Notis McConarty Edward Cuts Position in Advanced Micro Devices, Inc. $AMD

Key Points

• Notis McConarty Edward cut its AMD stake by 9.2% in the fourth quarter, selling 2,170 shares and leaving it with 21,462 shares valued at about $4.6 million.
• AMD continues to benefit from bullish AI-related developments, including a definitive agreement with Rackspace Technology for a phased deployment of 30 MW of AMD-based AI compute and its acquisition of MEXT to address AI memory bottlenecks.
• The stock has been highly volatile and richly valued, with shares recently trading around $507.29 after a 7.3% drop, while insiders have also been selling shares despite strong recent earnings and upbeat analyst targets.

Notis McConarty Edward decreased its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 9.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,462 shares of the semiconductor manufacturer's stock after selling 2,170 shares during the period. Advanced Micro Devices makes up 2.1% of Notis McConarty Edward's investment portfolio, making the stock its 17th largest holding. Notis McConarty Edward's holdings in Advanced Micro Devices were worth $4,596,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Joseph Group Capital Management acquired a new stake in shares of Advanced Micro Devices in the 4th quarter worth approximately $25,000. Sarver Vrooman Wealth Advisors acquired a new position in Advanced Micro Devices during the fourth quarter worth $27,000. Cornerstone Financial Management LLC purchased a new stake in Advanced Micro Devices during the fourth quarter worth $27,000. Basepoint Wealth LLC acquired a new stake in Advanced Micro Devices in the fourth quarter valued at $30,000. Finally, Aviso Financial Inc. grew its holdings in Advanced Micro Devices by 400.0% in the third quarter. Aviso Financial Inc. now owns 200 shares of the semiconductor manufacturer's stock valued at $32,000 after purchasing an additional 160 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company's stock.

Key Stories Impacting Advanced Micro Devices

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

• Positive Sentiment: AMD announced a definitive agreement with Rackspace Technology to deploy an initial 30 MW of AMD-based AI compute across Rackspace’s global data centers, reinforcing AMD’s push deeper into enterprise AI infrastructure and potentially expanding future chip demand. Article: AMD and Rackspace Technology Sign Definitive Agreement for Phased Deployment of 30 MW of AMD AI Compute
• Positive Sentiment: AMD’s acquisition of MEXT was highlighted as a strategic move to address AI memory bottlenecks, a key constraint in data-center workloads, which could improve the competitiveness of AMD’s AI chips and support longer-term growth. Article: AMD stock rallies after MEXT acquisition; targets AI memory bottleneck
• Positive Sentiment: Analysts remained constructive on AMD’s AI roadmap, with Citi and BofA raising targets and Wolfe Research saying there is room for upside to consensus estimates, which can help support investor confidence in the stock. Article: Wolfe Research sees substantial upside to AMD estimates
• Neutral Sentiment: AMD remained one of the most closely watched AI-chip names, with articles noting strong year-to-date gains and continued interest from investors, indicating momentum remains high but also that expectations are elevated. Article: AMD Stock Price Forecast — What Analysts Expect from the Chipmaker Now
• Negative Sentiment: Despite the bullish news flow, AMD slipped as traders locked in gains after a strong surge, and Cathie Wood’s Ark Invest also trimmed its position, adding to near-term selling pressure. Article: ARK Invest Offloads Over $167M in Roku (ROKU) and AMD (AMD) Stock in Major Monday Selloff
• Negative Sentiment: Some commentary warned AMD may be near a valuation “cliff” after its sharp rally, suggesting investors are increasingly cautious about how much upside is already priced in. Article: AMD Is Standing Precariously Close To The Cliff

Advanced Micro Devices Trading Down 7.3%

Shares of AMD stock opened at $507.29 on Wednesday. The company has a market capitalization of $827.19 billion, a price-to-earnings ratio of 166.33, a PEG ratio of 1.60 and a beta of 2.50. The company has a current ratio of 2.72, a quick ratio of 1.96 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average price of $398.80 and a 200 day moving average price of $279.06. Advanced Micro Devices, Inc. has a twelve month low of $125.77 and a twelve month high of $558.37.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm's revenue for the quarter was up 37.8% compared to the same quarter last year. During the same period last year, the company earned $0.96 EPS. Research analysts forecast that Advanced Micro Devices, Inc. will post 6.2 earnings per share for the current fiscal year.

Insider Activity

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 31,320 shares of the stock in a transaction on Friday, April 24th. The stock was sold at an average price of $350.00, for a total transaction of $10,962,000.00. Following the transaction, the executive vice president owned 1,236,037 shares of the company's stock, valued at $432,612,950. This represents a 2.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lisa T. Su sold 125,000 shares of the firm's stock in a transaction 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 sale, the chief executive officer owned 2,896,899 shares in the company, valued at $1,334,572,400.31. This trade represents a 4.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 372,032 shares of company stock valued at $158,658,616 in the last 90 days. Insiders own 0.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AMD. KeyCorp lifted their price target on Advanced Micro Devices from $330.00 to $530.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. Rosenblatt Securities increased their price objective on shares of Advanced Micro Devices from $300.00 to $490.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Barclays downgraded shares of Advanced Micro Devices from an "overweight" rating to an "underweight" rating in a report on Friday. JPMorgan Chase & Co. upped their price target on shares of Advanced Micro Devices from $270.00 to $385.00 and gave the company a "neutral" rating in a report on Wednesday, May 6th. Finally, Citigroup lowered shares of Advanced Micro Devices from a "buy" rating to a "market perform" rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Advanced Micro Devices presently has an average rating of "Moderate Buy" and a consensus price target of $428.65.

Advanced Micro Devices 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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