Cavalier Investments LLC has reduced its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 1.9%, according to its latest filing with the Securities and Exchange Commission. The investment firm now holds 8,395 shares of the semiconductor manufacturer after selling 161 shares in the second quarter. As of the end of that quarter, Cavalier Investments’ holdings in AMD were valued at approximately $1.191 million.
Several hedge funds have also adjusted their positions in Advanced Micro Devices during the same period. Notably, Wise Wealth Partners acquired a new stake worth around $343,000, while Parisi Gray Wealth Management made a similar investment. Davis Investment Partners LLC entered the scene with a new acquisition of approximately $736,000. Additionally, REAP Financial Group LLC increased its stake by 16.9%, now owning 1,197 shares valued at $170,000 after acquiring 173 additional shares. Sivia Capital Partners LLC saw a significant rise in its holdings, boosting its stake by 125.1% to 5,344 shares worth $758,000. Institutional investors now control 71.34% of AMD’s stock.
Stock Performance and Analyst Ratings
As of Wednesday, Advanced Micro Devices’ shares opened at $238.03, reflecting a 1.1% decrease. The stock has a fifty-day moving average of $178.59 and a two-hundred-day moving average of $143.81. Over the past year, AMD’s stock has fluctuated between a low of $76.48 and a high of $242.88. The company currently holds a market capitalization of $386.29 billion and carries a price-to-earnings ratio of 136.80.
Recent updates from analysts provide insight into AMD’s market outlook. Dbs Bank upgraded its rating from “hold” to “moderate buy” on October 6, 2023. Meanwhile, TD Cowen increased its price target from $165.00 to $195.00, advising a “buy” rating. Deutsche Bank Aktiengesellschaft set a price objective of $235.00 and rated the stock as “hold”. Wells Fargo & Company announced an elevated target of $275.00 and an “overweight” rating. Notably, Seaport Res Partners downgraded its recommendation from “strong buy” to “hold”. Currently, three analysts classify AMD as a Strong Buy, twenty-six give it a Buy rating, while ten assign a Hold rating, and one rates it as a Sell. The consensus rating stands at “Moderate Buy” with an average price target of $233.94.
Insider Transactions and Company Profile
In related news, EVP Forrest Eugene Norrod sold 17,200 shares on September 10, 2023, at an average price of $160.93, amounting to a total transaction of $2,767,996. Following this sale, Norrod maintains ownership of 313,848 shares valued at approximately $50.51 million. The transaction reflects a 5.20% reduction in his position. Details of this trade were disclosed in a filing with the SEC.
Likewise, EVP Mark D. Papermaster sold 16,800 shares on October 15, 2023, at an average price of $224.28, totaling $3,767,904. After this transaction, Papermaster holds 1,714,505 shares, valued at around $384.53 million, marking a 0.97% decrease in his stake. Over the last 90 days, insiders have sold a total of 274,118 shares worth $46.18 million. Currently, corporate insiders own 0.06% of Advanced Micro Devices’ stock.
Advanced Micro Devices, Inc. operates as a global semiconductor company. It is segmented into Data Center, Client, Gaming, and Embedded categories, offering a wide range of products, including x86 microprocessors and graphics processing units (GPUs). The company also provides services related to microprocessor and system-on-chip (SoC) development, along with various data processing units and field programmable gate arrays (FPGAs).
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