STF Management LP Sells 14,701 Shares of Advanced Micro Devices, Inc. $AMD

Key Points

• STF Management LP reduced its AMD stake by 60.4% in the fourth quarter, selling 14,701 shares and leaving it with 9,656 shares valued at about $2.07 million.
• AMD insiders have also been selling: EVP Paul Darren Grasby sold shares worth about $10.8 million, and CEO Lisa T. Su sold 125,000 shares for about $55.7 million under a pre-arranged trading plan.
• AMD’s latest results were strong, with Q1 earnings and revenue both beating estimates and revenue rising 37.8% year over year, while analysts broadly turned more positive and raised price targets.

STF Management LP cut its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 60.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,656 shares of the semiconductor manufacturer's stock after selling 14,701 shares during the period. Advanced Micro Devices makes up about 1.9% of STF Management LP's portfolio, making the stock its 12th biggest holding. STF Management LP's holdings in Advanced Micro Devices were worth $2,068,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMD. Vanguard Group Inc. lifted its position in Advanced Micro Devices by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 158,522,860 shares of the semiconductor manufacturer's stock valued at $33,949,256,000 after purchasing an additional 2,525,109 shares during the last quarter. State Street Corp lifted its position in Advanced Micro Devices by 2.4% during the third quarter. State Street Corp now owns 73,824,441 shares of the semiconductor manufacturer's stock valued at $11,944,056,000 after purchasing an additional 1,755,182 shares during the last quarter. Amundi lifted its position in Advanced Micro Devices by 17.5% during the third quarter. Amundi now owns 13,486,227 shares of the semiconductor manufacturer's stock valued at $2,181,937,000 after purchasing an additional 2,012,865 shares during the last quarter. Invesco Ltd. lifted its position in Advanced Micro Devices by 6.5% during the third quarter. Invesco Ltd. now owns 13,348,413 shares of the semiconductor manufacturer's stock valued at $2,159,640,000 after purchasing an additional 813,844 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in Advanced Micro Devices by 1.7% during the third quarter. Legal & General Group Plc now owns 11,579,113 shares of the semiconductor manufacturer's stock valued at $1,873,385,000 after purchasing an additional 191,590 shares during the last quarter. 71.34% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Paul Darren Grasby sold 24,376 shares of the firm'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 completion of the sale, the executive vice president directly 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lisa T. Su sold 125,000 shares of Advanced Micro Devices stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $445.51, for a total transaction of $55,688,750.00. Following the sale, the chief executive officer owned 3,021,899 shares of the company's stock, valued at $1,346,286,223.49. The trade was a 3.97% 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. In the last three months, insiders sold 309,598 shares of company stock valued at $105,644,316. Insiders own 0.50% of the company's stock.

Key Advanced Micro Devices News

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.

Analyst Upgrades and Downgrades

Several equities analysts have commented on AMD shares. Sanford C. Bernstein upgraded shares of Advanced Micro Devices from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $265.00 to $525.00 in a research report on Wednesday, May 6th. Raymond James Financial began coverage on Advanced Micro Devices in a research note on Wednesday, May 6th. They issued a "market perform" rating for the company. Royal Bank Of Canada raised their price objective on Advanced Micro Devices from $325.00 to $400.00 and gave the company a "sector perform" rating in a research note on Wednesday, May 6th. Wells Fargo & Company raised their price objective on Advanced Micro Devices from $345.00 to $505.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Finally, Morgan Stanley raised their price objective on Advanced Micro Devices from $360.00 to $410.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 6th. Two 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 company. According to MarketBeat, Advanced Micro Devices presently has a consensus rating of "Moderate Buy" and a consensus target price of $396.95.

Advanced Micro Devices Price Performance

Advanced Micro Devices stock opened at $424.10 on Friday. The firm has a 50-day moving average price of $273.49 and a 200-day moving average price of $240.52. The firm has a market capitalization of $691.54 billion, a PE ratio of 139.05, a price-to-earnings-growth ratio of 1.26 and a beta of 2.40. The company has a current ratio of 2.72, a quick ratio of 1.96 and a debt-to-equity ratio of 0.04. Advanced Micro Devices, Inc. has a 12-month low of $107.67 and a 12-month high of $469.21.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $10.25 billion during the quarter, compared to analyst estimates of $9.90 billion. During the same period last year, the company earned $0.96 EPS. Advanced Micro Devices's quarterly revenue was up 37.8% compared to the same quarter last year. As a group, equities research analysts forecast that Advanced Micro Devices, Inc. will post 6.2 EPS for the current year.

Advanced Micro Devices Company 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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