ANTIPODES PARTNERS Ltd Cuts Position in Advanced Micro Devices, Inc. $AMD

Key Points

• ANTIPODES PARTNERS Ltd cut its AMD stake by 57.9% in the fourth quarter, selling 403,308 shares and leaving it with 293,078 shares valued at about $62.8 million.
• AMD reported a strong quarter, with earnings of $1.37 per share and revenue of $10.25 billion, both above expectations, as data center sales surged on demand for EPYC CPUs and Instinct GPUs.
• Sentiment around the stock remains positive: several analysts raised price targets after earnings, and the company’s shares have attracted significant institutional ownership, with hedge funds and other institutions holding 71.34% of the stock.

ANTIPODES PARTNERS Ltd lessened its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 57.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 293,078 shares of the semiconductor manufacturer's stock after selling 403,308 shares during the quarter. ANTIPODES PARTNERS Ltd's holdings in Advanced Micro Devices were worth $62,770,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMD. Jennison Associates LLC lifted its stake in shares of Advanced Micro Devices by 181.6% during the 4th quarter. Jennison Associates LLC now owns 10,910,310 shares of the semiconductor manufacturer's stock worth $2,336,552,000 after acquiring an additional 7,035,991 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Advanced Micro Devices by 335.9% during the 3rd quarter. Wellington Management Group LLP now owns 4,847,825 shares of the semiconductor manufacturer's stock worth $784,330,000 after acquiring an additional 3,735,807 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Advanced Micro Devices by 104.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 5,991,297 shares of the semiconductor manufacturer's stock worth $1,283,096,000 after acquiring an additional 3,059,935 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Advanced Micro Devices by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 158,522,860 shares of the semiconductor manufacturer's stock worth $33,949,256,000 after acquiring an additional 2,525,109 shares during the last quarter. Finally, Rafferty Asset Management LLC raised its position in Advanced Micro Devices by 56.0% during the 2nd quarter. Rafferty Asset Management LLC now owns 6,772,923 shares of the semiconductor manufacturer's stock valued at $961,078,000 after purchasing an additional 2,430,533 shares in the last quarter. Hedge funds and other institutional investors own 71.34% of the company's stock.

More Advanced Micro Devices News

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

• Positive Sentiment: Q1 earnings and revenue both topped expectations, with data center sales up sharply on strong demand for EPYC CPUs and Instinct GPUs.
• Positive Sentiment: Several analysts raised price targets after the earnings report, citing AMD’s accelerating AI and data center growth.
• Positive Sentiment: AMD expanded FSR 4.1 support to older GPUs and introduced new Ryzen PRO 9000 offerings, reinforcing product momentum in client and gaming.

Advanced Micro Devices Stock Performance

Shares of AMD stock opened at $424.10 on Friday. The company has a market capitalization of $691.54 billion, a P/E ratio of 139.05, a P/E/G ratio of 1.34 and a beta of 2.40. The business's 50 day moving average is $273.49 and its two-hundred day moving average is $240.52. The company has a current ratio of 2.72, a quick ratio of 1.96 and a debt-to-equity ratio of 0.04. Advanced Micro Devices, Inc. has a 12-month low of $107.67 and a 12-month high of $469.21.

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. The business had revenue of $10.25 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 37.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.96 earnings per share. Analysts expect that Advanced Micro Devices, Inc. will post 6.17 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on AMD. Zacks Research raised Advanced Micro Devices from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 5th. Wall Street Zen raised Advanced Micro Devices from a "hold" rating to a "buy" rating in a research report on Monday, January 26th. Cantor Fitzgerald lifted their target price on Advanced Micro Devices to $500.00 and gave the company an "overweight" rating in a research report on Wednesday, May 6th. Citigroup lifted their target price on Advanced Micro Devices from $248.00 to $358.00 and gave the company a "neutral" rating in a research report on Wednesday, May 6th. Finally, KeyCorp lifted their target price on Advanced Micro Devices from $330.00 to $530.00 and gave the company an "overweight" rating in a research report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and twelve have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $396.95.

Insider Buying and Selling

In related news, CEO Lisa T. Su sold 125,000 shares of Advanced Micro Devices stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $445.51, for a total transaction of $55,688,750.00. Following the transaction, the chief executive officer 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark D. Papermaster sold 31,320 shares of Advanced Micro Devices stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $350.00, for a total value of $10,962,000.00. Following the transaction, the executive vice president owned 1,236,037 shares in the company, valued at approximately $432,612,950. The trade was a 2.47% 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 have sold 309,598 shares of company stock worth $105,644,316. 0.50% of the stock is owned by corporate insiders.

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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