Spectrum Strategic Capital Management LLC Sells 9,926 Shares of Advanced Micro Devices, Inc. $AMD

Key Points

• Spectrum Strategic Capital Management cut its AMD stake by 60% in the fourth quarter, selling 9,926 shares and leaving it with 6,610 shares valued at about $1.42 million.
• AMD reported strong Q1 results, beating expectations on both earnings and revenue as data center sales surged on demand for EPYC CPUs and Instinct GPUs.
• Analysts turned more bullish after the earnings report, with multiple firms raising price targets; the consensus rating is now Moderate Buy with an average target of $396.95.

Spectrum Strategic Capital Management LLC lessened its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 60.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,610 shares of the semiconductor manufacturer's stock after selling 9,926 shares during the quarter. Spectrum Strategic Capital Management LLC's holdings in Advanced Micro Devices were worth $1,416,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. CDM Financial Counseling Services Inc. bought a new stake in shares of Advanced Micro Devices in the 4th quarter worth approximately $215,000. TD Private Client Wealth LLC raised its holdings in shares of Advanced Micro Devices by 46.3% in the 4th quarter. TD Private Client Wealth LLC now owns 9,969 shares of the semiconductor manufacturer's stock worth $2,135,000 after purchasing an additional 3,154 shares during the period. Tucker Asset Management LLC bought a new stake in shares of Advanced Micro Devices in the 4th quarter worth approximately $178,000. Gabelli Funds LLC raised its holdings in Advanced Micro Devices by 14.9% during the 4th quarter. Gabelli Funds LLC now owns 48,227 shares of the semiconductor manufacturer's stock valued at $10,328,000 after acquiring an additional 6,262 shares during the period. Finally, Requisite Capital Management LLC bought a new stake in Advanced Micro Devices during the 4th quarter valued at $248,000. Institutional investors own 71.34% of the company's stock.

Insider Activity

In other news, EVP Mark D. Papermaster sold 31,320 shares of the business's stock in a transaction 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 directly 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 document filed with the Securities & Exchange Commission, which is available at 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 on Friday, May 8th. The shares were 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 $46,759,604.58. This trade represents a 18.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 309,598 shares of company stock worth $105,644,316 in the last three months. Corporate insiders own 0.50% 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: 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.

Analysts Set New Price Targets

AMD has been the topic of a number of analyst reports. Sanford C. Bernstein raised shares of Advanced Micro Devices from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $265.00 to $525.00 in a report on Wednesday, May 6th. Zacks Research raised shares of Advanced Micro Devices from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 5th. Wells Fargo & Company boosted their target price on shares of Advanced Micro Devices from $345.00 to $505.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. Morgan Stanley boosted 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 report on Wednesday, May 6th. Finally, Weiss Ratings raised shares of Advanced Micro Devices from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $396.95.

Advanced Micro Devices Price Performance

AMD opened at $424.10 on Monday. The company has a fifty day moving average price of $273.49 and a 200-day moving average price of $240.39. The firm has a market capitalization of $691.54 billion, a P/E ratio of 139.05, a price-to-earnings-growth ratio of 1.26 and a beta of 2.40. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.72 and a quick ratio of 1.96. 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 released its quarterly earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 EPS for the quarter, beating analysts' consensus estimates 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%. The business's revenue for the quarter was up 37.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.96 EPS. Equities research analysts expect that Advanced Micro Devices, Inc. will post 6.2 earnings per share for the current fiscal year.

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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