Formidable Asset Management LLC Sells 17,596 Shares of Advanced Micro Devices, Inc. $AMD

Key Points

• Formidable Asset Management cut its AMD stake by 66.6% in the first quarter, selling 17,596 shares and ending with 8,844 shares valued at about $1.89 million.
• Insider selling has been heavy, with AMD executives Forrest Eugene Norrod and Paul Darren Grasby among those selling shares; insiders have sold 378,032 shares worth roughly $161.9 million over the last 90 days.
• Despite some recent pressure in AI chip stocks, analysts remain broadly bullish on AMD, with several firms raising price targets and the consensus rating staying at Moderate Buy; AMD also recently beat earnings and revenue estimates.

Formidable Asset Management LLC lowered its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 66.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,844 shares of the semiconductor manufacturer's stock after selling 17,596 shares during the period. Formidable Asset Management LLC's holdings in Advanced Micro Devices were worth $1,894,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Jefferies Financial Group Inc. raised its stake in Advanced Micro Devices by 6,228.8% in the fourth quarter. Jefferies Financial Group Inc. now owns 308,021 shares of the semiconductor manufacturer's stock worth $65,966,000 after buying an additional 303,154 shares in the last quarter. Williamson Legacy Group LLC purchased a new stake in Advanced Micro Devices in the fourth quarter worth about $1,118,000. Thoroughbred Financial Services LLC boosted its position in Advanced Micro Devices by 8.8% during the 4th quarter. Thoroughbred Financial Services LLC now owns 32,827 shares of the semiconductor manufacturer's stock valued at $7,030,000 after acquiring an additional 2,654 shares in the last quarter. Valtinson Bruner Financial Planning LLC bought a new stake in Advanced Micro Devices during the 4th quarter valued at approximately $1,523,000. Finally, Weaver Consulting Group purchased a new position in shares of Advanced Micro Devices during the 4th quarter worth approximately $246,000. Institutional investors own 71.34% of the company's stock.

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 19,487 shares of the business's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $431.40, for a total value of $8,406,691.80. Following the sale, the executive vice president directly owned 324,527 shares of the company's stock, valued at approximately $140,000,947.80. The trade was a 5.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $10,832,450.64. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 378,032 shares of company stock valued at $161,876,596 in the last ninety days. Corporate insiders own 0.50% of the company's stock.

Key Advanced Micro Devices News

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

• Positive Sentiment: Wall Street sentiment remains upbeat, with multiple analysts raising AMD price targets in June, including a street-high call from UBS, as firms increasingly view AMD as a bigger player in AI infrastructure and data center CPUs.
• Positive Sentiment: AMD continues to gain credibility in enterprise AI, including recognition from Gartner as a leading server CPU company, which supports the long-term growth case for its data center business. Article Title
• Positive Sentiment: New business wins are also helping sentiment, including a definitive agreement with Rackspace Technology to deploy AMD-based infrastructure, reinforcing demand for AMD chips in cloud and enterprise workloads. Article Title
• Positive Sentiment: Several recent articles argue AMD still has meaningful upside as investors focus on its CPU and AI data center growth, with some bullish commentary suggesting the market may still be underappreciating its long-term earnings power.
• Neutral Sentiment: One recent piece highlighted both the positives and a caution on AMD, noting the stock’s huge six-month run and suggesting investors should stay aware of valuation risk after such a strong rally.
• Negative Sentiment: The semiconductor group has also been under pressure today, with AI chip names, including AMD, softening as momentum in the sector cools and investors rotate out of the space. Article Title
• Negative Sentiment: Bearish/neutral valuation commentary has also picked up, with some coverage questioning whether AMD’s rapid stock gains have already priced in a lot of future growth, which can weigh on the shares in the short term.

Analyst Ratings Changes

Several brokerages have recently issued reports on AMD. Roth Mkm reissued a "buy" rating and issued a $500.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, May 6th. JPMorgan Chase & Co. lifted their price target on Advanced Micro Devices from $270.00 to $385.00 and gave the company a "neutral" rating in a research report on Wednesday, May 6th. TD Cowen upped their price target on Advanced Micro Devices from $500.00 to $600.00 and gave the stock a "buy" rating in a research note on Monday, June 1st. DA Davidson increased their price objective on Advanced Micro Devices from $375.00 to $425.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. Finally, Morgan Stanley raised their price objective on Advanced Micro Devices from $360.00 to $410.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $440.41.

Advanced Micro Devices Price Performance

AMD stock opened at $521.58 on Monday. The firm has a 50 day moving average price of $445.21 and a 200-day moving average price of $296.64. Advanced Micro Devices, Inc. has a 52-week low of $133.50 and a 52-week high of $562.99. The firm has a market capitalization of $850.49 billion, a price-to-earnings ratio of 171.01, a PEG ratio of 1.54 and a beta of 2.50. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.96 and a current ratio of 2.72.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.08. Advanced Micro Devices had a return on equity of 9.55% and a net margin of 13.37%.The company had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $9.90 billion. During the same quarter in the prior year, the business posted $0.96 EPS. The firm's quarterly revenue was up 37.8% compared to the same quarter last year. Equities research analysts forecast that Advanced Micro Devices, Inc. will post 6.15 EPS for the current fiscal year.

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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