Apollon Wealth Management LLC Has $18.62 Million Position in Advanced Micro Devices, Inc. $AMD

Key Points

• Apollon Wealth Management increased its AMD stake by 8.1% in the first quarter, ending with 91,551 shares valued at about $18.6 million.
• Insider selling was notable: EVP Paul Darren Grasby and Director Nora Denzel both sold shares, and insiders sold 378,032 shares worth roughly $161.9 million over the last quarter.
• AMD reported strong quarterly results, beating EPS and revenue estimates, while analysts remain broadly bullish with a Moderate Buy consensus and an average target price of $440.41.

Apollon Wealth Management LLC lifted its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 8.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 91,551 shares of the semiconductor manufacturer's stock after acquiring an additional 6,839 shares during the period. Apollon Wealth Management LLC's holdings in Advanced Micro Devices were worth $18,624,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in AMD. Joseph Group Capital Management bought a new stake in Advanced Micro Devices during the fourth quarter worth $25,000. Cornerstone Financial Management LLC bought a new position in shares of Advanced Micro Devices in the 4th quarter valued at $27,000. Sarver Vrooman Wealth Advisors bought a new position in shares of Advanced Micro Devices in the 4th quarter valued at $27,000. Basepoint Wealth LLC acquired a new position in shares of Advanced Micro Devices during the 4th quarter worth $30,000. Finally, Wilkerson Advisory Group LLC bought a new stake in shares of Advanced Micro Devices during the 4th quarter worth $33,000. Institutional investors and hedge funds own 71.34% of the company's stock.

Insider Activity at Advanced Micro Devices

In related news, EVP Paul Darren Grasby sold 24,376 shares of the firm's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $444.39, for a total transaction of $10,832,450.64. Following the completion of the transaction, the executive vice president directly owned 105,222 shares of the company's stock, valued at $46,759,604.58. This trade represents a 18.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Nora Denzel sold 8,626 shares of Advanced Micro Devices stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $522.00, for a total value of $4,502,772.00. Following the transaction, the director directly owned 87,173 shares in the company, valued at $45,504,306. The trade was a 9.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 378,032 shares of company stock valued at $161,876,596 in the last quarter. Insiders own 0.50% of the company's stock.

Advanced Micro Devices Stock Performance

Shares of AMD stock opened at $521.58 on Monday. The firm has a market capitalization of $850.49 billion, a price-to-earnings ratio of 171.01, a PEG ratio of 1.54 and a beta of 2.50. The company has a current ratio of 2.72, a quick ratio of 1.96 and a debt-to-equity ratio of 0.04. The business's 50-day moving average price is $445.21 and its 200-day moving average price is $296.64. Advanced Micro Devices, Inc. has a 12 month low of $133.50 and a 12 month high of $562.99.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share (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 company had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $9.90 billion. During the same quarter in the prior year, the firm posted $0.96 earnings per share. The firm's revenue was up 37.8% compared to the same quarter last year. Equities research analysts forecast that Advanced Micro Devices, Inc. will post 6.15 EPS for the current year.

Wall Street Analysts Forecast Growth

AMD has been the topic of several research analyst reports. Weiss Ratings raised Advanced Micro Devices from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, May 6th. KeyCorp boosted 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. Susquehanna increased their target price on shares of Advanced Micro Devices from $375.00 to $450.00 and gave the stock a "positive" rating in a report on Wednesday, May 6th. Royal Bank Of Canada raised their price target on shares of Advanced Micro Devices from $325.00 to $400.00 and gave the company a "sector perform" rating in a research note on Wednesday, May 6th. Finally, Morgan Stanley lifted their price target on shares of Advanced Micro Devices from $360.00 to $410.00 and gave the company an "equal weight" rating in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $440.41.

Trending Headlines about Advanced Micro Devices

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

• Positive Sentiment: Wall Street sentiment remains upbeat, with multiple analysts raising AMD price targets in June, including a street-high call from UBS, as firms increasingly view AMD as a bigger player in AI infrastructure and data center CPUs.
• Positive Sentiment: AMD continues to gain credibility in enterprise AI, including recognition from Gartner as a leading server CPU company, which supports the long-term growth case for its data center business. Article Title
• Positive Sentiment: New business wins are also helping sentiment, including a definitive agreement with Rackspace Technology to deploy AMD-based infrastructure, reinforcing demand for AMD chips in cloud and enterprise workloads. Article Title
• Positive Sentiment: Several recent articles argue AMD still has meaningful upside as investors focus on its CPU and AI data center growth, with some bullish commentary suggesting the market may still be underappreciating its long-term earnings power.
• Neutral Sentiment: One recent piece highlighted both the positives and a caution on AMD, noting the stock’s huge six-month run and suggesting investors should stay aware of valuation risk after such a strong rally.
• Negative Sentiment: The semiconductor group has also been under pressure today, with AI chip names, including AMD, softening as momentum in the sector cools and investors rotate out of the space. Article Title
• Negative Sentiment: Bearish/neutral valuation commentary has also picked up, with some coverage questioning whether AMD’s rapid stock gains have already priced in a lot of future growth, which can weigh on the shares in the short term.

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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