Corebridge Financial Inc. Reduces Stake in Advanced Micro Devices, Inc. $AMD

Key Points

• Corebridge Financial Inc. reduced its stake in Advanced Micro Devices by 3.4%, selling 17,030 shares, while maintaining holdings worth approximately $50.35 million.
• Insider executives Mark D. Papermaster and Paul Darren Grasby both sold shares recently, decreasing their positions by 1.04% and 7.38%, respectively.
• AMD's stock is currently trading at around $167.76, with a recent earnings report revealing a missed EPS estimate of $0.48 compared to the expected $0.54.

Corebridge Financial Inc. reduced its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 3.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 490,071 shares of the semiconductor manufacturer's stock after selling 17,030 shares during the quarter. Corebridge Financial Inc.'s holdings in Advanced Micro Devices were worth $50,350,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in AMD. Greenline Partners LLC purchased a new stake in Advanced Micro Devices in the 4th quarter valued at $28,000. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in Advanced Micro Devices by 277.8% in the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 272 shares of the semiconductor manufacturer's stock valued at $28,000 after buying an additional 200 shares in the last quarter. American Capital Advisory LLC grew its holdings in Advanced Micro Devices by 90.3% in the 1st quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer's stock valued at $28,000 after buying an additional 130 shares in the last quarter. Kozak & Associates Inc. grew its holdings in Advanced Micro Devices by 67.6% in the 1st quarter. Kozak & Associates Inc. now owns 305 shares of the semiconductor manufacturer's stock valued at $29,000 after buying an additional 123 shares in the last quarter. Finally, Mpwm Advisory Solutions LLC purchased a new stake in Advanced Micro Devices in the 4th quarter valued at $30,000. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Paul Darren Grasby sold 10,000 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $173.21, for a total value of $1,732,100.00. Following the sale, the executive vice president owned 125,505 shares of the company's stock, valued at $21,738,721.05. This trade represents a 7.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark D. Papermaster sold 17,998 shares of the stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $155.03, for a total value of $2,790,229.94. Following the completion of the sale, the executive vice president directly owned 1,713,710 shares in the company, valued at $265,676,461.30. This represents a 1.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 252,998 shares of company stock valued at $41,415,580 in the last quarter. Corporate insiders own 0.06% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on AMD. The Goldman Sachs Group upgraded Advanced Micro Devices to a "hold" rating and set a $140.00 price target for the company in a report on Thursday, July 10th. Deutsche Bank Aktiengesellschaft set a $200.00 price target on Advanced Micro Devices in a report on Wednesday, August 6th. Benchmark increased their price target on Advanced Micro Devices from $170.00 to $210.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Wall Street Zen upgraded Advanced Micro Devices from a "sell" rating to a "hold" rating in a report on Monday, May 12th. Finally, Piper Sandler increased their price target on Advanced Micro Devices from $140.00 to $190.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $181.33.

Advanced Micro Devices Trading Up 0.3%

AMD traded up $0.51 during mid-day trading on Wednesday, hitting $167.13. 36,802,466 shares of the stock were exchanged, compared to its average volume of 66,581,004. The company has a current ratio of 2.49, a quick ratio of 1.81 and a debt-to-equity ratio of 0.05. The company has a market cap of $271.23 billion, a PE ratio of 96.05, a PEG ratio of 1.97 and a beta of 1.94. The firm's fifty day moving average is $157.01 and its two-hundred day moving average is $122.85. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $186.65.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.54 by ($0.06). The company had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.41 billion. Advanced Micro Devices had a net margin of 9.57% and a return on equity of 7.54%. Advanced Micro Devices's revenue for the quarter was up 31.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.69 EPS. Advanced Micro Devices has set its Q3 2025 guidance at EPS. Equities analysts forecast that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices announced that its board has initiated a share repurchase plan on Wednesday, May 14th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

About Advanced Micro Devices

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates through Data Center, Client, Gaming, and Embedded segments. The company offers x86 microprocessors and graphics processing units (GPUs) as an accelerated processing unit, chipsets, data center, and professional GPUs; and embedded processors, and semi-custom system-on-chip (SoC) products, microprocessor and SoC development services and technology, data processing unites, field programmable gate arrays (FPGA), and adaptive SoC products.