Essex Financial Services Inc. Sells 1,428 Shares of Advanced Micro Devices, Inc. $AMD

Essex Financial Services Inc. decreased its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 16.5% during the fourth quarter, HoldingsChannel reports. The fund owned 7,217 shares of the semiconductor manufacturer’s stock after selling 1,428 shares during the quarter. Essex Financial Services Inc.’s holdings in Advanced Micro Devices were worth $1,546,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. James J. Burns & Company LLC boosted its stake in shares of Advanced Micro Devices by 2.3% during the fourth quarter. James J. Burns & Company LLC now owns 1,816 shares of the semiconductor manufacturer’s stock valued at $389,000 after purchasing an additional 40 shares during the period. Cassaday & Co Wealth Management LLC boosted its stake in shares of Advanced Micro Devices by 0.9% during the fourth quarter. Cassaday & Co Wealth Management LLC now owns 4,912 shares of the semiconductor manufacturer’s stock valued at $1,052,000 after purchasing an additional 43 shares during the period. Willis Johnson & Associates Inc. boosted its stake in shares of Advanced Micro Devices by 1.9% during the fourth quarter. Willis Johnson & Associates Inc. now owns 2,304 shares of the semiconductor manufacturer’s stock valued at $493,000 after purchasing an additional 44 shares during the period. Addison Advisors LLC boosted its stake in shares of Advanced Micro Devices by 12.7% during the third quarter. Addison Advisors LLC now owns 400 shares of the semiconductor manufacturer’s stock valued at $65,000 after purchasing an additional 45 shares during the period. Finally, Smith Moore & CO. boosted its stake in shares of Advanced Micro Devices by 1.1% during the third quarter. Smith Moore & CO. now owns 3,962 shares of the semiconductor manufacturer’s stock valued at $641,000 after purchasing an additional 45 shares during the period. 71.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 31,320 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president owned 1,236,037 shares in the company, valued at $432,612,950. This represents a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lisa T. Su sold 125,000 shares of the company’s 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 transaction, the chief executive officer owned 3,021,899 shares in the company, valued at approximately $1,346,286,223.49. This trade represents a 3.97% 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. In 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 insiders.

Advanced Micro Devices News Roundup

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

• Positive Sentiment: Multiple articles highlighted AMD’s expanding AI and data center opportunity, including bullish takes that the company could be a major winner in the next AI cycle and that Wall Street sees a much larger market opportunity ahead. AMD Could Be the Biggest Winner in the Next AI Battle
• Positive Sentiment: Analyst commentary remained constructive overall, with reports pointing to continued upside potential from AMD’s rapid data center expansion and AI infrastructure demand. Prediction: AMD’s Rapid Data Center Expansion Fuels Bullish Target
• Neutral Sentiment: AMD CEO Lisa Su’s China trip and MIT commencement speech kept the company in the news, but the coverage was mostly about leadership presence and AI messaging rather than a direct business catalyst. In China, AMD CEO Lisa Su is understated while Nvidia’s Huang is more razzmatazz
• Neutral Sentiment: Rocket One’s acceptance into AMD’s AI Developer Program added another ecosystem-related headline, but the near-term financial impact appears limited. Rocket One Accepted into AMD AI Developer Program
• Negative Sentiment: Several pieces urged caution after AMD’s sharp run-up, including a Seeking Alpha downgrade calling the top and an article noting that there may be less room for mistakes at current levels. AMD: Ring, Ring – The Top Is Calling (Downgrade)
• Negative Sentiment: ARK Invest’s Cathie Wood trimmed her AMD stake, adding to investor concerns that some funds may be taking profits after the stock’s strong rally. Ark Investment’s Cathie Wood Just Trimmed Her AMD Stake

Advanced Micro Devices Stock Performance

AMD opened at $516.03 on Monday. Advanced Micro Devices, Inc. has a 52-week low of $108.62 and a 52-week high of $527.20. 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 company has a market cap of $841.43 billion, a P/E ratio of 169.19, a price-to-earnings-growth ratio of 1.52 and a beta of 2.50. The firm’s 50-day moving average price is $327.78 and its 200-day moving average price is $255.78.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $9.90 billion. During the same quarter in the prior year, the company posted $0.96 earnings per share. The company’s revenue for the quarter was up 37.8% compared to the same quarter last year. As a group, equities analysts anticipate that Advanced Micro Devices, Inc. will post 6.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AMD shares. Wedbush boosted their target price on shares of Advanced Micro Devices from $290.00 to $400.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Northland Securities reiterated a “market perform” rating and set a $260.00 target price on shares of Advanced Micro Devices in a report on Monday, April 27th. Phillip Securities upgraded shares of Advanced Micro Devices from a “moderate buy” rating to a “strong-buy” rating in a report on Sunday, February 8th. Wolfe Research initiated coverage on shares of Advanced Micro Devices in a report on Wednesday, May 6th. They set a “peer perform” rating on the stock. Finally, KeyCorp increased their target price on shares of Advanced Micro Devices from $330.00 to $530.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, Advanced Micro Devices currently has an average rating of “Moderate Buy” and a consensus price target of $410.00.

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.