Harbour Wealth Management Group Inc. Has $571,000 Stock Position in Advanced Micro Devices, Inc. $AMD

Key Points

• Harbour Wealth Management Group cut its AMD stake by 36.9% in the first quarter, leaving it with 2,807 shares valued at about $571,000.
• AMD insiders were active sellers: CEO Lisa Su sold 125,000 shares and EVP Forrest Norrod sold 19,487 shares in pre-arranged transactions, while insiders sold 378,032 shares in the last quarter overall.
• The company posted solid quarterly results, reporting $1.37 EPS on $10.25 billion in revenue, both above analyst expectations, as analysts maintained a generally bullish view with an average target price of $430.68.

Harbour Wealth Management Group Inc. lowered its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 36.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,807 shares of the semiconductor manufacturer's stock after selling 1,641 shares during the quarter. Harbour Wealth Management Group Inc.'s holdings in Advanced Micro Devices were worth $571,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of AMD. Joseph Group Capital Management acquired a new stake in shares of Advanced Micro Devices during the 4th quarter valued at about $25,000. Sarver Vrooman Wealth Advisors bought a new stake in shares of Advanced Micro Devices in the 4th quarter valued at approximately $27,000. Cornerstone Financial Management LLC acquired a new position in Advanced Micro Devices in the fourth quarter worth approximately $27,000. Basepoint Wealth LLC acquired a new position in Advanced Micro Devices in the fourth quarter worth approximately $30,000. Finally, Aviso Financial Inc. raised its position in Advanced Micro Devices by 400.0% during the third quarter. Aviso Financial Inc. now owns 200 shares of the semiconductor manufacturer's stock valued at $32,000 after acquiring an additional 160 shares in the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, CEO Lisa T. Su sold 125,000 shares of the business's stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $460.69, for a total transaction of $57,586,250.00. Following the completion of the transaction, the chief executive officer owned 2,896,899 shares of the company's stock, valued at $1,334,572,400.31. The trade was a 4.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Forrest Eugene Norrod sold 19,487 shares of the company's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $431.40, for a total transaction of $8,406,691.80. Following the sale, the executive vice president owned 324,527 shares of the company's stock, valued at $140,000,947.80. This trade represents a 5.66% 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. Insiders sold 378,032 shares of company stock worth $161,876,596 in the last quarter. 0.50% of the stock is owned by corporate insiders.

Advanced Micro Devices Stock Up 2.7%

Shares of Advanced Micro Devices stock opened at $551.63 on Tuesday. Advanced Micro Devices, Inc. has a 12-month low of $126.82 and a 12-month high of $562.99. The company has a quick ratio of 1.96, a current ratio of 2.72 and a debt-to-equity ratio of 0.04. The stock has a 50 day moving average price of $423.46 and a two-hundred day moving average price of $288.05. The stock has a market capitalization of $899.49 billion, a P/E ratio of 180.86, a PEG ratio of 1.58 and a beta of 2.50.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $10.25 billion for the quarter, compared to analyst estimates of $9.90 billion. During the same quarter last year, the firm posted $0.96 earnings per share. The company's quarterly revenue was up 37.8% compared to the same quarter last year. Equities analysts expect that Advanced Micro Devices, Inc. will post 6.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

AMD has been the subject of a number of analyst reports. Wedbush lifted their target price on shares of Advanced Micro Devices from $290.00 to $400.00 and gave the company an "outperform" rating in a research note on Monday, May 4th. Seaport Research Partners upgraded shares of Advanced Micro Devices from a "neutral" rating to a "buy" rating and set a $430.00 price target on the stock in a research note on Wednesday, May 6th. Erste Group Bank upgraded shares of Advanced Micro Devices from a "hold" rating to a "buy" rating in a report on Thursday, April 2nd. Jefferies Financial Group lowered shares of Advanced Micro Devices from a "buy" rating to a "hold" rating in a research note on Wednesday, May 6th. Finally, KeyCorp upped their price objective on shares of Advanced Micro Devices from $330.00 to $530.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $430.68.

Key Stories Impacting Advanced Micro Devices

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

• Positive Sentiment: AMD gained after expanding FSR GPU driver support to older graphics cards, a move that could improve customer satisfaction and extend the life of its GPU ecosystem. Article Title
• Positive Sentiment: AMD was also supported by broader strength in chip stocks, as investors rotated into semiconductors on improving risk sentiment and continued AI spending optimism. Article Title
• Positive Sentiment: Commentary highlighted AMD as a strong AI-chip contender that could benefit from further growth in data center and networking demand, reinforcing the bullish long-term narrative. Article Title
• Neutral Sentiment: Several articles framed AMD as having already doubled this year and trading well above technical support levels, which may prompt some investors to question how much upside is left near current highs. Article Title
• Negative Sentiment: Investor caution also came from reports that David Tepper’s Appaloosa trimmed its AMD stake by about 32%, which can be read as a modest confidence signal against the stock’s recent surge. Article Title
• Negative Sentiment: Another bearish headline noted heavy insider selling, with more than $60 million in AMD shares reportedly sold in early June, which may raise concerns about valuation and near-term upside. Article Title

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.

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