Advanced Micro Devices, Inc. $AMD Shares Sold by Canvas Wealth Advisors LLC

Key Points

• Canvas Wealth Advisors LLC trimmed its AMD stake by 3.9% in Q1, leaving it with 50,808 shares valued at about $10.3 million.
• Insider selling has been notable, including sales by director Nora Denzel and CEO Lisa Su, with insiders selling 374,739 shares over the past 90 days.
• AMD’s business and stock remain strong: the company beat quarterly earnings and revenue estimates, while analysts still hold a Moderate Buy consensus with a $453.92 average price target.

Canvas Wealth Advisors LLC reduced its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 3.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,808 shares of the semiconductor manufacturer's stock after selling 2,054 shares during the quarter. Advanced Micro Devices comprises approximately 1.8% of Canvas Wealth Advisors LLC's holdings, making the stock its 16th largest position. Canvas Wealth Advisors LLC's holdings in Advanced Micro Devices were worth $10,336,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in AMD. Vanguard Group Inc. boosted its holdings in shares of Advanced Micro Devices by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 158,522,860 shares of the semiconductor manufacturer's stock valued at $33,949,256,000 after acquiring an additional 2,525,109 shares during the period. State Street Corp lifted its position in Advanced Micro Devices by 1.5% in the 4th quarter. State Street Corp now owns 74,919,276 shares of the semiconductor manufacturer's stock valued at $16,044,712,000 after purchasing an additional 1,094,835 shares during the last quarter. Geode Capital Management LLC boosted its stake in Advanced Micro Devices by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 37,584,845 shares of the semiconductor manufacturer's stock valued at $8,015,897,000 after purchasing an additional 287,525 shares during the period. Norges Bank acquired a new position in Advanced Micro Devices during the 4th quarter valued at about $4,929,312,000. Finally, Price T Rowe Associates Inc. MD grew its position in Advanced Micro Devices by 0.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,325,288 shares of the semiconductor manufacturer's stock worth $4,352,864,000 after purchasing an additional 55,969 shares during the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Nora Denzel sold 8,626 shares of the company's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $522.00, for a total value of $4,502,772.00. Following the completion of the sale, the director owned 87,173 shares in the company, valued at approximately $45,504,306. This represents a 9.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lisa T. Su sold 125,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $460.69, for a total transaction of $57,586,250.00. Following the completion of the transaction, the chief executive officer directly owned 2,896,899 shares of the company's stock, valued at $1,334,572,400.31. This represents a 4.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 374,739 shares of company stock valued at $161,135,671. Company insiders own 0.50% of the company's stock.

Advanced Micro Devices Trading Up 6.6%

Shares of NASDAQ AMD opened at $552.05 on Tuesday. Advanced Micro Devices, Inc. has a 12 month low of $133.50 and a 12 month high of $584.73. The company has a market cap of $900.17 billion, a price-to-earnings ratio of 181.00, a P/E/G ratio of 1.53 and a beta of 2.47. The company has a quick ratio of 1.96, a current ratio of 2.72 and a debt-to-equity ratio of 0.04. The business has a fifty day simple moving average of $470.75 and a 200-day simple moving average of $308.01.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share for the quarter, topping analysts' consensus estimates of $1.29 by $0.08. The firm had revenue of $10.25 billion for the quarter, compared to analysts' expectations of $9.90 billion. Advanced Micro Devices had a return on equity of 9.55% and a net margin of 13.37%.Advanced Micro Devices's revenue was up 37.8% on a year-over-year basis. During the same quarter last year, the business posted $0.96 EPS. Sell-side analysts predict that Advanced Micro Devices, Inc. will post 6.15 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on AMD shares. Wedbush raised their price target on shares of Advanced Micro Devices from $290.00 to $400.00 and gave the company an "outperform" rating in a research note on Monday, May 4th. Citigroup lowered Advanced Micro Devices from a "buy" rating to a "market perform" rating in a report on Friday, June 12th. Jefferies Financial Group cut Advanced Micro Devices from a "buy" rating to a "hold" rating in a research report on Wednesday, May 6th. Seaport Research Partners raised Advanced Micro Devices from a "neutral" rating to a "buy" rating and set a $430.00 target price on the stock in a research note on Wednesday, May 6th. Finally, Sanford C. Bernstein set a $600.00 target price on Advanced Micro Devices and gave the company an "outperform" rating in a research note on Wednesday, June 17th. Two investment 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 given a Sell rating to the company. Based on data from MarketBeat, Advanced Micro Devices currently has a consensus rating of "Moderate Buy" and a consensus price target of $453.92.

Trending Headlines about Advanced Micro Devices

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

• Positive Sentiment: Goldman Sachs and Wells Fargo both raised their price targets on AMD, citing strong server CPU demand, pricing power, and continued AI-related growth. AMD, Nvidia, Micron, Oracle, Dell, Intel, and More Stocks That Explain Today’s Market
• Positive Sentiment: AMD’s AI story got another boost after Turing said it began using AMD GPUs for 10% of its AI training and brought in AMD Ventures as a backer, expanding AMD’s reach into autonomous driving. AMD Gains AI Customer as $600 Million Self-Driving Startup Adopts Its GPUs
• Positive Sentiment: AMD is also benefiting from the view that it could close the gap with Nvidia as data center revenue and AI accelerator demand continue to accelerate, keeping long-term growth expectations elevated. AMD Is 11% Away From Joining the $1 Trillion Club. Could It Get There This Year?
• Neutral Sentiment: Cathie Wood’s ARK Invest sold about $8 million of AMD shares, which may add some near-term supply but does not change the company’s operating outlook. AMD Stock: Cathie Wood Sells $8M in AMD Despite Growing Analyst Optimism
• Neutral Sentiment: Investors are also watching commentary that AMD’s AI momentum is strong, but expectations may already be high after the stock’s sharp run and recent record levels. Advanced Micro Devices (AMD) Wins Fresh Analyst Backing, Is The Upside Already Priced In?
• Negative Sentiment: AMD is slipping with the broader semiconductor and AI trade as investors rotate out of high-multiple tech names and await fresh macro catalysts such as Fed minutes. NVDA, AMD, and INTC Forecasts – Stalling AI Trade Pressures Chip Stocks

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.

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