Element Squared LLC Sells 1,572 Shares of Advanced Micro Devices, Inc. $AMD

Key Points

• Element Squared LLC reduced its AMD stake by 12.5% in the first quarter, selling 1,572 shares and ending with 11,048 shares worth about $2.25 million.
• Wall Street sentiment remains bullish, with several analysts raising price targets and AMD holding a consensus rating of “Moderate Buy” with an average target price of $448.78.
• AMD’s recent fundamentals and momentum look strong: the company beat quarterly EPS and revenue estimates, while news flow highlights growing AI/data center demand and continued investor interest despite notable insider selling.

Element Squared LLC cut its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 12.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,048 shares of the semiconductor manufacturer's stock after selling 1,572 shares during the period. Advanced Micro Devices comprises approximately 1.3% of Element Squared LLC's investment portfolio, making the stock its 18th biggest position. Element Squared LLC's holdings in Advanced Micro Devices were worth $2,247,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of AMD. Joseph Group Capital Management acquired a new position in Advanced Micro Devices in the 4th quarter worth about $25,000. Sarver Vrooman Wealth Advisors bought a new position in Advanced Micro Devices in the fourth quarter valued at about $27,000. Cornerstone Financial Management LLC acquired a new stake in shares of Advanced Micro Devices during the fourth quarter valued at about $27,000. Basepoint Wealth LLC bought a new stake in shares of Advanced Micro Devices during the fourth quarter worth about $30,000. Finally, Aviso Financial Inc. grew its holdings in shares of Advanced Micro Devices by 400.0% during 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. Institutional investors and hedge funds own 71.34% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. TD Cowen raised their price objective on shares of Advanced Micro Devices from $500.00 to $600.00 and gave the company a "buy" rating in a report on Monday, June 1st. Needham & Company LLC raised shares of Advanced Micro Devices to a "buy" rating in a report on Wednesday, May 6th. Melius Research set a $540.00 price target on shares of Advanced Micro Devices in a research report on Monday, May 18th. Stifel Nicolaus upped their price target on shares of Advanced Micro Devices from $320.00 to $450.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. Finally, Roth Mkm reaffirmed a "buy" rating and set a $500.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Advanced Micro Devices presently has a consensus rating of "Moderate Buy" and an average target price of $448.78.

Key Advanced Micro Devices News

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

• Positive Sentiment: Wells Fargo raised its AMD price target to $615 from $505, citing stronger server CPU demand and better long-term visibility. Article Title
• Positive Sentiment: More Wall Street firms are turning bullish on AMD as AI infrastructure spending broadens beyond Nvidia and into chip suppliers. Article Title
• Positive Sentiment: AMD’s strong AI and data center growth narrative continues to attract momentum buyers and options traders. Article Title
• Neutral Sentiment: AMD has seen unusually heavy insider selling over the past six months, which may temper some investor enthusiasm. Article Title

Advanced Micro Devices Stock Performance

Shares of AMD stock opened at $580.91 on Wednesday. The business's 50 day simple moving average is $456.48 and its 200 day simple moving average is $301.41. Advanced Micro Devices, Inc. has a one year low of $133.50 and a one year high of $584.73. The stock has a market capitalization of $947.23 billion, a PE ratio of 190.46, a PEG ratio of 1.59 and a beta of 2.50. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.72 and a quick ratio of 1.96.

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 (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $10.25 billion during the quarter, compared to analyst estimates of $9.90 billion. During the same quarter last year, the business earned $0.96 EPS. The company's revenue was up 37.8% compared to the same quarter last year. As a group, research analysts forecast that Advanced Micro Devices, Inc. will post 6.15 earnings per share for the current year.

Insider Activity

In related news, Director Nora Denzel sold 8,626 shares of the business's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $522.00, for a total transaction of $4,502,772.00. Following the transaction, the director owned 87,173 shares in the company, valued at $45,504,306. The trade was a 9.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lisa T. Su sold 125,000 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $460.69, for a total transaction of $57,586,250.00. Following the transaction, the chief executive officer directly owned 2,896,899 shares in the company, valued at approximately $1,334,572,400.31. This represents a 4.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 378,032 shares of company stock worth $161,876,596. 0.50% of the stock is owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.