Advanced Micro Devices, Inc. $AMD Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC decreased its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 39.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 24,803 shares of the semiconductor manufacturer’s stock after selling 15,926 shares during the period. Sterling Capital Management LLC’s holdings in Advanced Micro Devices were worth $5,046,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of AMD. Focused Wealth Management Inc boosted its stake in Advanced Micro Devices by 2.7% in the 1st quarter. Focused Wealth Management Inc now owns 1,431 shares of the semiconductor manufacturer’s stock worth $291,000 after purchasing an additional 37 shares in the last quarter. James J. Burns & Company LLC increased its stake in Advanced Micro Devices by 2.3% during the 4th quarter. James J. Burns & Company LLC now owns 1,816 shares of the semiconductor manufacturer’s stock valued at $389,000 after purchasing an additional 40 shares in the last quarter. Cassaday & Co Wealth Management LLC increased its stake in Advanced Micro Devices by 0.9% during the 4th quarter. Cassaday & Co Wealth Management LLC now owns 4,912 shares of the semiconductor manufacturer’s stock valued at $1,052,000 after purchasing an additional 43 shares in the last quarter. Willis Johnson & Associates Inc. raised its holdings in shares of Advanced Micro Devices by 1.9% in the fourth quarter. Willis Johnson & Associates Inc. now owns 2,304 shares of the semiconductor manufacturer’s stock worth $493,000 after buying an additional 44 shares during the last quarter. Finally, Smith Moore & CO. raised its holdings in shares of Advanced Micro Devices by 1.1% in the third quarter. Smith Moore & CO. now owns 3,962 shares of the semiconductor manufacturer’s stock worth $641,000 after buying an additional 45 shares during the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 19,487 shares of the stock in a transaction dated 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 transaction, the executive vice president owned 324,527 shares of the company’s stock, valued at $140,000,947.80. This trade represents a 5.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available 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 Advanced Micro Devices stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $536.33, for a total transaction of $3,217,980.00. Following the completion of the sale, the executive vice president owned 1,233,687 shares of the company’s stock, valued at $661,663,348.71. This trade represents a 0.48% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 378,032 shares of company stock valued at $161,876,596. 0.50% of the stock is currently owned by company insiders.

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.

Advanced Micro Devices Price Performance

Shares of NASDAQ AMD opened at $521.58 on Friday. The firm has a 50-day simple moving average of $445.21 and a 200-day simple moving average of $296.11. The company has a quick ratio of 1.96, a current ratio of 2.72 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $850.49 billion, a price-to-earnings ratio of 171.01, a price-to-earnings-growth ratio of 1.54 and a beta of 2.50. Advanced Micro Devices, Inc. has a 52 week low of $133.50 and a 52 week high of $562.99.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly 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%. Advanced Micro Devices’s quarterly revenue was up 37.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.96 earnings per share. On average, equities analysts predict that Advanced Micro Devices, Inc. will post 6.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AMD shares. Oppenheimer lowered shares of Advanced Micro Devices from a “market perform” rating to a “market perform” rating in a report on Wednesday, May 6th. Raymond James Financial began coverage on Advanced Micro Devices in a research report on Wednesday, May 6th. They set a “market perform” rating for the company. Truist Financial set a $478.00 price target on Advanced Micro Devices in a research note on Wednesday, May 6th. Melius Research set a $540.00 price objective on Advanced Micro Devices in a report on Monday, May 18th. Finally, Cantor Fitzgerald raised their price objective on Advanced Micro Devices to $500.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $440.41.

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.