Essex Financial Services Inc. Sells 1,428 Shares of Advanced Micro Devices, Inc. $AMD

Key Points

• Essex Financial Services reduced its AMD stake by 16.5% in the fourth quarter, selling 1,428 shares and leaving it with 7,217 shares valued at about $1.55 million.
• Institutional ownership remains high, with hedge funds and other investors holding 71.34% of AMD shares, and several firms recently increased their positions while others trimmed them.
• AMD continues to draw bullish analyst attention thanks to its AI and data center growth prospects; analysts currently rate the stock a “Moderate Buy” with an average target price of $410, while insiders have also sold shares in recent months.

Essex Financial Services Inc. cut its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 16.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,217 shares of the semiconductor manufacturer's stock after selling 1,428 shares during the quarter. Essex Financial Services Inc.'s holdings in Advanced Micro Devices were worth $1,546,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in AMD. Brighton Jones LLC boosted its holdings in shares of Advanced Micro Devices by 178.2% in the fourth quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer's stock worth $5,551,000 after buying an additional 29,438 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in shares of Advanced Micro Devices by 2.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer's stock worth $1,001,000 after buying an additional 234 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of Advanced Micro Devices by 125.1% in the second quarter. Sivia Capital Partners LLC now owns 5,344 shares of the semiconductor manufacturer's stock worth $758,000 after buying an additional 2,970 shares during the last quarter. United Bank boosted its holdings in shares of Advanced Micro Devices by 22.0% in the second quarter. United Bank now owns 13,255 shares of the semiconductor manufacturer's stock worth $1,881,000 after buying an additional 2,392 shares during the last quarter. Finally, Schnieders Capital Management LLC. boosted its holdings in shares of Advanced Micro Devices by 361.0% in the second quarter. Schnieders Capital Management LLC. now owns 9,230 shares of the semiconductor manufacturer's stock worth $1,310,000 after buying an additional 7,228 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company's stock.

Trending Headlines about Advanced Micro Devices

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

• Positive Sentiment: Multiple articles highlighted AMD’s expanding AI and data center opportunity, including bullish takes that the company could be a major winner in the next AI cycle and that Wall Street sees a much larger market opportunity ahead. AMD Could Be the Biggest Winner in the Next AI Battle
• Positive Sentiment: Analyst commentary remained constructive overall, with reports pointing to continued upside potential from AMD’s rapid data center expansion and AI infrastructure demand. Prediction: AMD's Rapid Data Center Expansion Fuels Bullish Target
• Neutral Sentiment: AMD CEO Lisa Su’s China trip and MIT commencement speech kept the company in the news, but the coverage was mostly about leadership presence and AI messaging rather than a direct business catalyst. In China, AMD CEO Lisa Su is understated while Nvidia's Huang is more razzmatazz
• Neutral Sentiment: Rocket One’s acceptance into AMD’s AI Developer Program added another ecosystem-related headline, but the near-term financial impact appears limited. Rocket One Accepted into AMD AI Developer Program
• Negative Sentiment: Several pieces urged caution after AMD’s sharp run-up, including a Seeking Alpha downgrade calling the top and an article noting that there may be less room for mistakes at current levels. AMD: Ring, Ring - The Top Is Calling (Downgrade)
• Negative Sentiment: ARK Invest’s Cathie Wood trimmed her AMD stake, adding to investor concerns that some funds may be taking profits after the stock’s strong rally. Ark Investment's Cathie Wood Just Trimmed Her AMD Stake

Insider Activity at Advanced Micro Devices

In other news, CEO Lisa T. Su sold 125,000 shares of the business's stock in a transaction on 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 approximately $1,346,286,223.49. The trade was a 3.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Paul Darren Grasby sold 24,376 shares of the business'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 sale, the executive vice president owned 105,222 shares in the company, valued at $46,759,604.58. This represents a 18.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 329,085 shares of company stock worth $114,051,007 over the last ninety days. 0.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

AMD has been the topic of a number of research reports. 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 report on Monday, May 4th. Bank of America raised their price objective on shares of Advanced Micro Devices from $450.00 to $500.00 and gave the stock a "buy" rating in a report on Wednesday, May 13th. Wolfe Research initiated coverage on shares of Advanced Micro Devices in a report on Wednesday, May 6th. They issued a "peer perform" rating on the stock. BTIG Research raised shares of Advanced Micro Devices to a "buy" rating in a report on Wednesday, May 6th. Finally, Royal Bank Of Canada raised their price objective on shares of Advanced Micro Devices from $325.00 to $400.00 and gave the stock a "sector perform" rating in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $410.00.

Advanced Micro Devices Price Performance

AMD stock opened at $516.03 on Monday. Advanced Micro Devices, Inc. has a one year low of $108.62 and a one year high of $527.20. The company's fifty day moving average price is $327.78 and its 200-day moving average price is $255.78. 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 capitalization of $841.43 billion, a PE ratio of 169.19, a price-to-earnings-growth ratio of 1.52 and a beta of 2.50.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 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 for the quarter, compared to the consensus estimate of $9.90 billion. During the same quarter in the previous year, the firm earned $0.96 earnings per share. The company's quarterly revenue was up 37.8% compared to the same quarter last year. On average, equities analysts anticipate that Advanced Micro Devices, Inc. will post 6.2 EPS for the current fiscal year.

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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