Rexford Capital Inc. Purchases New Shares in Advanced Micro Devices, Inc. $AMD

Key Points

• Rexford Capital opened a new position in Advanced Micro Devices, buying 1,019 shares in the first quarter worth about $207,000.
• AMD reported better-than-expected quarterly results, with EPS of $1.37 versus $1.29 expected and revenue of $10.25 billion, up 37.8% from a year earlier.
• Wall Street remains mostly bullish on the stock, with several firms raising price targets; the consensus rating is Moderate Buy and the average target price is $448.78.

Rexford Capital Inc. purchased a new position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,019 shares of the semiconductor manufacturer's stock, valued at approximately $207,000.

A number of other large investors 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 fourth quarter valued at about $25,000. Sarver Vrooman Wealth Advisors acquired a new position in shares of Advanced Micro Devices during the 4th quarter worth about $27,000. Cornerstone Financial Management LLC acquired a new position in shares of Advanced Micro Devices during the 4th quarter worth about $27,000. Basepoint Wealth LLC purchased a new position in Advanced Micro Devices in the 4th quarter valued at about $30,000. Finally, Aviso Financial Inc. lifted its stake in Advanced Micro Devices by 400.0% in the 3rd quarter. Aviso Financial Inc. now owns 200 shares of the semiconductor manufacturer's stock valued at $32,000 after buying an additional 160 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Advanced Micro Devices Price Performance

AMD stock opened at $580.91 on Wednesday. The business has a fifty day moving average of $456.48 and a two-hundred day moving average of $301.41. 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 market cap of $947.23 billion, a price-to-earnings ratio of 190.46, a price-to-earnings-growth ratio of 1.59 and a beta of 2.50. Advanced Micro Devices, Inc. has a 52-week low of $133.50 and a 52-week high of $584.73.

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

Analyst Ratings Changes

AMD has been the subject of several research reports. Rosenblatt Securities boosted their price objective on Advanced Micro Devices from $300.00 to $490.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Needham & Company LLC upgraded Advanced Micro Devices to a "buy" rating in a research report on Wednesday, May 6th. Roth Mkm reaffirmed a "buy" rating and issued a $500.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, May 6th. Benchmark boosted their price target on shares of Advanced Micro Devices from $325.00 to $485.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Finally, Cantor Fitzgerald increased their price objective on shares of Advanced Micro Devices from $500.00 to $700.00 and gave the company an "overweight" rating in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $448.78.

Key Stories Impacting Advanced Micro Devices

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

• Positive Sentiment: Wells Fargo raised its AMD price target to $615 from $505, citing stronger server CPU demand and better long-term visibility. Article Title
• Positive Sentiment: More Wall Street firms are turning bullish on AMD as AI infrastructure spending broadens beyond Nvidia and into chip suppliers. Article Title
• Positive Sentiment: AMD’s strong AI and data center growth narrative continues to attract momentum buyers and options traders. Article Title
• Neutral Sentiment: AMD has seen unusually heavy insider selling over the past six months, which may temper some investor enthusiasm. Article Title

Insiders Place Their Bets

In related news, CEO Lisa T. Su sold 125,000 shares of the firm's stock in a transaction dated Wednesday, June 10th. The stock was 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 directly 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. The sale 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 Mark D. Papermaster sold 6,000 shares of Advanced Micro Devices stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $536.33, for a total value of $3,217,980.00. Following the completion of the transaction, the executive vice president directly owned 1,233,687 shares of the company's stock, valued at approximately $661,663,348.71. This represents a 0.48% decrease in their ownership of the stock. 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. In the last three months, insiders sold 378,032 shares of company stock valued at $161,876,596. Insiders own 0.50% of the company's stock.

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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