Washington Trust Advisors Inc. Sells 1,167 Shares of Advanced Micro Devices, Inc. $AMD

Key Points

• Washington Trust Advisors cut its AMD stake by 67.5% in the fourth quarter, selling 1,167 shares and ending with 562 shares valued at about $120,000.
• 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% year over year.
• Analysts turned more bullish after earnings, with several firms raising price targets significantly; the current average target is $388.84, though some insiders and investors have also been trimming shares after the stock’s strong run.

Washington Trust Advisors Inc. decreased its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 67.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 562 shares of the semiconductor manufacturer's stock after selling 1,167 shares during the quarter. Washington Trust Advisors Inc.'s holdings in Advanced Micro Devices were worth $120,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. 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 in the last quarter. State Street Corp grew its holdings 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 period. Amundi increased its position in Advanced Micro Devices by 17.5% in the third quarter. Amundi now owns 13,486,227 shares of the semiconductor manufacturer's stock worth $2,181,937,000 after buying an additional 2,012,865 shares in the last quarter. Invesco Ltd. increased its position in Advanced Micro Devices by 6.5% in the third quarter. Invesco Ltd. now owns 13,348,413 shares of the semiconductor manufacturer's stock worth $2,159,640,000 after buying an additional 813,844 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Advanced Micro Devices by 1.7% in the third quarter. Legal & General Group Plc now owns 11,579,113 shares of the semiconductor manufacturer's stock worth $1,873,385,000 after buying an additional 191,590 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’s latest earnings and guidance continue to fuel the rally, with the company beating expectations and highlighting strong data-center/AI demand. AMD, Micron shares surge on a big day for chip-sector outperformance
• Positive Sentiment: Analysts are getting more bullish after earnings, including new or raised price targets and higher EPS estimates that suggest further upside if AI server CPU demand stays strong. As CPUs Steal the Show, AMD Stock Just Got a New Street-High Price Target
• Positive Sentiment: Wall Street commentary suggests the AI opportunity is broadening from GPUs to CPUs, which helps position AMD as a key beneficiary of the next phase of AI infrastructure spending. Wall Street sees 'changing of the guard in AI' as Intel, AMD shares soar while Nvidia lags
• Neutral Sentiment: Coverage also notes that AMD shares are drawing attention from traders and momentum investors after the stock’s sharp run, which could keep volatility elevated. What Is AMD Stock’s Minimum & Maximum Potential After Earnings?
• Negative Sentiment: Some investors are locking in gains after the huge rally, including Cathie Wood/ARK trimming AMD holdings, which may cap near-term upside. Cathie Wood Dumps More AMD Shares Despite Its Massive 108% Rally. Here's Why.

Insider Activity at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 19,450 shares of Advanced Micro Devices stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $216.81, for a total value of $4,216,954.50. Following the sale, the executive vice president directly owned 289,098 shares in the company, valued at approximately $62,679,337.38. The trade was a 6.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Lisa T. Su sold 125,000 shares of the business's stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $214.36, for a total transaction of $26,795,000.00. Following the completion of the sale, the chief executive officer owned 3,152,476 shares in the company, valued at approximately $675,764,755.36. The trade was a 3.81% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 304,672 shares of company stock valued at $70,135,070. Insiders own 0.50% of the company's stock.

Analysts Set New Price Targets

AMD has been the topic of a number of analyst reports. Stifel Nicolaus lifted their price objective on Advanced Micro Devices from $320.00 to $450.00 and gave the company a "buy" rating in a research report on Wednesday. Rosenblatt Securities raised their target price on shares of Advanced Micro Devices from $300.00 to $490.00 and gave the stock a "buy" rating in a research note on Wednesday. Barclays lifted their price target on shares of Advanced Micro Devices from $300.00 to $500.00 and gave the company an "overweight" rating in a report on Wednesday. Wolfe Research initiated coverage on shares of Advanced Micro Devices in a research report on Wednesday. They issued a "peer perform" rating for the company. Finally, Jefferies Financial Group cut shares of Advanced Micro Devices from a "buy" rating to a "hold" rating in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $388.84.

Advanced Micro Devices Stock Up 11.4%

NASDAQ AMD opened at $455.19 on Friday. Advanced Micro Devices, Inc. has a 12 month low of $101.60 and a 12 month high of $456.29. The company has a current ratio of 2.72, a quick ratio of 2.01 and a debt-to-equity ratio of 0.04. The stock has a market cap of $742.23 billion, a PE ratio of 149.24, a P/E/G ratio of 1.41 and a beta of 2.40. The stock's 50 day moving average is $243.98 and its 200 day moving average is $231.76.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings data 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 net margin of 13.37% and a return on equity of 9.55%. The business had revenue of $10.25 billion during the quarter, compared to analyst estimates of $9.90 billion. During the same period last year, the firm posted $0.96 EPS. The company's revenue was up 37.8% on a year-over-year basis. Research analysts predict that Advanced Micro Devices, Inc. will post 5.99 EPS 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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