Parkside Investments LLC Sells 8,445 Shares of Advanced Micro Devices, Inc. $AMD

Key Points

• Parkside Investments LLC cut its AMD stake by 20.2% in the fourth quarter, selling 8,445 shares and leaving it with 33,461 shares worth about $7.17 million.
• AMD continues to attract major AI-related optimism, including reports that it may invest more than $10 billion in Taiwan’s AI market to expand chip production and strengthen partner ties.
• The company reported strong quarterly results, with EPS of $1.37 and revenue of $10.25 billion, both ahead of estimates and up 37.8% year over year; analysts currently rate the stock a Moderate Buy on average.

Parkside Investments LLC trimmed its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 20.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,461 shares of the semiconductor manufacturer's stock after selling 8,445 shares during the quarter. Parkside Investments LLC's holdings in Advanced Micro Devices were worth $7,166,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in AMD. Brighton Jones LLC raised its position 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 worth $5,551,000 after acquiring an additional 29,438 shares during the last quarter. Revolve Wealth Partners LLC raised its position 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 worth $1,001,000 after acquiring an additional 234 shares during the last quarter. Sivia Capital Partners LLC raised its position 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 worth $758,000 after acquiring an additional 2,970 shares during the last quarter. United Bank raised its position 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 worth $1,881,000 after acquiring an additional 2,392 shares during the last quarter. Finally, Schnieders Capital Management LLC. grew its stake in 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 worth $1,310,000 after purchasing an additional 7,228 shares during the period. 71.34% of the stock is currently owned by institutional investors.

More Advanced Micro Devices News

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

• Positive Sentiment: AMD reportedly plans to invest more than $10 billion in Taiwan’s AI market, a move aimed at expanding chip production capacity and deepening ties with packaging and testing partners. Advanced Micro Devices, Inc. (AMD) Plans to Invest more than $10B in Taiwan’s AI Market
• Positive Sentiment: Several analyst and market commentary pieces highlighted AMD as a key beneficiary of the AI chip boom, especially as demand shifts toward inference-focused workloads and investors look for “next Nvidia” opportunities. The 'Next Nvidia' Trade? Why Investors Are Suddenly Watching Advanced Micro Devices, Arm Holdings, and Marvell Technology
• Positive Sentiment: Recent bullish coverage says AMD’s AI roadmap, including ROCm adoption and rack-scale solutions, is strengthening its competitive position versus Nvidia and supporting the stock’s momentum. Advanced Micro Devices: 3 Things Favor This Nvidia Competitor, Reiterate Strong Buy
• Neutral Sentiment: AMD remained a heavily watched trading name, with articles noting it was among the most searched stocks and that investors are weighing its next moves after a strong run.
• Negative Sentiment: One report noted a stock sale by executive Forrest Eugene Norrod, which could slightly temper sentiment, though it appears smaller than the positive AI and expansion catalysts. Forrest Eugene Norrod Sells 19,487 Shares of Advanced Micro Devices NASDAQ: AMD Stock

Insider Buying and Selling

In related news, EVP Paul Darren Grasby sold 24,376 shares of the company's stock in a transaction 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 completion of the sale, the executive vice president 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Forrest Eugene Norrod sold 19,487 shares of the company'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 owned 324,527 shares of the company's stock, valued at $140,000,947.80. This trade represents a 5.66% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 329,085 shares of company stock worth $114,051,007. 0.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on Advanced Micro Devices from $270.00 to $385.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. Benchmark lifted their target price on Advanced Micro Devices from $325.00 to $485.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. Mizuho boosted their price objective on Advanced Micro Devices from $415.00 to $515.00 and gave the company an "outperform" rating in a report on Tuesday, May 12th. Evercore restated an "outperform" rating and set a $579.00 price objective on shares of Advanced Micro Devices in a report on Tuesday, May 19th. Finally, Wall Street Zen upgraded Advanced Micro Devices from a "hold" rating to a "buy" rating in a report on Monday, January 26th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, Advanced Micro Devices currently has a consensus rating of "Moderate Buy" and an average target price of $410.00.

Advanced Micro Devices Stock Performance

NASDAQ AMD opened at $467.51 on Tuesday. The company has a market cap of $762.32 billion, a price-to-earnings ratio of 153.28, a P/E/G ratio of 1.37 and a beta of 2.40. Advanced Micro Devices, Inc. has a 52 week low of $107.67 and a 52 week high of $481.41. The business has a 50 day moving average price of $302.82 and a 200-day moving average price of $248.30. 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 released its quarterly earnings data on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 EPS for the quarter, beating 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 firm had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $9.90 billion. During the same quarter in the previous year, the company posted $0.96 earnings per share. The company's quarterly revenue was up 37.8% on a year-over-year basis. As a group, equities analysts expect that Advanced Micro Devices, Inc. will post 6.2 earnings per share for the current fiscal year.

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.

Want to see what other hedge funds are holding AMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.