Patten & Patten Inc. TN cut its position in Advanced Micro Devices, Inc. (NASDAQ:AMD – Free Report) by 11.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,212 shares of the semiconductor manufacturer’s stock after selling 5,229 shares during the quarter. Patten & Patten Inc. TN’s holdings in Advanced Micro Devices were worth $8,612,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also modified their holdings of the company. Impax Asset Management Group plc grew its stake in shares of Advanced Micro Devices by 326.5% in the third quarter. Impax Asset Management Group plc now owns 52,068 shares of the semiconductor manufacturer’s stock valued at $8,424,000 after buying an additional 39,861 shares in the last quarter. Zweig DiMenna Associates LLC grew its stake in shares of Advanced Micro Devices by 127.6% in the third quarter. Zweig DiMenna Associates LLC now owns 72,602 shares of the semiconductor manufacturer’s stock valued at $11,746,000 after buying an additional 40,708 shares in the last quarter. Wedbush Securities Inc. grew its stake in shares of Advanced Micro Devices by 7.8% in the third quarter. Wedbush Securities Inc. now owns 84,256 shares of the semiconductor manufacturer’s stock valued at $13,632,000 after buying an additional 6,095 shares in the last quarter. Highline Wealth Partners LLC grew its stake in shares of Advanced Micro Devices by 4,891.6% in the fourth quarter. Highline Wealth Partners LLC now owns 8,286 shares of the semiconductor manufacturer’s stock valued at $1,775,000 after buying an additional 8,120 shares in the last quarter. Finally, William Blair Investment Management LLC grew its stake in shares of Advanced Micro Devices by 72.5% in the third quarter. William Blair Investment Management LLC now owns 1,047,200 shares of the semiconductor manufacturer’s stock valued at $169,426,000 after buying an additional 440,296 shares in the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, EVP Forrest Eugene Norrod sold 19,450 shares of the company’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $216.81, for a total transaction of $4,216,954.50. Following the completion of the transaction, the executive vice president directly owned 289,098 shares of the company’s stock, valued at approximately $62,679,337.38. This represents a 6.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Paul Darren Grasby sold 7,500 shares of the company’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $204.87, for a total value of $1,536,525.00. Following the transaction, the executive vice president directly owned 129,598 shares of the company’s stock, valued at approximately $26,550,742.26. This represents a 5.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 304,672 shares of company stock valued at $70,135,070. 0.50% of the stock is owned by insiders.
Advanced Micro Devices Trading Up 11.4%
Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.08. The business had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $9.90 billion. Advanced Micro Devices had a return on equity of 9.55% and a net margin of 13.37%.The business’s quarterly revenue was up 37.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.96 EPS. As a group, analysts anticipate that Advanced Micro Devices, Inc. will post 5.95 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on AMD shares. HSBC cut Advanced Micro Devices from a “buy” rating to a “hold” rating and boosted their target price for the stock from $335.00 to $340.00 in a research note on Monday. Phillip Securities raised Advanced Micro Devices from a “moderate buy” rating to a “strong-buy” rating in a research note on Sunday, February 8th. Zacks Research raised Advanced Micro Devices from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Cantor Fitzgerald boosted their target price on Advanced Micro Devices to $500.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Wall Street Zen raised Advanced Micro Devices from a “hold” rating to a “buy” rating in a research note on Monday, January 26th. Two 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. Based on data from MarketBeat.com, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and an average price target of $388.84.
Key Stories Impacting Advanced Micro Devices
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.
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.
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