Maridea Wealth Management LLC Sells 1,349 Shares of Advanced Micro Devices, Inc. $AMD

Maridea Wealth Management LLC cut its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 7.8% during the 1st quarter, HoldingsChannel reports. The fund 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 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Norges Bank bought a new position in shares of Advanced Micro Devices during the 4th quarter valued at $4,929,312,000. Jennison Associates LLC lifted its stake in Advanced Micro Devices by 181.6% in the fourth quarter. Jennison Associates LLC now owns 10,910,310 shares of the semiconductor manufacturer’s stock worth $2,336,552,000 after purchasing an additional 7,035,991 shares during the last quarter. Cardano Risk Management B.V. purchased a new stake in Advanced Micro Devices during the fourth quarter valued at about $1,000,783,000. Wellington Management Group LLP boosted its position in Advanced Micro Devices by 335.9% during 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 during the period. Finally, Franklin Resources Inc. grew its stake in shares of Advanced Micro Devices by 340.1% during the fourth 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 last quarter. 71.34% of the stock is currently owned by institutional investors.

Insider Transactions at Advanced Micro Devices

In related news, EVP Forrest Eugene Norrod sold 19,487 shares of the business’s 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 transaction, the executive vice president owned 324,527 shares in the company, valued at $140,000,947.80. The trade was a 5.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nora Denzel sold 8,626 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $522.00, for a total transaction of $4,502,772.00. Following the completion of the transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 378,032 shares of company stock worth $161,876,596. 0.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wedbush lifted their price objective on Advanced Micro Devices from $290.00 to $400.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Royal Bank Of Canada upped their price target on shares of Advanced Micro Devices from $325.00 to $400.00 and gave the company a “sector perform” rating in a report on Wednesday, May 6th. Citigroup cut shares of Advanced Micro Devices from a “buy” rating to a “market perform” rating in a research report on Friday, June 12th. Weiss Ratings raised shares of Advanced Micro Devices from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Finally, The Goldman Sachs Group upgraded shares of Advanced Micro Devices from a “buy” rating to a “buy” rating in a research report on Friday, June 12th. Two research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Advanced Micro Devices has an average rating of “Moderate Buy” and an average price target of $440.41.

Key Stories 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 Advanced Micro Devices stock opened at $521.58 on Friday. The business has a 50 day moving average of $445.21 and a 200 day moving average of $296.11. Advanced Micro Devices, Inc. has a 52 week low of $133.50 and a 52 week high of $562.99. The company has a market cap of $850.49 billion, a PE ratio of 171.01, a P/E/G ratio of 1.57 and a beta of 2.50. The company has a quick ratio of 1.96, a current ratio of 2.72 and a debt-to-equity ratio of 0.04.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.08. The business had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $9.90 billion. Advanced Micro Devices had a net margin of 13.37% and a return on equity of 9.55%. The firm’s revenue for the quarter was up 37.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.96 earnings per share. As a group, equities research analysts forecast that Advanced Micro Devices, Inc. will post 6.15 earnings per share 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.