a16z Perennial Management L.P. Decreases Stake in Advanced Micro Devices, Inc. $AMD

Key Points

• a16z Perennial Management cut its stake in Advanced Micro Devices by 28.2% in the fourth quarter, selling 1,388 shares and ending with 3,530 shares valued at about $756,000.
• Other institutional investors were mixed on AMD, with several funds adding heavily while others trimmed positions; overall, hedge funds and institutions still own 71.34% of the stock.
• Analysts remain broadly bullish on AMD, with multiple firms raising price targets and the consensus rating at Moderate Buy with an average target price of $410.

a16z Perennial Management L.P. lowered its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 28.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,530 shares of the semiconductor manufacturer's stock after selling 1,388 shares during the quarter. a16z Perennial Management L.P.'s holdings in Advanced Micro Devices were worth $756,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in AMD. Impax Asset Management Group plc boosted its position in shares of Advanced Micro Devices by 326.5% during the 3rd quarter. Impax Asset Management Group plc now owns 52,068 shares of the semiconductor manufacturer's stock valued at $8,424,000 after acquiring an additional 39,861 shares during the last quarter. Jefferies Financial Group Inc. boosted its position in shares of Advanced Micro Devices by 6,228.8% during the 4th quarter. Jefferies Financial Group Inc. now owns 308,021 shares of the semiconductor manufacturer's stock valued at $65,966,000 after acquiring an additional 303,154 shares during the last quarter. Williamson Legacy Group LLC bought a new stake in shares of Advanced Micro Devices during the 4th quarter valued at about $1,118,000. Thoroughbred Financial Services LLC boosted its position in shares of Advanced Micro Devices by 8.8% during the 4th quarter. Thoroughbred Financial Services LLC now owns 32,827 shares of the semiconductor manufacturer's stock valued at $7,030,000 after acquiring an additional 2,654 shares during the last quarter. Finally, Zweig DiMenna Associates LLC boosted its position in shares of Advanced Micro Devices by 127.6% during the 3rd quarter. Zweig DiMenna Associates LLC now owns 72,602 shares of the semiconductor manufacturer's stock valued at $11,746,000 after acquiring an additional 40,708 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AMD. Susquehanna lifted their price target on Advanced Micro Devices from $375.00 to $450.00 and gave the company a "positive" rating in a research report on Wednesday, May 6th. Bank of America lifted their price target on Advanced Micro Devices from $450.00 to $500.00 and gave the company a "buy" rating in a research report on Wednesday, May 13th. Benchmark lifted their price target on Advanced Micro Devices from $325.00 to $485.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. Wedbush lifted their price target on Advanced Micro Devices from $290.00 to $400.00 and gave the company an "outperform" rating in a research report on Monday, May 4th. Finally, Piper Sandler reiterated an "overweight" rating on shares of Advanced Micro Devices in a research report on Wednesday, February 25th. Two analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $410.00.

Advanced Micro Devices News Summary

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

• Positive Sentiment: Multiple articles highlighted AMD’s expanding AI and data center opportunity, including bullish takes that the company could be a major winner in the next AI cycle and that Wall Street sees a much larger market opportunity ahead. AMD Could Be the Biggest Winner in the Next AI Battle
• Positive Sentiment: Analyst commentary remained constructive overall, with reports pointing to continued upside potential from AMD’s rapid data center expansion and AI infrastructure demand. Prediction: AMD's Rapid Data Center Expansion Fuels Bullish Target
• Neutral Sentiment: AMD CEO Lisa Su’s China trip and MIT commencement speech kept the company in the news, but the coverage was mostly about leadership presence and AI messaging rather than a direct business catalyst. In China, AMD CEO Lisa Su is understated while Nvidia's Huang is more razzmatazz
• Neutral Sentiment: Rocket One’s acceptance into AMD’s AI Developer Program added another ecosystem-related headline, but the near-term financial impact appears limited. Rocket One Accepted into AMD AI Developer Program
• Negative Sentiment: Several pieces urged caution after AMD’s sharp run-up, including a Seeking Alpha downgrade calling the top and an article noting that there may be less room for mistakes at current levels. AMD: Ring, Ring - The Top Is Calling (Downgrade)
• Negative Sentiment: ARK Invest’s Cathie Wood trimmed her AMD stake, adding to investor concerns that some funds may be taking profits after the stock’s strong rally. Ark Investment's Cathie Wood Just Trimmed Her AMD Stake

Insiders Place Their Bets

In related news, EVP Forrest Eugene Norrod sold 19,487 shares of the company's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $431.40, for a total value of $8,406,691.80. Following the sale, the executive vice president directly owned 324,527 shares of the company's stock, valued at $140,000,947.80. This represents a 5.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark D. Papermaster sold 31,320 shares of the company's stock in a transaction on Friday, April 24th. The stock was sold at an average price of $350.00, for a total value of $10,962,000.00. Following the completion of the sale, the executive vice president directly owned 1,236,037 shares in the company, valued at approximately $432,612,950. The trade was a 2.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 329,085 shares of company stock valued at $114,051,007 over the last three months. 0.50% of the stock is currently owned by corporate insiders.

Advanced Micro Devices Price Performance

Shares of Advanced Micro Devices stock opened at $516.03 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.72 and a quick ratio of 1.96. The business's 50 day simple moving average is $327.78 and its two-hundred day simple moving average is $255.78. The stock has a market capitalization of $841.43 billion, a P/E ratio of 169.19, a price-to-earnings-growth ratio of 1.52 and a beta of 2.50. Advanced Micro Devices, Inc. has a one year low of $108.62 and a one year high of $527.20.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 EPS for the quarter, topping analysts' consensus estimates of $1.29 by $0.08. Advanced Micro Devices had a return on equity of 9.55% and a net margin of 13.37%.The business had revenue of $10.25 billion for the quarter, compared to analysts' expectations of $9.90 billion. During the same period in the previous year, the firm earned $0.96 EPS. The business's quarterly revenue was up 37.8% on a year-over-year basis. Analysts forecast that Advanced Micro Devices, Inc. will post 6.2 EPS for the current year.

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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