First United Bank & Trust Sells 3,585 Shares of Advanced Micro Devices, Inc. $AMD

Key Points

• First United Bank & Trust significantly reduced its holdings in Advanced Micro Devices, Inc. by selling 3,585 shares in Q2 2023, resulting in a total of 3,161 shares worth approximately $449,000.
• Advanced Micro Devices' stock rose 1.2% to $161.36, with the firm's quarterly revenues exceeding expectations at $7.69 billion, even though it reported earnings per share of $0.48, missing the consensus estimate.
• Several brokerages have recently raised their price targets for AMD, with TD Cowen leading the way by increasing its target from $165.00 to $195.00, indicating a strong outlook for the semiconductor manufacturer.

First United Bank & Trust lowered its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 53.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,161 shares of the semiconductor manufacturer's stock after selling 3,585 shares during the quarter. First United Bank & Trust's holdings in Advanced Micro Devices were worth $449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Tritonpoint Wealth LLC boosted its holdings in Advanced Micro Devices by 2.6% in the second quarter. Tritonpoint Wealth LLC now owns 2,857 shares of the semiconductor manufacturer's stock worth $405,000 after purchasing an additional 72 shares during the last quarter. Scott & Selber Inc. boosted its stake in shares of Advanced Micro Devices by 0.7% in the 2nd quarter. Scott & Selber Inc. now owns 10,465 shares of the semiconductor manufacturer's stock worth $1,485,000 after buying an additional 73 shares during the last quarter. Sandy Cove Advisors LLC grew its holdings in shares of Advanced Micro Devices by 1.4% in the second quarter. Sandy Cove Advisors LLC now owns 5,470 shares of the semiconductor manufacturer's stock worth $776,000 after acquiring an additional 75 shares during the period. Pine Haven Investment Counsel Inc increased its position in Advanced Micro Devices by 3.3% during the second quarter. Pine Haven Investment Counsel Inc now owns 2,682 shares of the semiconductor manufacturer's stock valued at $381,000 after acquiring an additional 85 shares during the last quarter. Finally, Seaview Investment Managers LLC lifted its holdings in Advanced Micro Devices by 4.3% in the first quarter. Seaview Investment Managers LLC now owns 2,256 shares of the semiconductor manufacturer's stock valued at $232,000 after acquiring an additional 93 shares during the period. 71.34% of the stock is owned by hedge funds and other institutional investors.

Advanced Micro Devices Stock Up 1.2%

Shares of NASDAQ:AMD opened at $161.36 on Tuesday. The business's 50 day moving average is $165.57 and its 200 day moving average is $132.13. The stock has a market cap of $261.86 billion, a P/E ratio of 92.74, a price-to-earnings-growth ratio of 1.88 and a beta of 1.92. Advanced Micro Devices, Inc. has a 52-week low of $76.48 and a 52-week high of $186.65. The company has a quick ratio of 1.81, a current ratio of 2.49 and a debt-to-equity ratio of 0.05.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its earnings results on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.06). The firm had revenue of $7.69 billion during the quarter, compared to analysts' expectations of $7.41 billion. Advanced Micro Devices had a return on equity of 7.54% and a net margin of 9.57%.Advanced Micro Devices's quarterly revenue was up 31.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.69 earnings per share. Advanced Micro Devices has set its Q3 2025 guidance at EPS. Sell-side analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Insider Activity

In related news, EVP Forrest Eugene Norrod sold 2,250 shares of Advanced Micro Devices stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $165.01, for a total value of $371,272.50. Following the completion of the sale, the executive vice president directly owned 311,598 shares in the company, valued at $51,416,785.98. This trade represents a 0.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Paul Darren Grasby sold 10,000 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $173.21, for a total value of $1,732,100.00. Following the sale, the executive vice president owned 125,505 shares in the company, valued at approximately $21,738,721.05. The trade was a 7.38% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 272,448 shares of company stock valued at $44,554,848. Corporate insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on AMD. TD Cowen raised their target price on Advanced Micro Devices from $165.00 to $195.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Barclays lifted their price objective on shares of Advanced Micro Devices from $130.00 to $200.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Roth Capital set a $150.00 target price on shares of Advanced Micro Devices and gave the company a "buy" rating in a research note on Friday, June 13th. Sanford C. Bernstein raised their target price on shares of Advanced Micro Devices from $95.00 to $140.00 and gave the stock a "market perform" rating in a report on Monday, July 21st. Finally, Melius raised shares of Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $175.00 price target for the company in a research note on Monday, June 23rd. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $180.88.

About Advanced Micro Devices

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates through Data Center, Client, Gaming, and Embedded segments. The company offers x86 microprocessors and graphics processing units (GPUs) as an accelerated processing unit, chipsets, data center, and professional GPUs; and embedded processors, and semi-custom system-on-chip (SoC) products, microprocessor and SoC development services and technology, data processing unites, field programmable gate arrays (FPGA), and adaptive SoC products.

Want to see what other hedge funds are holding AMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.