Baker Avenue Asset Management LP Has $27.98 Million Stake in Advanced Micro Devices, Inc. $AMD

Baker Avenue Asset Management LP trimmed its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 1.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 130,666 shares of the semiconductor manufacturer’s stock after selling 2,252 shares during the quarter. Baker Avenue Asset Management LP’s holdings in Advanced Micro Devices were worth $27,983,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Key Advanced Micro Devices News

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

• Positive Sentiment: AMD’s data center business remains a major growth engine, with one recent write-up highlighting 57% year-over-year data center revenue growth to $5.78 billion, driven by EPYC CPU demand and ramping Instinct AI products. Article title
• Positive Sentiment: AMD got a lift from a new OneQode collaboration to deploy AMD Instinct MI355X GPUs and plan for AMD’s Helios rack-scale solution, reinforcing demand for its AI infrastructure products. Article title
• Positive Sentiment: Analyst commentary remains constructive, with multiple recent notes describing AMD as a beneficiary of the AI spending cycle and highlighting upside tied to continued data center and CPU gains. Article title
• Neutral Sentiment: Some articles focused on AMD’s rapid valuation expansion and the question of whether the stock can become a trillion-dollar company, which keeps expectations high but does not change the near-term growth story. Article title
• Negative Sentiment: Sentiment was pressured by reports that Cathie Wood continued trimming AMD exposure, and by concerns that Nvidia could move into the standalone server CPU market, increasing competitive pressure on AMD’s growth areas. Article title Article title

Insider Buying and Selling

In other 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 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 document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 sale, the executive vice president directly owned 324,527 shares in the company, valued at approximately $140,000,947.80. This represents a 5.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 329,085 shares of company stock worth $114,051,007. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Truist Financial set a $478.00 price target on Advanced Micro Devices in a research report on Wednesday, May 6th. DA Davidson upped their target price on Advanced Micro Devices from $375.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Evercore reiterated an “outperform” rating and set a $579.00 price objective on shares of Advanced Micro Devices in a research note on Tuesday, May 19th. Seaport Research Partners upgraded Advanced Micro Devices from a “neutral” rating to a “buy” rating and set a $430.00 price objective for the company in a research note on Wednesday, May 6th. Finally, Rosenblatt Securities increased their target price on Advanced Micro Devices from $300.00 to $490.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Two equities research 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $410.00.

Advanced Micro Devices Price Performance

Advanced Micro Devices stock opened at $495.54 on Thursday. Advanced Micro Devices, Inc. has a 12-month low of $108.62 and a 12-month high of $510.21. The business’s 50-day simple moving average is $315.01 and its 200 day simple moving average is $251.86. 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 stock has a market cap of $808.03 billion, a price-to-earnings ratio of 162.47, a P/E/G ratio of 1.48 and a beta of 2.40.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.08. Advanced Micro Devices had a return on equity of 9.55% and a net margin of 13.37%.The firm had revenue of $10.25 billion for the quarter, compared to analyst estimates of $9.90 billion. During the same quarter in the prior year, the firm posted $0.96 earnings per share. The company’s quarterly revenue was up 37.8% on a year-over-year basis. As a group, research analysts anticipate that Advanced Micro Devices, Inc. will post 6.2 earnings per share for the current year.

Advanced Micro Devices 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.