Fulton Breakefield Broenniman Reduces AMD Holdings

Fulton Breakefield Broenniman LLC has recently decreased its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 12.9% in the fourth quarter, as noted in its latest disclosure with the Securities and Exchange Commission (SEC). Following the sale of 8,524 shares, the fund now owns 57,434 shares of the semiconductor company, which were valued at approximately $6,937,000 at the end of this reporting period.

A wave of institutional investors and hedge funds have also adjusted their positions in AMD. For instance, in the third quarter, Creative Capital Management Investments LLC boosted its share in Advanced Micro Devices by an impressive 124.6%, now holding 155 shares worth $25,000 after acquiring an additional 86 shares in the last quarter. Similarly, ZRC Wealth Management LLC raised its position by 90.4%, obtaining a total of 158 shares valued at $26,000 following a purchase of 75 additional shares during the same quarter. Additionally, other firms like Global Wealth Strategies & Associates and Retirement Wealth Solutions LLC bought new stakes in AMD during the fourth quarter, valued at $26,000 and $32,000 respectively. Over the third quarter, FSA Wealth Management LLC also acquired a new stake valued at approximately $41,000. Currently, institutional investors and hedge funds collectively own 71.34% of Advanced Micro Devices' stock.

Analysts Update Price Targets

Advanced Micro Devices has been featured in various recent research reports. TD Cowen revised their price target from $185.00 down to $150.00, assigning a "buy" rating in a report published on January 13th. KeyCorp also cut their price target for AMD shares from $220.00 to $150.00, maintaining an "overweight" rating. Conversely, StockNews.com downgraded AMD from a "hold" to a "sell" rating as of January 14th. In other evaluations, Cantor Fitzgerald reaffirmed an "overweight" rating with a price objective of $180.00 on October 30th, while Melius Research listed a price target of $129.00, reflecting a drop from the previous target of $160.00. In total, two analysts suggested a sell rating, eight maintained a hold rating, while twenty-one analysts assigned a buy rating, and two expressed a strong buy recommendation on AMD stock. According to MarketBeat.com, AMD's stock currently has an average rating of "Moderate Buy" with an overall average price target of $173.07.

AMD Stock Performance

On Wednesday, AMD's stock opened at $114.17. The company shows a current ratio of 2.50 and a quick ratio of 1.78, alongside a debt-to-equity ratio of 0.03. Notably, AMD has experienced a one-year low of $112.80 and a one-year high of $227.30. The fifty-day simple moving average stands at $127.65, while the 200-day simple moving average is at $142.74. Advanced Micro Devices, Inc. boasts a market capitalization of $185.28 billion, with a price-to-earnings (PE) ratio of 102.86 and a price-to-earnings growth (PEG) ratio of 1.09, along with a beta of 1.66.

Recent Earnings Announcement

Advanced Micro Devices recently reported its earnings results on October 29th, revealing that the company achieved earnings of $0.92 per share (EPS) for the quarter, aligning perfectly with analysts' expectations. AMD reported a net margin of 7.52% and a return on equity of 6.62%. The revenue for the quarter reached $6.82 billion, comfortably surpassing the analyst estimates of $6.71 billion. In the same quarter last year, AMD recorded an EPS of $0.53. The quarterly revenue exhibited a year-over-year increase of 17.6%. Analysts project that AMD will post an EPS of 2.54 for the current fiscal year.

Insider Trading Activity

In other news involving Advanced Micro Devices, Executive Vice President Forrest Eugene Norrod sold 40,540 shares of the company on November 5th, with an average selling price of $141.67, leading to a total transaction value of approximately $5,743,301.80. After this transaction, he owns 293,347 shares valued at around $41,558,469.49, representing a decrease of 12.14% in his stake. The SEC filing disclosing this transaction is accessible on their website. Additionally, CEO Lisa T. Su sold 76,496 shares of company stock on December 4th, also at an average price of $142.66, with the trade totaling about $10,912,919.36. Post-sale, she retains ownership of 3,566,762 shares valued at approximately $508,834,266.92, marking a 2.10% decrease in her ownership. In the past 90 days, insider trading has seen a total of 197,036 shares sold, with an overall value of $28,165,821. Insiders currently hold about 0.73% of the company's shares.

About Advanced Micro Devices

Advanced Micro Devices, Inc. is a global semiconductor company that operates through varied segments, including Data Center, Client, Gaming, and Embedded. The firm produces x86 microprocessors, graphics processing units (GPUs), chipsets, and semi-custom system-on-chip (SoC) products, along with offering development services and technologies in microprocessors and SoC, data processing units, and adaptive SoC products.

AMD, Holdings, Investors