Spectrum Strategic Capital Management LLC Cuts Position in Advanced Micro Devices, Inc. $AMD

Spectrum Strategic Capital Management LLC cut its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 60.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,610 shares of the semiconductor manufacturer’s stock after selling 9,926 shares during the period. Spectrum Strategic Capital Management LLC’s holdings in Advanced Micro Devices were worth $1,416,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Joseph Group Capital Management purchased a new position in Advanced Micro Devices in the fourth quarter worth $25,000. Koesten Hirschmann & Crabtree INC. lifted its stake in Advanced Micro Devices by 61.0% in the third quarter. Koesten Hirschmann & Crabtree INC. now owns 161 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 61 shares during the last quarter. Key Capital Management INC bought a new stake in Advanced Micro Devices in the fourth quarter worth $38,000. PFS Partners LLC lifted its stake in Advanced Micro Devices by 269.2% in the fourth quarter. PFS Partners LLC now owns 192 shares of the semiconductor manufacturer’s stock worth $41,000 after purchasing an additional 140 shares during the last quarter. Finally, Aviso Financial Inc. lifted its stake in Advanced Micro Devices by 400.0% in the third quarter. Aviso Financial Inc. now owns 200 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 160 shares during the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Mark D. Papermaster sold 31,320 shares of the company’s 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 of the company’s stock, valued at approximately $432,612,950. This represents a 2.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Paul Darren Grasby sold 24,376 shares of the stock in a transaction dated 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 directly owned 105,222 shares of the company’s stock, valued at approximately $46,759,604.58. The trade was a 18.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 309,598 shares of company stock valued at $105,644,316. Insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Raymond James Financial assumed coverage on shares of Advanced Micro Devices in a research note on Wednesday, May 6th. They issued a “market perform” rating for the company. Piper Sandler reissued an “overweight” rating on shares of Advanced Micro Devices in a research note on Wednesday, February 25th. Royal Bank Of Canada boosted their price target on shares of Advanced Micro Devices from $325.00 to $400.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 6th. Stifel Nicolaus boosted their price target on shares of Advanced Micro Devices from $320.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, Cantor Fitzgerald boosted their price target on shares of Advanced Micro Devices to $500.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and a consensus price target of $396.95.

Key Stories Impacting Advanced Micro Devices

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

• Positive Sentiment: Q1 earnings and revenue both topped expectations, with data center sales up sharply on strong demand for EPYC CPUs and Instinct GPUs.
• Positive Sentiment: Several analysts raised price targets after the earnings report, citing AMD’s accelerating AI and data center growth.
• Positive Sentiment: AMD expanded FSR 4.1 support to older GPUs and introduced new Ryzen PRO 9000 offerings, reinforcing product momentum in client and gaming.

Advanced Micro Devices Stock Performance

Shares of NASDAQ:AMD opened at $424.10 on Monday. The company has a market cap of $691.54 billion, a price-to-earnings ratio of 139.05, a price-to-earnings-growth ratio of 1.26 and a beta of 2.40. The company has a 50-day moving average price of $273.49 and a 200-day moving average price of $240.39. 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 $107.67 and a 12 month high of $469.21.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 EPS for the quarter, beating the consensus estimate of $1.29 by $0.08. The firm had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $9.90 billion. Advanced Micro Devices had a net margin of 13.37% and a return on equity of 9.55%. The company’s quarterly revenue was up 37.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.96 earnings per share. As a group, equities analysts anticipate that Advanced Micro Devices, Inc. will post 6.2 EPS for the current year.

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.