Jessup Wealth Management Inc Has $9.29 Million Stake in Advanced Micro Devices, Inc. $AMD

Jessup Wealth Management Inc cut its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 47.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 43,389 shares of the semiconductor manufacturer’s stock after selling 38,666 shares during the quarter. Advanced Micro Devices accounts for about 3.1% of Jessup Wealth Management Inc’s portfolio, making the stock its 10th biggest holding. Jessup Wealth Management Inc’s holdings in Advanced Micro Devices were worth $9,292,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Sharpepoint LLC bought a new position in shares of Advanced Micro Devices during the fourth quarter worth about $1,006,000. Ameritas Investment Partners Inc. grew its holdings in shares of Advanced Micro Devices by 1.8% during the fourth quarter. Ameritas Investment Partners Inc. now owns 97,043 shares of the semiconductor manufacturer’s stock worth $20,783,000 after buying an additional 1,684 shares in the last quarter. Townsquare Capital LLC grew its holdings in shares of Advanced Micro Devices by 0.9% during the fourth quarter. Townsquare Capital LLC now owns 7,226 shares of the semiconductor manufacturer’s stock worth $1,548,000 after buying an additional 62 shares in the last quarter. Wellspring Financial Advisors LLC acquired a new position in Advanced Micro Devices during the fourth quarter valued at approximately $298,000. Finally, Myriad Asset Management Advisors LLC acquired a new position in Advanced Micro Devices during the fourth quarter valued at approximately $1,887,000. 71.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Nora Denzel sold 8,626 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $522.00, for a total value of $4,502,772.00. Following the completion of the sale, the director directly owned 87,173 shares of the company’s stock, valued at $45,504,306. This trade represents a 9.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Paul Darren Grasby sold 24,376 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president directly owned 105,222 shares of the company’s stock, valued at approximately $46,759,604.58. The trade was a 18.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 247,032 shares of company stock valued at $101,072,366. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AMD. Oppenheimer cut Advanced Micro Devices from a “market perform” rating to a “market perform” rating in a research report on Wednesday, May 6th. Roth Mkm reissued a “buy” rating and set a $500.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, May 6th. Stifel Nicolaus increased their price target on Advanced Micro Devices from $320.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Benchmark increased their price target on Advanced Micro Devices from $325.00 to $485.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, Northland Securities reissued a “market perform” rating and set a $260.00 price target on shares of Advanced Micro Devices in a research report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and an average price target of $419.86.

Advanced Micro Devices News Roundup

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

• Positive Sentiment: AMD continues to benefit from strong AI infrastructure demand, with recent coverage highlighting record data center revenue and growing adoption of EPYC and Instinct products.
• Positive Sentiment: Wall Street remains broadly constructive on AMD, with multiple buy/overweight ratings and several price targets above current levels.
• Neutral Sentiment: TSMC’s strong monthly sales reinforced that demand for AI chips remains robust across the semiconductor supply chain.
• Negative Sentiment: AMD was hit by a sector-wide semiconductor selloff as investors pulled back from high-flying chip stocks.
• Negative Sentiment: AMD’s investment in TensorWave raised concerns about circular financing and added to recent caution around AI-related capital allocation.
• Negative Sentiment: Several market commentators and analysts warned that AMD’s sharp multi-month rally may be leaving the stock vulnerable to a valuation reset.

Advanced Micro Devices Stock Performance

AMD opened at $452.40 on Thursday. Advanced Micro Devices, Inc. has a 12-month low of $115.06 and a 12-month high of $546.44. The stock has a market cap of $737.68 billion, a price-to-earnings ratio of 148.33, a PEG ratio of 1.40 and a beta of 2.50. The business has a 50 day moving average of $374.69 and a 200-day moving average of $270.50. The company has a quick ratio of 1.96, a current ratio of 2.72 and a debt-to-equity ratio of 0.04.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share (EPS) for the quarter, beating 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 company had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $9.90 billion. During the same period last year, the firm posted $0.96 earnings per share. The business’s revenue was up 37.8% on a year-over-year basis. On average, equities research analysts expect that Advanced Micro Devices, Inc. will post 6.2 earnings per share for the current year.

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.