Novare Capital Management LLC Sells 2,469 Shares of Advanced Micro Devices, Inc. $AMD

Key Points

• Novare Capital Management cut its AMD stake by 20.7% in the fourth quarter, selling 2,469 shares and ending with 9,479 shares worth about $2.03 million.
• AMD’s latest quarterly results beat expectations, with EPS of $1.37 and revenue of $10.25 billion, both above analyst estimates; revenue jumped 37.8% year over year.
• Wall Street remains constructive on AMD after the earnings report, with several firms raising price targets and the stock carrying an average “Moderate Buy” rating and target price of $396.95.

Novare Capital Management LLC lessened its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 20.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,479 shares of the semiconductor manufacturer's stock after selling 2,469 shares during the period. Novare Capital Management LLC's holdings in Advanced Micro Devices were worth $2,030,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of AMD. Brighton Jones LLC raised its stake in shares of Advanced Micro Devices by 178.2% during the fourth quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer's stock valued at $5,551,000 after acquiring an additional 29,438 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Advanced Micro Devices by 2.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer's stock valued at $1,001,000 after acquiring an additional 234 shares in the last quarter. Sivia Capital Partners LLC raised its stake in shares of Advanced Micro Devices by 125.1% during the second quarter. Sivia Capital Partners LLC now owns 5,344 shares of the semiconductor manufacturer's stock valued at $758,000 after acquiring an additional 2,970 shares in the last quarter. United Bank raised its stake in shares of Advanced Micro Devices by 22.0% during the second quarter. United Bank now owns 13,255 shares of the semiconductor manufacturer's stock valued at $1,881,000 after acquiring an additional 2,392 shares in the last quarter. Finally, Schnieders Capital Management LLC. raised its stake in shares of Advanced Micro Devices by 361.0% during the second quarter. Schnieders Capital Management LLC. now owns 9,230 shares of the semiconductor manufacturer's stock valued at $1,310,000 after acquiring an additional 7,228 shares in the last quarter. Institutional investors own 71.34% of the company's stock.

Advanced Micro Devices Trading Down 5.7%

NASDAQ:AMD opened at $424.10 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.96 and a current ratio of 2.72. The firm has a market cap of $691.54 billion, a P/E ratio of 139.05, a P/E/G ratio of 1.34 and a beta of 2.40. The firm has a 50-day simple moving average of $273.49 and a 200-day simple moving average of $240.52. Advanced Micro Devices, Inc. has a one year low of $107.67 and a one year high of $469.21.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 EPS for the quarter, topping the consensus estimate of $1.29 by $0.08. The firm had revenue of $10.25 billion during the quarter, compared to analyst estimates of $9.90 billion. Advanced Micro Devices had a net margin of 13.37% and a return on equity of 9.55%. Advanced Micro Devices's revenue was up 37.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.96 EPS. Equities analysts anticipate that Advanced Micro Devices, Inc. will post 6.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AMD. Piper Sandler restated an "overweight" rating on shares of Advanced Micro Devices in a report on Wednesday, February 25th. KeyCorp boosted their price target on shares of Advanced Micro Devices from $330.00 to $530.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. BTIG Research upgraded shares of Advanced Micro Devices to a "buy" rating in a report on Wednesday, May 6th. The Goldman Sachs Group upgraded shares of Advanced Micro Devices from a "neutral" rating to a "buy" rating and boosted their price target for the company from $240.00 to $450.00 in a report on Wednesday, May 6th. Finally, Wolfe Research began coverage on shares of Advanced Micro Devices in a report on Wednesday, May 6th. They issued a "peer perform" rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and twelve have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $396.95.

Key Stories Impacting Advanced Micro Devices

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

• Positive Sentiment: Q1 earnings and revenue both topped expectations, with data center sales up sharply on strong demand for EPYC CPUs and Instinct GPUs.
• Positive Sentiment: Several analysts raised price targets after the earnings report, citing AMD’s accelerating AI and data center growth.
• Positive Sentiment: AMD expanded FSR 4.1 support to older GPUs and introduced new Ryzen PRO 9000 offerings, reinforcing product momentum in client and gaming.

Insider Buying and Selling

In related news, EVP Mark D. Papermaster sold 31,320 shares of the business's stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $350.00, for a total transaction of $10,962,000.00. Following the completion of the transaction, the executive vice president owned 1,236,037 shares in the company, valued at $432,612,950. The trade was a 2.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 business'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 owned 105,222 shares of the company's stock, valued at approximately $46,759,604.58. This trade represents a 18.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 309,598 shares of company stock worth $105,644,316 in the last 90 days. 0.50% of the stock is owned by corporate insiders.

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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