Easterly Investment Partners LLC Reduces Stake in Advanced Micro Devices, Inc. $AMD

Key Points

• Easterly Investment Partners cut its AMD stake by 44.3% in the fourth quarter, leaving it with 8,200 shares valued at about $1.76 million.
• AMD’s latest quarter showed solid growth, with EPS of $1.37 topping estimates and revenue of $10.25 billion beating expectations; sales rose 37.8% year over year.
• Wall Street remains broadly upbeat, with analysts lifting price targets and consensus standing at Moderate Buy, even as the stock has seen insider selling and faces competition and export-related risks.

Easterly Investment Partners LLC lowered its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 44.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,200 shares of the semiconductor manufacturer's stock after selling 6,510 shares during the period. Easterly Investment Partners LLC's holdings in Advanced Micro Devices were worth $1,756,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. James J. Burns & Company LLC boosted its position in Advanced Micro Devices by 2.3% in the fourth quarter. James J. Burns & Company LLC now owns 1,816 shares of the semiconductor manufacturer's stock valued at $389,000 after buying an additional 40 shares during the last quarter. Cassaday & Co Wealth Management LLC boosted its position in Advanced Micro Devices by 0.9% in the fourth quarter. Cassaday & Co Wealth Management LLC now owns 4,912 shares of the semiconductor manufacturer's stock valued at $1,052,000 after buying an additional 43 shares during the last quarter. Willis Johnson & Associates Inc. boosted its position in Advanced Micro Devices by 1.9% in the fourth quarter. Willis Johnson & Associates Inc. now owns 2,304 shares of the semiconductor manufacturer's stock valued at $493,000 after buying an additional 44 shares during the last quarter. Addison Advisors LLC boosted its position in Advanced Micro Devices by 12.7% in the third quarter. Addison Advisors LLC now owns 400 shares of the semiconductor manufacturer's stock valued at $65,000 after buying an additional 45 shares during the last quarter. Finally, Smith Moore & CO. boosted its position in Advanced Micro Devices by 1.1% in the third quarter. Smith Moore & CO. now owns 3,962 shares of the semiconductor manufacturer's stock valued at $641,000 after buying an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company's stock.

Advanced Micro Devices Stock Down 1.2%

NASDAQ AMD opened at $510.13 on Tuesday. The business has a fifty day moving average price of $333.88 and a 200 day moving average price of $257.70. Advanced Micro Devices, Inc. has a one year low of $111.01 and a one year high of $527.20. 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 company has a market cap of $831.82 billion, a P/E ratio of 167.26, a P/E/G ratio of 1.52 and a beta of 2.40.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 EPS for the quarter, beating the consensus estimate of $1.29 by $0.08. The firm had revenue of $10.25 billion during 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 firm's revenue was up 37.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.96 EPS. Research analysts anticipate that Advanced Micro Devices, Inc. will post 6.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on AMD shares. JPMorgan Chase & Co. boosted 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, May 6th. Susquehanna boosted their price target on Advanced Micro Devices from $375.00 to $450.00 and gave the company a "positive" rating in a report on Wednesday, May 6th. Royal Bank Of Canada boosted their price target on Advanced Micro Devices from $325.00 to $400.00 and gave the company a "sector perform" rating in a report on Wednesday, May 6th. Morgan Stanley boosted 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, May 6th. Finally, Citigroup boosted their price target on Advanced Micro Devices from $358.00 to $460.00 and gave the company a "neutral" rating in a report on Monday, May 18th. Two 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $419.86.

Key Stories Impacting Advanced Micro Devices

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

• Positive Sentiment: Mizuho raised its price target on AMD to $615 and kept an outperform rating, signaling continued analyst confidence in the stock’s upside.
• Positive Sentiment: AMD extended AM5 platform support through 2029 and introduced new Ryzen X3D gaming chips, which may help sustain demand in its PC lineup. What's Going On With AMD Stock Monday?
• Positive Sentiment: AMD joined DriveNets as an investor in the networking software firm’s $410 million funding round, highlighting AMD’s exposure to surging demand for AI infrastructure. DriveNets secures $410 million in latest funding round, AMD joins as investor
• Neutral Sentiment: AMD’s Taiwan AI commitment and Venice EPYC production ramp reinforce its long-term AI/data-center growth strategy, but these are more about execution than an immediate stock catalyst.
• Negative Sentiment: Nvidia’s launch of the RTX Spark PC chip is seen as a direct challenge to AMD’s core PC processor business, and investors are weighing the risk of tougher competition in AI PCs. Nvidia Just Derailed the Chip Rally. Intel, AMD Are Falling Sharply.
• Negative Sentiment: New U.S. export guidance tightening chip shipments to Chinese entities overseas could limit some AI chip sales opportunities, including for AMD’s MI350x. Nvidia and AMD face new export limits on China subsidiaries

Insider Buying and Selling

In other news, EVP Paul Darren Grasby sold 24,376 shares of the 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 in the company, valued at approximately $46,759,604.58. This represents a 18.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Lisa T. Su sold 125,000 shares of the firm's stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $445.51, for a total value of $55,688,750.00. Following the transaction, the chief executive officer owned 3,021,899 shares of the company's stock, valued at $1,346,286,223.49. This trade represents a 3.97% 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 have sold 329,085 shares of company stock valued at $114,051,007 in the last quarter. Corporate insiders own 0.50% of the company's stock.

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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