Kovitz Investment Group Partners LLC Sells 1,721,078 Shares of Advanced Micro Devices, Inc. $AMD

Key Points

• Kovitz Investment Group Partners LLC cut its AMD stake by 95.3% in the fourth quarter, selling 1,721,078 shares and leaving it with 84,815 shares valued at about $18.2 million.
• AMD has seen a wave of positive analyst and strategic news, including price-target hikes from Bernstein and Citi, plus new moves such as acquiring MEXT and signing a 30 MW AI compute agreement with Rackspace.
• The company also reported strong quarterly results, with EPS of $1.37 and revenue of $10.25 billion, both above expectations, while shares have surged to near their 52-week high.

Kovitz Investment Group Partners LLC trimmed its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 95.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 84,815 shares of the semiconductor manufacturer's stock after selling 1,721,078 shares during the period. Kovitz Investment Group Partners LLC's holdings in Advanced Micro Devices were worth $18,164,000 at the end of the most recent reporting period.

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

Insider Activity at Advanced Micro Devices

In related news, EVP Paul Darren Grasby sold 24,376 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Nora Denzel sold 8,626 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $522.00, for a total value of $4,502,772.00. Following the completion of the transaction, the director owned 87,173 shares in the company, valued at approximately $45,504,306. The trade was a 9.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 378,032 shares of company stock worth $161,876,596. 0.50% of the stock is currently owned by insiders.

Advanced Micro Devices News Roundup

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

• Positive Sentiment: Bernstein raised its price target on AMD to $600, citing strong AI infrastructure demand and improving server CPU trends. Why Is AMD Stock Gaining Thursday?
• Positive Sentiment: Citi upgraded AMD to Buy and lifted its target to $575, pointing to potential GPU sales to Meta and broader upside in the AI server CPU market. Citi Upgrades AMD Stock to ‘Buy’ on Massive Meta GPU Sales Potential
• Positive Sentiment: AMD announced it is acquiring MEXT, a memory optimization company, which could strengthen AMD’s AI data center offerings by helping address workload bottlenecks. AMD (AMD) Buys MEXT To Tackle AI Data Center Memory Bottlenecks
• Positive Sentiment: AMD signed a definitive agreement with Rackspace to deploy 30 MW of AMD-based AI compute across Rackspace’s global data centers, expanding its enterprise AI footprint. AMD and Rackspace Team Up on a 30 MW AI Compute Agreement
• Neutral Sentiment: Some commentary warned AMD may have run too far, too fast, and another article flagged margin pressure as the company shifts deeper into AI growth bets. One Warning Signal AMD Investors Can't Miss
• Neutral Sentiment: There was also an insider sale by EVP Mark Papermaster, but it was made under a pre-arranged trading plan, limiting the negative signal for investors. Mark Papermaster Sells 6,000 Shares of Advanced Micro Devices NASDAQ: AMD Stock

Advanced Micro Devices Stock Up 5.2%

Advanced Micro Devices stock opened at $539.33 on Friday. The company has a market capitalization of $879.43 billion, a PE ratio of 176.83, a PEG ratio of 1.50 and a beta of 2.50. Advanced Micro Devices, Inc. has a 12-month low of $126.82 and a 12-month high of $558.37. The firm's fifty day moving average is $411.01 and its 200 day moving average is $283.43. The company has a quick ratio of 1.96, a current ratio of 2.72 and a debt-to-equity ratio of 0.04.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 EPS for the quarter, topping 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 business had revenue of $10.25 billion during the quarter, compared to analysts' expectations of $9.90 billion. During the same period last year, the company posted $0.96 earnings per share. The business's quarterly revenue was up 37.8% on a year-over-year basis. As a group, sell-side analysts predict that Advanced Micro Devices, Inc. will post 6.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AMD. Morgan Stanley increased their target price on shares of 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. HSBC lowered shares of Advanced Micro Devices from a "buy" rating to a "hold" rating and upped their price objective for the company from $335.00 to $340.00 in a research note on Monday, May 4th. Citigroup downgraded shares of Advanced Micro Devices from a "buy" rating to a "market perform" rating in a research note on Friday, June 12th. BTIG Research raised shares of Advanced Micro Devices to a "buy" rating in a research report on Wednesday, May 6th. Finally, Wells Fargo & Company increased their price target on Advanced Micro Devices from $345.00 to $505.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $430.68.

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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