Advanced Micro Devices, Inc. $AMD Shares Sold by Patten & Patten Inc. TN

Key Points

• Patten & Patten Inc. TN trimmed its AMD stake by 11.5% in the fourth quarter, selling 5,229 shares and leaving it with 40,212 shares worth about $8.6 million.
• AMD insiders have also been selling: CEO Lisa T. Su sold 125,000 shares, and EVP Paul Darren Grasby sold 7,500 shares. In the last 90 days, insiders sold 304,672 shares worth about $70.1 million.
• Despite the selling, AMD’s latest earnings beat expectations, with $1.37 EPS on $10.25 billion in revenue and strong year-over-year growth, while analysts have been raising price targets on optimism around data-center and AI demand.

Patten & Patten Inc. TN lowered its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 11.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,212 shares of the semiconductor manufacturer's stock after selling 5,229 shares during the quarter. Patten & Patten Inc. TN's holdings in Advanced Micro Devices were worth $8,612,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AMD. Joseph Group Capital Management acquired a new position in shares of Advanced Micro Devices during the fourth quarter valued at approximately $25,000. ORG Wealth Partners LLC raised its holdings in shares of Advanced Micro Devices by 39.7% during the third quarter. ORG Wealth Partners LLC now owns 162 shares of the semiconductor manufacturer's stock valued at $26,000 after acquiring an additional 46 shares during the last quarter. Koesten Hirschmann & Crabtree INC. raised its holdings in shares of Advanced Micro Devices by 61.0% during the third quarter. Koesten Hirschmann & Crabtree INC. now owns 161 shares of the semiconductor manufacturer's stock valued at $26,000 after acquiring an additional 61 shares during the last quarter. Aviso Financial Inc. raised its holdings in shares of Advanced Micro Devices by 400.0% during the third quarter. Aviso Financial Inc. now owns 200 shares of the semiconductor manufacturer's stock valued at $32,000 after acquiring an additional 160 shares during the last quarter. Finally, Delos Wealth Advisors LLC raised its holdings in shares of Advanced Micro Devices by 100.0% during the third quarter. Delos Wealth Advisors LLC now owns 200 shares of the semiconductor manufacturer's stock valued at $32,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 71.34% of the company's stock.

Insiders Place Their Bets

In other news, CEO Lisa T. Su sold 125,000 shares of the company's stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $214.36, for a total value of $26,795,000.00. Following the transaction, the chief executive officer owned 3,152,476 shares of the company's stock, valued at $675,764,755.36. This represents a 3.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Paul Darren Grasby sold 7,500 shares of the company's stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $204.87, for a total value of $1,536,525.00. Following the completion of the transaction, the executive vice president directly owned 129,598 shares in the company, valued at approximately $26,550,742.26. This trade represents a 5.47% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 304,672 shares of company stock worth $70,135,070. Company insiders own 0.50% of the company's stock.

Key Advanced Micro Devices News

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

• Positive Sentiment: AMD’s latest earnings and guidance continue to fuel the rally, with the company beating expectations and highlighting strong data-center/AI demand. AMD, Micron shares surge on a big day for chip-sector outperformance
• Positive Sentiment: Analysts are getting more bullish after earnings, including new or raised price targets and higher EPS estimates that suggest further upside if AI server CPU demand stays strong. As CPUs Steal the Show, AMD Stock Just Got a New Street-High Price Target
• Positive Sentiment: Wall Street commentary suggests the AI opportunity is broadening from GPUs to CPUs, which helps position AMD as a key beneficiary of the next phase of AI infrastructure spending. Wall Street sees 'changing of the guard in AI' as Intel, AMD shares soar while Nvidia lags
• Neutral Sentiment: Coverage also notes that AMD shares are drawing attention from traders and momentum investors after the stock’s sharp run, which could keep volatility elevated. What Is AMD Stock’s Minimum & Maximum Potential After Earnings?
• Negative Sentiment: Some investors are locking in gains after the huge rally, including Cathie Wood/ARK trimming AMD holdings, which may cap near-term upside. Cathie Wood Dumps More AMD Shares Despite Its Massive 108% Rally. Here's Why.

Analyst Ratings Changes

AMD has been the subject of several recent research reports. UBS Group set a $310.00 price target on Advanced Micro Devices in a report on Wednesday, February 4th. Phillip Securities raised Advanced Micro Devices from a "moderate buy" rating to a "strong-buy" rating in a report on Sunday, February 8th. Morgan Stanley increased their price target on Advanced Micro Devices from $360.00 to $410.00 and gave the company an "equal weight" rating in a report on Wednesday. JPMorgan Chase & Co. increased their price target on Advanced Micro Devices from $270.00 to $385.00 and gave the company a "neutral" rating in a report on Wednesday. Finally, Weiss Ratings raised Advanced Micro Devices from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday. 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. According to MarketBeat, Advanced Micro Devices presently has an average rating of "Moderate Buy" and a consensus target price of $388.84.

Advanced Micro Devices Price Performance

NASDAQ:AMD opened at $455.19 on Friday. Advanced Micro Devices, Inc. has a 52 week low of $101.60 and a 52 week high of $456.29. The stock's fifty day moving average is $243.98 and its two-hundred day moving average is $231.76. The company has a market capitalization of $742.23 billion, a P/E ratio of 149.24, a P/E/G ratio of 1.26 and a beta of 2.40. The company has a quick ratio of 2.01, a current ratio of 2.72 and a debt-to-equity ratio of 0.04.

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, 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 business had revenue of $10.25 billion for the quarter, compared to analyst estimates of $9.90 billion. During the same quarter in the prior year, the company posted $0.96 EPS. The company's quarterly revenue was up 37.8% on a year-over-year basis. Equities analysts expect that Advanced Micro Devices, Inc. will post 5.95 EPS for the current year.

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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