Gradient Capital Advisors LLC Reduces Stake in Advanced Micro Devices, Inc. $AMD

Gradient Capital Advisors LLC reduced its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 30.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,453 shares of the semiconductor manufacturer’s stock after selling 2,417 shares during the period. Gradient Capital Advisors LLC’s holdings in Advanced Micro Devices were worth $1,168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of AMD. Jennison Associates LLC boosted its stake in shares of Advanced Micro Devices by 181.6% in the 4th quarter. Jennison Associates LLC now owns 10,910,310 shares of the semiconductor manufacturer’s stock worth $2,336,552,000 after buying an additional 7,035,991 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Advanced Micro Devices by 335.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,847,825 shares of the semiconductor manufacturer’s stock worth $784,330,000 after buying an additional 3,735,807 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Advanced Micro Devices by 104.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 5,991,297 shares of the semiconductor manufacturer’s stock worth $1,283,096,000 after buying an additional 3,059,935 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Advanced Micro Devices by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 158,522,860 shares of the semiconductor manufacturer’s stock worth $33,949,256,000 after buying an additional 2,525,109 shares during the last quarter. Finally, Rafferty Asset Management LLC boosted its stake in shares of Advanced Micro Devices by 56.0% in the 2nd quarter. Rafferty Asset Management LLC now owns 6,772,923 shares of the semiconductor manufacturer’s stock worth $961,078,000 after buying an additional 2,430,533 shares during the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AMD. Morgan Stanley raised their price target on Advanced Micro Devices from $360.00 to $410.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Sanford C. Bernstein upgraded Advanced Micro Devices from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $265.00 to $525.00 in a research note on Wednesday, May 6th. Northland Securities reaffirmed a “market perform” rating and issued a $260.00 target price on shares of Advanced Micro Devices in a report on Monday, April 27th. Needham & Company LLC raised Advanced Micro Devices to a “buy” rating in a report on Wednesday, May 6th. Finally, KeyCorp raised their target price on Advanced Micro Devices from $330.00 to $530.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $410.00.

Key Stories Impacting Advanced Micro Devices

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

• Positive Sentiment: CEO Lisa Su said AMD expects strong CPU growth over the next five years, helping fuel optimism about long-term demand for its data center chips. AMD Stock Rallies as Lisa Su Expects CPU Growth of ‘35% Each Year’ for the Next 5 Years
• Positive Sentiment: AMD began ramping production of its “Venice” EPYC CPUs on TSMC’s 2nm node, a major manufacturing milestone that supports its AI and server growth story. AMD Announces Production Ramp of Next-Generation AMD EPYC Processor “Venice” on TSMC 2nm Process Technology
• Positive Sentiment: AMD announced more than $10 billion of investment across Taiwan’s AI ecosystem to expand advanced packaging capacity and support future AI deployments, including the Helios rack-scale platform. AMD Announces More Than $10 Billion in Taiwan Ecosystem Investments to Accelerate AI Infrastructure
• Positive Sentiment: Nvidia’s strong AI commentary and broader chip-sector momentum are boosting confidence that AMD will benefit from continued AI infrastructure spending. AMD Stock (AMD) Hits All-Time High as Nvidia Earnings Boost Confidence in the AI Trade
• Neutral Sentiment: Some commentary suggests AMD’s sharp rally has already priced in a lot of good news, so investors may continue debating valuation after the recent run-up. After a Q1 Blowout and a Soaring Share Price, Is AMD Stock Still a Buy?

Advanced Micro Devices Price Performance

NASDAQ:AMD opened at $467.51 on Friday. 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 business’s 50-day simple moving average is $297.43 and its two-hundred day simple moving average is $246.86. The stock has a market cap of $762.32 billion, a PE ratio of 153.28, a P/E/G ratio of 1.32 and a beta of 2.40. Advanced Micro Devices, Inc. has a 52 week low of $107.67 and a 52 week high of $481.41.

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 analysts’ consensus estimates of $1.29 by $0.08. The business had revenue of $10.25 billion for 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% on a year-over-year basis. During the same period last year, the firm earned $0.96 earnings per share. As a group, analysts forecast that Advanced Micro Devices, Inc. will post 6.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other Advanced Micro Devices news, CEO Lisa T. Su sold 125,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $445.51, for a total transaction of $55,688,750.00. Following the sale, the chief executive officer directly owned 3,021,899 shares of the company’s stock, valued at $1,346,286,223.49. This trade represents a 3.97% decrease in their ownership of the stock. The transaction was disclosed in a legal 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 shares were 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 represents a 18.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 329,085 shares of company stock valued at $114,051,007 in the last ninety 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.