Advanced Micro Devices, Inc. $AMD Shares Sold by Baker Avenue Asset Management LP

Key Points

• Baker Avenue Asset Management LP trimmed its AMD position by 1.7% in the fourth quarter, selling 2,252 shares and ending with 130,666 shares valued at about $27.98 million.
• Despite that sale, institutional ownership remains high, with large funds like Vanguard, State Street, and Geode increasing their stakes; overall, institutions and hedge funds own 71.34% of AMD.
• AMD’s latest earnings beat expectations, with $1.37 EPS on $10.25 billion in revenue, while analysts stayed broadly bullish and lifted price targets as high as $500.

Baker Avenue Asset Management LP reduced its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 130,666 shares of the semiconductor manufacturer's stock after selling 2,252 shares during the period. Baker Avenue Asset Management LP's holdings in Advanced Micro Devices were worth $27,983,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Advanced Micro Devices by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 158,522,860 shares of the semiconductor manufacturer's stock worth $33,949,256,000 after purchasing an additional 2,525,109 shares in the last quarter. State Street Corp increased its stake in Advanced Micro Devices by 2.4% in the 3rd quarter. State Street Corp now owns 73,824,441 shares of the semiconductor manufacturer's stock worth $11,944,056,000 after purchasing an additional 1,755,182 shares in the last quarter. Geode Capital Management LLC increased its stake in Advanced Micro Devices by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 37,584,845 shares of the semiconductor manufacturer's stock worth $8,015,897,000 after purchasing an additional 287,525 shares in the last quarter. Amundi increased its stake in Advanced Micro Devices by 17.5% in the 3rd quarter. Amundi now owns 13,486,227 shares of the semiconductor manufacturer's stock worth $2,181,937,000 after purchasing an additional 2,012,865 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Advanced Micro Devices by 6.5% in the 3rd quarter. Invesco Ltd. now owns 13,348,413 shares of the semiconductor manufacturer's stock worth $2,159,640,000 after purchasing an additional 813,844 shares in the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMD has been the topic of a number of analyst reports. TD Cowen lifted their price target on Advanced Micro Devices from $290.00 to $500.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Benchmark lifted their price target on Advanced Micro Devices from $325.00 to $485.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Weiss Ratings raised Advanced Micro Devices from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, May 6th. Truist Financial set a $478.00 price target on Advanced Micro Devices in a research note on Wednesday, May 6th. Finally, Wolfe Research initiated coverage on Advanced Micro Devices in a research note on Wednesday, May 6th. They issued a "peer perform" rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $410.00.

Advanced Micro Devices Trading Down 1.7%

NASDAQ:AMD opened at $495.54 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.72 and a quick ratio of 1.96. Advanced Micro Devices, Inc. has a fifty-two week low of $108.62 and a fifty-two week high of $510.21. The stock's 50-day moving average is $315.01 and its two-hundred day moving average is $251.86. The stock has a market cap of $808.03 billion, a PE ratio of 162.47, a price-to-earnings-growth ratio of 1.48 and a beta of 2.40.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its 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. Advanced Micro Devices had a return on equity of 9.55% and a net margin of 13.37%.The company had revenue of $10.25 billion for the quarter, compared to analysts' expectations of $9.90 billion. During the same quarter in the previous year, the business posted $0.96 EPS. The business's revenue for the quarter was up 37.8% on a year-over-year basis. As a group, equities research analysts forecast that Advanced Micro Devices, Inc. will post 6.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 31,320 shares of Advanced Micro Devices stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $350.00, for a total transaction of $10,962,000.00. Following the transaction, the executive vice president owned 1,236,037 shares of the company's stock, valued at $432,612,950. The trade was a 2.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lisa T. Su sold 125,000 shares of Advanced Micro Devices stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $445.51, for a total value of $55,688,750.00. Following the sale, the chief executive officer owned 3,021,899 shares of the company's stock, valued at approximately $1,346,286,223.49. This represents a 3.97% 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. In the last 90 days, insiders sold 329,085 shares of company stock worth $114,051,007. Insiders own 0.50% of the company's stock.

Advanced Micro Devices News Roundup

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

• Positive Sentiment: AMD’s data center business remains a major growth engine, with one recent write-up highlighting 57% year-over-year data center revenue growth to $5.78 billion, driven by EPYC CPU demand and ramping Instinct AI products. Article title
• Positive Sentiment: AMD got a lift from a new OneQode collaboration to deploy AMD Instinct MI355X GPUs and plan for AMD’s Helios rack-scale solution, reinforcing demand for its AI infrastructure products. Article title
• Positive Sentiment: Analyst commentary remains constructive, with multiple recent notes describing AMD as a beneficiary of the AI spending cycle and highlighting upside tied to continued data center and CPU gains. Article title
• Neutral Sentiment: Some articles focused on AMD’s rapid valuation expansion and the question of whether the stock can become a trillion-dollar company, which keeps expectations high but does not change the near-term growth story. Article title
• Negative Sentiment: Sentiment was pressured by reports that Cathie Wood continued trimming AMD exposure, and by concerns that Nvidia could move into the standalone server CPU market, increasing competitive pressure on AMD’s growth areas. Article title Article title

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.

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