Cavalier Investments LLC has reduced its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 1.9% during the second quarter of 2023, according to a recent filing with the Securities and Exchange Commission. The firm now holds 8,395 shares of the semiconductor company after selling 161 shares during the quarter, with a total value of approximately $1,191,000.
Several other hedge funds have also adjusted their holdings in Advanced Micro Devices. Wise Wealth Partners and Parisi Gray Wealth Management each acquired new stakes valued at approximately $343,000 in the second quarter. Davis Investment Partners LLC invested around $736,000, while REAP Financial Group LLC increased its stake by 16.9%, now owning 1,197 shares worth about $170,000 after purchasing an additional 173 shares. Additionally, Sivia Capital Partners LLC boosted its holdings by an impressive 125.1%, acquiring 2,970 shares to reach a total of 5,344 shares, valued at $758,000. Currently, institutional investors own approximately 71.34% of the company’s stock.
On the trading front, shares of Advanced Micro Devices opened at $238.03 on Wednesday, reflecting a decrease of 1.1%. The firm has a fifty-day moving average price of $178.59 and a two-hundred-day moving average price of $143.81. The company’s financial ratios include a debt-to-equity ratio of 0.05, a current ratio of 2.49, and a quick ratio of 1.81. Over the past year, shares have fluctuated significantly, with a low of $76.48 and a high of $242.88. The market capitalization stands at $386.29 billion, with a price-to-earnings ratio of 136.80 and a PEG ratio of 2.20.
Analyst Ratings and Insider Transactions
Recent activity among analysts suggests a positive outlook for AMD. Dbs Bank upgraded the stock from a “hold” rating to a “moderate buy” on October 6, 2023. Following suit, TD Cowen increased its price target from $165.00 to $195.00 and assigned a “buy” rating on August 6, 2023. Deutsche Bank Aktiengesellschaft has set a price target of $235.00 while maintaining a “hold” rating. Wells Fargo & Company followed by raising its price target from $185.00 to $275.00 with an “overweight” rating. In contrast, Seaport Res Ptn downgraded the stock from a “strong buy” to a “hold” on September 4, 2023. The consensus rating for AMD currently stands at “Moderate Buy,” with an average price target of $233.94.
Amid these developments, insider transactions have also been noted. On September 10, 2023, Forrest Eugene Norrod, Executive Vice President, sold 17,200 shares at an average price of $160.93, totaling approximately $2,767,996. Following this sale, Norrod retained 313,848 shares valued at around $50.51 million. This sale represented a 5.20% decrease in his position. Another notable transaction involved Mark D. Papermaster, also an Executive Vice President, who sold 16,800 shares on October 15, 2023, at an average price of $224.28, resulting in a total transaction of approximately $3,767,904. After this sale, Papermaster owned 1,714,505 shares, valued at approximately $384.53 million, reflecting a 0.97% decrease in his holdings. In total, insiders have sold 274,118 shares worth approximately $46.18 million over the last 90 days, with 0.06% of the stock owned by corporate insiders.
Company Overview
Advanced Micro Devices, Inc. operates globally as a semiconductor manufacturer. The company segments its operations into Data Center, Client, Gaming, and Embedded divisions. AMD provides a range of products, including x86 microprocessors, graphics processing units (GPUs), and accelerated processing units. Additionally, it offers chipsets, embedded processors, semi-custom system-on-chip (SoC) products, and development services.
For those interested in further details regarding AMD’s holdings and insider trades, resources such as HoldingsChannel.com provide up-to-date information on the company’s financial activities and investment landscape.
