First Trust Advisors LP Sells 174,539 Shares of Advanced Micro Devices, Inc. $AMD

Key Points

• First Trust Advisors LP cut its AMD stake by 12.8% in the first quarter, selling 174,539 shares and leaving it with 1,186,116 shares valued at about $241.3 million.
• AMD is drawing attention from investors and analysts amid major AI-related developments, including a potential multi-year deal with Anthropic and AMD’s own planned investment in the startup. Analysts said the move could boost long-term revenue and strengthen AMD’s position in AI infrastructure.
• On the business side, AMD recently beat Wall Street’s earnings and revenue expectations, reporting $1.37 EPS on $10.25 billion in revenue, while analysts remain broadly positive with a Moderate Buy consensus and an average price target of $468.65.

First Trust Advisors LP decreased its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 12.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,186,116 shares of the semiconductor manufacturer's stock after selling 174,539 shares during the period. First Trust Advisors LP owned 0.07% of Advanced Micro Devices worth $241,291,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in AMD. Joseph Group Capital Management acquired a new position in shares of Advanced Micro Devices in the 4th quarter worth approximately $25,000. Sarver Vrooman Wealth Advisors bought a new stake in shares of Advanced Micro Devices in the 4th quarter valued at $27,000. Cornerstone Financial Management LLC acquired a new stake in shares of Advanced Micro Devices during the fourth quarter worth $27,000. Basepoint Wealth LLC acquired a new stake in shares of Advanced Micro Devices during the fourth quarter worth $30,000. Finally, Main Street Group LTD bought a new position in Advanced Micro Devices during the first quarter worth $33,000. 71.34% of the stock is currently owned by institutional investors.

More Advanced Micro Devices News

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

• Positive Sentiment: Anthropic’s multi-year plan to deploy up to 2GW of AMD Instinct MI450 GPUs could become a major new revenue stream for AMD. AMD and Anthropic Sign Major Chips-and-Investment Deal
• Positive Sentiment: AMD’s planned investment in Anthropic signals a deeper strategic alliance and could help the company win more AI infrastructure customers. AMD to invest up to $5 billion in Anthropic, WSJ Reports
• Positive Sentiment: Analysts are becoming more confident that the Anthropic deal can improve AMD’s long-term revenue outlook and help narrow the gap with Nvidia. AMD Stock Rises as Wells Fargo Gains ‘Further Confidence’ in Revenue after Anthropic Deal
• Neutral Sentiment: AMD also remains in focus ahead of its Aug. 4 earnings report and upcoming AI event, keeping expectations elevated for more customer wins and product updates.

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, CEO Lisa T. Su sold 125,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $460.69, for a total value of $57,586,250.00. Following the completion of the sale, the chief executive officer owned 2,896,899 shares of the company's stock, valued at approximately $1,334,572,400.31. This trade represents a 4.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible 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 that occurred on Friday, May 8th. The shares were sold at an average price of $444.39, for a total value of $10,832,450.64. Following the sale, the executive vice president owned 105,222 shares of the company's stock, valued at approximately $46,759,604.58. This represents a 18.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 341,630 shares of company stock worth $152,147,456 in the last quarter. Company insiders own 0.50% of the company's stock.

Advanced Micro Devices Trading Up 1.5%

AMD opened at $552.33 on Thursday. The company has a fifty day moving average price of $508.85 and a two-hundred day moving average price of $337.19. Advanced Micro Devices, Inc. has a 1-year low of $149.22 and a 1-year high of $584.73. The company has a market cap of $900.63 billion, a P/E ratio of 181.09, a price-to-earnings-growth ratio of 1.58 and a beta of 2.47. 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 (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, topping analysts' consensus estimates of $1.29 by $0.08. The company had revenue of $10.25 billion for the quarter, compared to analysts' expectations of $9.90 billion. Advanced Micro Devices had a net margin of 13.37% and a return on equity of 9.55%. The business's revenue was up 37.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.96 EPS. Analysts predict that Advanced Micro Devices, Inc. will post 6.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AMD has been the topic of several recent analyst reports. Cantor Fitzgerald boosted their target price on shares of Advanced Micro Devices from $500.00 to $700.00 and gave the company an "overweight" rating in a report on Monday, June 29th. Truist Financial set a $478.00 price target on Advanced Micro Devices in a report on Wednesday, May 6th. Weiss Ratings raised Advanced Micro Devices from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, May 6th. Wolfe Research set a $450.00 target price on Advanced Micro Devices and gave the company an "outperform" rating in a research report on Monday, June 15th. Finally, Benchmark reaffirmed a "buy" rating on shares of Advanced Micro Devices in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Advanced Micro Devices has a consensus rating of "Moderate Buy" and an average target price of $468.65.

Advanced Micro Devices Company 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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