Artisan Partners Limited Partnership Sells 805,979 Shares of Advanced Micro Devices, Inc. $AMD

Key Points

• Artisan Partners cut its AMD stake by 34.5% in the fourth quarter, selling 805,979 shares and ending with 1,527,275 shares valued at about $327.1 million.
• Analysts remain bullish on Advanced Micro Devices, with several firms recently raising price targets; the consensus rating is now a “Moderate Buy” with an average target price of $428.65.
• AMD’s fundamentals and AI push continue to draw attention, as the company recently beat quarterly earnings and revenue estimates while announcing moves such as a Rackspace AI deployment and the MEXT acquisition to strengthen its data-center AI strategy.

Artisan Partners Limited Partnership lessened its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 34.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,527,275 shares of the semiconductor manufacturer's stock after selling 805,979 shares during the period. Artisan Partners Limited Partnership owned about 0.09% of Advanced Micro Devices worth $327,081,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Joseph Group Capital Management acquired a new stake in Advanced Micro Devices in the 4th quarter valued at about $25,000. Cornerstone Financial Management LLC acquired a new stake in Advanced Micro Devices in the 4th quarter valued at about $27,000. Sarver Vrooman Wealth Advisors acquired a new stake in Advanced Micro Devices in the 4th quarter valued at about $27,000. Basepoint Wealth LLC acquired a new stake in Advanced Micro Devices in the 4th quarter valued at about $30,000. Finally, Wilkerson Advisory Group LLC acquired a new stake in Advanced Micro Devices in the 4th quarter valued at about $33,000. 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: AMD announced a definitive agreement with Rackspace Technology to deploy an initial 30 MW of AMD-based AI compute across Rackspace’s global data centers, reinforcing AMD’s push deeper into enterprise AI infrastructure and potentially expanding future chip demand. Article: AMD and Rackspace Technology Sign Definitive Agreement for Phased Deployment of 30 MW of AMD AI Compute
• Positive Sentiment: AMD’s acquisition of MEXT was highlighted as a strategic move to address AI memory bottlenecks, a key constraint in data-center workloads, which could improve the competitiveness of AMD’s AI chips and support longer-term growth. Article: AMD stock rallies after MEXT acquisition; targets AI memory bottleneck
• Positive Sentiment: Analysts remained constructive on AMD’s AI roadmap, with Citi and BofA raising targets and Wolfe Research saying there is room for upside to consensus estimates, which can help support investor confidence in the stock. Article: Wolfe Research sees substantial upside to AMD estimates
• Neutral Sentiment: AMD remained one of the most closely watched AI-chip names, with articles noting strong year-to-date gains and continued interest from investors, indicating momentum remains high but also that expectations are elevated. Article: AMD Stock Price Forecast — What Analysts Expect from the Chipmaker Now
• Negative Sentiment: Despite the bullish news flow, AMD slipped as traders locked in gains after a strong surge, and Cathie Wood’s Ark Invest also trimmed its position, adding to near-term selling pressure. Article: ARK Invest Offloads Over $167M in Roku (ROKU) and AMD (AMD) Stock in Major Monday Selloff
• Negative Sentiment: Some commentary warned AMD may be near a valuation “cliff” after its sharp rally, suggesting investors are increasingly cautious about how much upside is already priced in. Article: AMD Is Standing Precariously Close To The Cliff

Analysts Set New Price Targets

Several brokerages have issued reports on AMD. Wolfe Research set a $450.00 price objective on shares of Advanced Micro Devices and gave the stock an "outperform" rating in a research report on Monday. Truist Financial set a $478.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, May 6th. Raymond James Financial began coverage on shares of Advanced Micro Devices in a research report on Wednesday, May 6th. They set a "market perform" rating for the company. Melius Research set a $540.00 price objective on shares of Advanced Micro Devices in a research report on Monday, May 18th. Finally, Wedbush raised their price objective on shares of Advanced Micro Devices from $290.00 to $400.00 and gave the stock an "outperform" rating in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $428.65.

Advanced Micro Devices Stock Down 7.3%

NASDAQ AMD opened at $507.29 on Wednesday. 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 1-year low of $125.77 and a 1-year high of $558.37. The company has a 50 day moving average of $398.80 and a 200-day moving average of $279.06. The company has a market cap of $827.19 billion, a price-to-earnings ratio of 166.33, a PEG ratio of 1.60 and a beta of 2.50.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates of $1.29 by $0.08. Advanced Micro Devices had a net margin of 13.37% and a return on equity of 9.55%. The company had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $9.90 billion. During the same period in the previous year, the business earned $0.96 earnings per share. The firm's quarterly revenue was up 37.8% on a year-over-year basis. On average, equities research analysts expect that Advanced Micro Devices, Inc. will post 6.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Nora Denzel sold 8,626 shares of Advanced Micro Devices stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $522.00, for a total value of $4,502,772.00. Following the completion of the sale, the director directly owned 87,173 shares in the company, valued at approximately $45,504,306. The trade was a 9.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark D. Papermaster sold 31,320 shares of Advanced Micro Devices stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $350.00, for a total transaction of $10,962,000.00. Following the completion of the transaction, the executive vice president directly owned 1,236,037 shares in the company, valued at $432,612,950. This trade represents a 2.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 372,032 shares of company stock valued at $158,658,616 in the last quarter. Corporate insiders own 0.50% of the company's stock.

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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