Spear Advisors LLC Buys New Position in Advanced Micro Devices, Inc. $AMD

Spear Advisors LLC bought a new stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 21,456 shares of the semiconductor manufacturer’s stock, valued at approximately $4,595,000. Advanced Micro Devices accounts for approximately 3.2% of Spear Advisors LLC’s investment portfolio, making the stock its 16th biggest holding.

Several other hedge funds have also recently added to or reduced their stakes in AMD. Joseph Group Capital Management bought a new stake in Advanced Micro Devices during the 4th quarter valued at approximately $25,000. Koesten Hirschmann & Crabtree INC. boosted its stake in Advanced Micro Devices by 61.0% during the 3rd quarter. Koesten Hirschmann & Crabtree INC. now owns 161 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 61 shares during the period. Sarver Vrooman Wealth Advisors bought a new stake in Advanced Micro Devices during the 4th quarter valued at approximately $27,000. Cornerstone Financial Management LLC bought a new stake in Advanced Micro Devices during the 4th quarter valued at approximately $27,000. Finally, Basepoint Wealth LLC bought a new stake in Advanced Micro Devices during the 4th quarter valued at approximately $30,000. Institutional investors own 71.34% of the company’s stock.

More Advanced Micro Devices News

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

• Positive Sentiment: Q1 earnings and revenue both topped expectations, with data center sales up sharply on strong demand for EPYC CPUs and Instinct GPUs.
• Positive Sentiment: Several analysts raised price targets after the earnings report, citing AMD’s accelerating AI and data center growth.
• Positive Sentiment: AMD expanded FSR 4.1 support to older GPUs and introduced new Ryzen PRO 9000 offerings, reinforcing product momentum in client and gaming.

Insider Transactions at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 31,320 shares of the firm’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $350.00, for a total transaction of $10,962,000.00. Following the completion of the sale, the executive vice president directly owned 1,236,037 shares of the company’s stock, valued at $432,612,950. This trade represents a 2.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 firm’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $445.51, for a total value 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 represents a 3.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 309,598 shares of company stock valued at $105,644,316. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

AMD has been the subject of a number of research reports. The Goldman Sachs Group upgraded Advanced Micro Devices from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $240.00 to $450.00 in a research report on Wednesday, May 6th. Piper Sandler reiterated an “overweight” rating on shares of Advanced Micro Devices in a research report on Wednesday, February 25th. Truist Financial set a $478.00 price objective on Advanced Micro Devices in a research report on Wednesday, May 6th. Jefferies Financial Group downgraded Advanced Micro Devices from a “buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Finally, TD Cowen raised their price objective on Advanced Micro Devices from $290.00 to $500.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $396.95.

Advanced Micro Devices Stock Performance

Shares of AMD opened at $424.10 on Monday. Advanced Micro Devices, Inc. has a 1 year low of $107.67 and a 1 year high of $469.21. The company has a current ratio of 2.72, a quick ratio of 1.96 and a debt-to-equity ratio of 0.04. The stock has a 50 day simple moving average of $273.49 and a 200-day simple moving average of $240.39. The stock has a market cap of $691.54 billion, a PE ratio of 139.05, a PEG ratio of 1.26 and a beta of 2.40.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $9.90 billion. During the same period in the prior year, the firm posted $0.96 EPS. Advanced Micro Devices’s quarterly revenue was up 37.8% compared to the same quarter last year. On average, sell-side analysts predict that Advanced Micro Devices, Inc. will post 6.2 EPS for the current fiscal year.

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.