Advanced Micro Devices, Inc. $AMD Shares Sold by Perkins Capital Management Inc.

Perkins Capital Management Inc. trimmed its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 12.2% during the 1st quarter, Holdings Channel reports. The institutional investor owned 15,504 shares of the semiconductor manufacturer’s stock after selling 2,150 shares during the period. Advanced Micro Devices comprises 3.0% of Perkins Capital Management Inc.’s holdings, making the stock its 8th largest holding. Perkins Capital Management Inc.’s holdings in Advanced Micro Devices were worth $3,154,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in AMD. Joseph Group Capital Management purchased a new stake in Advanced Micro Devices during the 4th quarter worth approximately $25,000. Cornerstone Financial Management LLC acquired a new position in Advanced Micro Devices during the 4th quarter valued at approximately $27,000. Sarver Vrooman Wealth Advisors purchased a new position in shares of Advanced Micro Devices in the fourth quarter worth $27,000. Basepoint Wealth LLC purchased a new position in shares of Advanced Micro Devices in the fourth quarter worth $30,000. Finally, Wilkerson Advisory Group LLC acquired a new stake in shares of Advanced Micro Devices during the fourth quarter worth $33,000. 71.34% of the stock is owned by institutional investors and hedge funds.

Advanced Micro Devices Trading Up 7.7%

NASDAQ AMD opened at $580.91 on Wednesday. The company has a market capitalization of $947.23 billion, a PE ratio of 190.46, a P/E/G ratio of 1.59 and a beta of 2.50. The company has a fifty day moving average of $456.48 and a 200 day moving average of $301.41. Advanced Micro Devices, Inc. has a 1 year low of $133.50 and a 1 year high of $584.73. 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 (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 EPS for the quarter, beating the consensus estimate of $1.29 by $0.08. The company had revenue of $10.25 billion for 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 firm’s revenue was up 37.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.96 earnings per share. Research analysts forecast that Advanced Micro Devices, Inc. will post 6.15 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AMD. Truist Financial set a $478.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, May 6th. Oppenheimer lowered Advanced Micro Devices from a “market perform” rating to a “market perform” rating in a research note on Wednesday, May 6th. Citigroup cut Advanced Micro Devices from a “buy” rating to a “market perform” rating in a research report on Friday, June 12th. Wells Fargo & Company boosted their price target on Advanced Micro Devices from $505.00 to $615.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Seaport Research Partners raised Advanced Micro Devices from a “neutral” rating to a “buy” rating and set a $430.00 price objective on the stock in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $448.78.

Key Headlines Impacting Advanced Micro Devices

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

• Positive Sentiment: Wells Fargo raised its AMD price target to $615 from $505, citing stronger server CPU demand and better long-term visibility. Article Title
• Positive Sentiment: More Wall Street firms are turning bullish on AMD as AI infrastructure spending broadens beyond Nvidia and into chip suppliers. Article Title
• Positive Sentiment: AMD’s strong AI and data center growth narrative continues to attract momentum buyers and options traders. Article Title
• Neutral Sentiment: AMD has seen unusually heavy insider selling over the past six months, which may temper some investor enthusiasm. Article Title

Insiders Place Their Bets

In other news, EVP Forrest Eugene Norrod sold 19,487 shares of the company’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 sale, the executive vice president owned 324,527 shares in the company, valued at $140,000,947.80. This represents a 5.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Paul Darren Grasby sold 24,376 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $444.39, for a total value of $10,832,450.64. Following the sale, the executive vice president directly owned 105,222 shares in the company, valued at approximately $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. Over the last quarter, insiders have sold 378,032 shares of company stock worth $161,876,596. 0.50% of the stock is currently owned by company insiders.

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.