductor manufacturer’s stock valued at $8,015,897,000 after buying an additional 287,525 shares during the period. Norges Bank purchased a new stake in shares of Advanced Micro Devices in the fourth quarter worth about $4,929,312,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Advanced Micro Devices by 0.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,325,288 shares of the semiconductor manufacturer’s stock worth $4,352,864,000 after buying an additional 55,969 shares in the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Stock Down 2.1%

AMD stock opened at $521.58 on Friday. The company’s 50 day moving average is $445.21 and its 200 day moving average is $296.11. The stock has a market cap of $850.49 billion, a price-to-earnings ratio of 171.01, a price-to-earnings-growth ratio of 1.57 and a beta of 2.50. 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 1-year low of $133.50 and a 1-year high of $562.99.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $9.90 billion. During the same period in the previous year, the business posted $0.96 earnings per share. Advanced Micro Devices’s revenue for the quarter was up 37.8% on a year-over-year basis. Sell-side analysts predict that Advanced Micro Devices, Inc. will post 6.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AMD. Roth Mkm reaffirmed a “buy” rating and set a $500.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, May 6th. Morgan Stanley increased their target price on shares of Advanced Micro Devices from $360.00 to $410.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Susquehanna raised their price target on shares of Advanced Micro Devices from $375.00 to $450.00 and gave the company a “positive” rating in a report on Wednesday, May 6th. Bank of America boosted their price target on shares of Advanced Micro Devices from $500.00 to $560.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Finally, Wolfe Research set a $450.00 price target on shares of Advanced Micro Devices and gave the stock an “outperform” rating in a report on Monday, June 15th. Two analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Advanced Micro Devices has an average rating of “Moderate Buy” and an average target price of $440.41.

Key Advanced Micro Devices News

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.

Insider Activity

In other news, Director Nora Denzel sold 8,626 shares of Advanced Micro Devices stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $522.00, for a total transaction of $4,502,772.00. Following the completion of the sale, the director directly owned 87,173 shares of the company’s stock, valued at approximately $45,504,306. The trade was a 9.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Paul Darren Grasby sold 24,376 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $444.39, for a total transaction of $10,832,450.64. Following the completion of the transaction, the executive vice president owned 105,222 shares of the company’s stock, valued at $46,759,604.58. This trade represents a 18.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 378,032 shares of company stock worth $161,876,596. Corporate insiders own 0.50% of the company’s stock.

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.