Alta Advisers Ltd Lowers Stock Holdings in Advanced Micro Devices, Inc. $AMD

Key Points

• Alta Advisers Ltd reduced its AMD stake by 21% in the fourth quarter, selling 1,700 shares and ending with 6,392 shares worth about $1.37 million.
• Several other institutional investors were active in AMD, and overall hedge funds and other institutions own 71.34% of the company’s stock.
• AMD’s latest quarter showed strong results, with EPS of $1.37 and revenue of $10.25 billion, both ahead of expectations, while analysts currently rate the stock a Moderate Buy with a consensus target of $410.

Alta Advisers Ltd decreased its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 21.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,392 shares of the semiconductor manufacturer's stock after selling 1,700 shares during the period. Advanced Micro Devices makes up approximately 0.5% of Alta Advisers Ltd's holdings, making the stock its 27th largest holding. Alta Advisers Ltd's holdings in Advanced Micro Devices were worth $1,369,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AMD. Joseph Group Capital Management bought a new position in shares of Advanced Micro Devices during the fourth quarter valued at about $25,000. Koesten Hirschmann & Crabtree INC. increased its stake in Advanced Micro Devices by 61.0% in the 3rd quarter. Koesten Hirschmann & Crabtree INC. now owns 161 shares of the semiconductor manufacturer's stock worth $26,000 after purchasing an additional 61 shares during the period. Key Capital Management INC purchased a new position in Advanced Micro Devices in the 4th quarter worth approximately $38,000. PFS Partners LLC increased its stake in Advanced Micro Devices by 269.2% in the 4th quarter. PFS Partners LLC now owns 192 shares of the semiconductor manufacturer's stock worth $41,000 after purchasing an additional 140 shares during the period. Finally, Aviso Financial Inc. grew its holdings in shares of Advanced Micro Devices by 400.0% in the third quarter. Aviso Financial Inc. now owns 200 shares of the semiconductor manufacturer's stock worth $32,000 after purchasing an additional 160 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company's stock.

Trending Headlines about Advanced Micro Devices

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

• Positive Sentiment: AMD is being viewed as a major AI beneficiary, with articles highlighting rising demand for its Instinct GPUs, EPYC CPUs, and rack-scale AI infrastructure products. OneQode to Deploy AMD Instinct GPUs and Plans for AMD Helios Rack-Scale Solution for Global AI Infrastructure
• Positive Sentiment: Wall Street appears to be raising its long-term expectations for AMD, with fresh commentary about a possible path to a $1 trillion market cap and higher price targets from analysts. What Will It Take for AMD’s Market Cap to Hit $1 Trillion?
• Positive Sentiment: Sector-wide strength is also helping AMD, as investors rotate into AI chip stocks beyond Nvidia and bid up semiconductor names broadly. Why Qualcomm, AMD, Intel, other AI stocks are surging sharply on Tuesday
• Neutral Sentiment: Some commentary is more cautionary, noting that momentum in AMD and other chip stocks could eventually face valuation pressure after a strong run. Intel, AMD, and Other Momentum Stocks Look Unstoppable. Look Again.
• Negative Sentiment: There is also competitive concern in the background, with one article arguing Nvidia could pressure AMD in CPUs and related AI markets, which could temper upside if competition intensifies. Nvidia Vs. AMD: Nvidia Will Eat AMD's CPU Lunch

Insider Transactions at Advanced Micro Devices

In other news, CEO Lisa T. Su sold 125,000 shares of Advanced Micro Devices stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $445.51, for a total transaction of $55,688,750.00. Following the completion of the transaction, the chief executive officer directly owned 3,021,899 shares in the company, valued at approximately $1,346,286,223.49. This trade represents a 3.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Paul Darren Grasby sold 24,376 shares of Advanced Micro Devices stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $444.39, for a total transaction of $10,832,450.64. Following the transaction, the executive vice president owned 105,222 shares of the company's stock, valued at $46,759,604.58. The trade was a 18.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 329,085 shares of company stock valued at $114,051,007. Insiders own 0.50% of the company's stock.

Wall Street Analyst Weigh In

AMD has been the topic of several recent analyst reports. Northland Securities restated a "market perform" rating and issued a $260.00 target price on shares of Advanced Micro Devices in a report on Monday, April 27th. Barclays raised their target price on shares of Advanced Micro Devices from $300.00 to $500.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. Phillip Securities upgraded shares of Advanced Micro Devices from a "moderate buy" rating to a "strong-buy" rating in a report on Sunday, February 8th. Jefferies Financial Group cut Advanced Micro Devices from a "buy" rating to a "hold" rating in a research note on Wednesday, May 6th. Finally, KeyCorp raised their target price on Advanced Micro Devices from $330.00 to $530.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and twelve have given a Hold rating to the company's stock. According to MarketBeat, Advanced Micro Devices has a consensus rating of "Moderate Buy" and a consensus target price of $410.00.

Advanced Micro Devices Stock Performance

Advanced Micro Devices stock opened at $503.89 on Wednesday. The stock's 50 day simple moving average is $309.03 and its two-hundred day simple moving average is $250.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.96 and a current ratio of 2.72. The stock has a market cap of $821.64 billion, a price-to-earnings ratio of 165.21, a PEG ratio of 1.37 and a beta of 2.40. Advanced Micro Devices, Inc. has a fifty-two week low of $108.62 and a fifty-two week high of $506.96.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings data 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. The business 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%.The business's revenue was up 37.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.96 EPS. As a group, analysts expect that Advanced Micro Devices, Inc. will post 6.2 earnings per share for the current fiscal 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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