Formidable Asset Management LLC Sells 17,596 Shares of Advanced Micro Devices, Inc. $AMD

Formidable Asset Management LLC lessened its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 66.6% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 8,844 shares of the semiconductor manufacturer’s stock after selling 17,596 shares during the period. Formidable Asset Management LLC’s holdings in Advanced Micro Devices were worth $1,894,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Joseph Group Capital Management purchased a new position in Advanced Micro Devices in the 4th quarter worth approximately $25,000. Sarver Vrooman Wealth Advisors purchased a new stake in Advanced Micro Devices during the 4th quarter valued at $27,000. Cornerstone Financial Management LLC purchased a new stake in Advanced Micro Devices during the 4th quarter valued at $27,000. Basepoint Wealth LLC bought a new stake in shares of Advanced Micro Devices in the 4th quarter worth $30,000. Finally, Aviso Financial Inc. increased its holdings in shares of Advanced Micro Devices by 400.0% in the 3rd quarter. Aviso Financial Inc. now owns 200 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 160 shares in the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices News Roundup

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

• Positive Sentiment: Wall Street sentiment remains upbeat, with multiple analysts raising AMD price targets in June, including a street-high call from UBS, as firms increasingly view AMD as a bigger player in AI infrastructure and data center CPUs.
• Positive Sentiment: AMD continues to gain credibility in enterprise AI, including recognition from Gartner as a leading server CPU company, which supports the long-term growth case for its data center business. Article Title
• Positive Sentiment: New business wins are also helping sentiment, including a definitive agreement with Rackspace Technology to deploy AMD-based infrastructure, reinforcing demand for AMD chips in cloud and enterprise workloads. Article Title
• Positive Sentiment: Several recent articles argue AMD still has meaningful upside as investors focus on its CPU and AI data center growth, with some bullish commentary suggesting the market may still be underappreciating its long-term earnings power.
• Neutral Sentiment: One recent piece highlighted both the positives and a caution on AMD, noting the stock’s huge six-month run and suggesting investors should stay aware of valuation risk after such a strong rally.
• Negative Sentiment: The semiconductor group has also been under pressure today, with AI chip names, including AMD, softening as momentum in the sector cools and investors rotate out of the space. Article Title
• Negative Sentiment: Bearish/neutral valuation commentary has also picked up, with some coverage questioning whether AMD’s rapid stock gains have already priced in a lot of future growth, which can weigh on the shares in the short term.

Advanced Micro Devices Price Performance

NASDAQ AMD opened at $521.58 on Monday. The stock has a market capitalization of $850.49 billion, a price-to-earnings ratio of 171.01, a PEG ratio of 1.54 and a beta of 2.50. Advanced Micro Devices, Inc. has a 1-year low of $133.50 and a 1-year high of $562.99. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.72 and a quick ratio of 1.96. The business’s fifty day moving average price is $445.21 and its 200-day moving average price is $296.64.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 EPS for the quarter, topping the consensus estimate of $1.29 by $0.08. The company had revenue of $10.25 billion during the quarter, compared to analyst estimates of $9.90 billion. Advanced Micro Devices had a return on equity of 9.55% and a net margin of 13.37%.Advanced Micro Devices’s revenue was up 37.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.96 earnings per share. On average, equities analysts predict that Advanced Micro Devices, Inc. will post 6.15 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AMD shares. Wedbush boosted their price target on Advanced Micro Devices from $290.00 to $400.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Wolfe Research set a $450.00 price objective on Advanced Micro Devices and gave the company an “outperform” rating in a research report on Monday, June 15th. DA Davidson lifted their price objective on Advanced Micro Devices from $375.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Truist Financial set a $478.00 target price on Advanced Micro Devices in a research report on Wednesday, May 6th. Finally, Weiss Ratings upgraded shares of Advanced Micro Devices from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $440.41.

Insider Buying and Selling

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 19,487 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $431.40, for a total value of $8,406,691.80. Following the transaction, the executive vice president directly owned 324,527 shares of the company’s stock, valued at approximately $140,000,947.80. This trade represents a 5.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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 business’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $460.69, for a total value of $57,586,250.00. Following the sale, the chief executive officer owned 2,896,899 shares of the company’s stock, valued at approximately $1,334,572,400.31. This represents a 4.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 378,032 shares of company stock valued at $161,876,596 in the last 90 days. Insiders own 0.50% of the company’s stock.

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.