Advanced Micro Devices (NASDAQ:AMD) EVP Paul Darren Grasby Sells 15,000 Shares of Stock

Key Points

• AMD EVP Paul Darren Grasby sold 15,000 shares at an average price of $514.91, generating $7.72 million. The sale covered tax withholding obligations tied to vested equity awards and reduced his direct ownership by 11.3%.
• AMD shares fell 4.2% to $484.84, while the company’s market capitalization stood at approximately $791.5 billion and its price-to-earnings ratio was 124.64.
• AMD exceeded quarterly expectations with earnings of $1.66 per share and revenue of $11.54 billion, up 50.1% year over year. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $546.87.

Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report) EVP Paul Darren Grasby sold 15,000 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $514.91, for a total transaction of $7,723,650.00. Following the sale, the executive vice president directly owned 117,687 shares in the company, valued at $60,598,213.17. This trade represents a 11.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Advanced Micro Devices Trading Down 4.2%

AMD stock traded down $21.16 during trading on Tuesday, hitting $484.84. The company had a trading volume of 23,558,519 shares, compared to its average volume of 35,490,988. The firm has a 50-day moving average price of $512.08 and a 200-day moving average price of $370.08. Advanced Micro Devices, Inc. has a 12 month low of $149.22 and a 12 month high of $584.73. The company has a quick ratio of 1.91, a current ratio of 2.61 and a debt-to-equity ratio of 0.03. The stock has a market cap of $791.49 billion, a price-to-earnings ratio of 124.64 and a beta of 2.48.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The semiconductor manufacturer reported $1.66 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.04. The firm had revenue of $11.54 billion for the quarter, compared to analyst estimates of $11.31 billion. Advanced Micro Devices had a return on equity of 12.30% and a net margin of 15.58%.The business's quarterly revenue was up 50.1% compared to the same quarter last year. During the same period last year, the company earned $0.48 EPS. As a group, analysts predict that Advanced Micro Devices, Inc. will post 6.44 earnings per share for the current year.

Hedge Funds Weigh In On Advanced Micro Devices

Several institutional investors and hedge funds have recently made changes to their positions in AMD. Brighton Jones LLC lifted its holdings in shares of Advanced Micro Devices by 178.2% during the 4th quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer's stock valued at $5,551,000 after purchasing an additional 29,438 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in Advanced Micro Devices by 2.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer's stock valued at $1,001,000 after buying an additional 234 shares in the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of Advanced Micro Devices by 125.1% in the second quarter. Sivia Capital Partners LLC now owns 5,344 shares of the semiconductor manufacturer's stock valued at $758,000 after buying an additional 2,970 shares during the period. United Bank boosted its holdings in shares of Advanced Micro Devices by 22.0% in the second quarter. United Bank now owns 13,255 shares of the semiconductor manufacturer's stock valued at $1,881,000 after buying an additional 2,392 shares during the period. Finally, Schnieders Capital Management LLC. increased its position in shares of Advanced Micro Devices by 361.0% during the second quarter. Schnieders Capital Management LLC. now owns 9,230 shares of the semiconductor manufacturer's stock worth $1,310,000 after acquiring an additional 7,228 shares in the last quarter. Institutional investors and hedge funds own 71.34% of the company's stock.

Key Headlines Impacting Advanced Micro Devices

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

• Positive Sentiment: AMD introduced Instinct Coder, an enterprise-focused AI coding solution designed to support private, on-premises AI deployments. The launch reinforces AMD’s effort to expand its Instinct accelerator ecosystem beyond hyperscale data centers. Advanced Micro Devices Unveils Instinct Coder For Private Enterprise AI
• Positive Sentiment: AMD reportedly reached its AI rack energy-efficiency target, a potentially important advantage as data-center operators focus increasingly on power consumption and operating costs. However, the announcement has not offset broader selling pressure. AMD Stock Slides Despite Progress on an AI Energy Efficiency Goal
• Positive Sentiment: Reports highlight AMD’s acquisition of a small Canadian AI-inference startup and its collaboration with Cerebras on Helios rack platforms. If successful, the initiatives could improve inference performance and broaden AMD’s competitive positioning against Nvidia. AMD’s Acquisition Could Redefine Direct-Silicon AI Inference

Analysts Set New Price Targets

A number of research firms have issued reports on AMD. Barclays downgraded shares of Advanced Micro Devices from an "overweight" rating to an "underweight" rating in a research report on Friday, June 12th. Seaport Research Partners raised shares of Advanced Micro Devices from a "neutral" rating to a "buy" rating and set a $430.00 price target for the company in a research note on Wednesday, May 6th. Northland Securities restated a "market perform" rating and issued a $260.00 price objective on shares of Advanced Micro Devices in a report on Monday, April 27th. Evercore reaffirmed an "outperform" rating and issued a $579.00 price objective on shares of Advanced Micro Devices in a research note on Tuesday, May 19th. Finally, HSBC cut shares of Advanced Micro Devices from a "buy" rating to a "hold" rating and upped their target price for the company from $335.00 to $340.00 in a research report on Monday, May 4th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $546.87.

About Advanced Micro Devices

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.

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