Cavalier Investments Reduces Stake in Advanced Micro Devices by 1.9%

Cavalier Investments LLC has decreased its investment in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 1.9% during the second quarter of 2023, as reported in its latest filing with the Securities and Exchange Commission. The firm now holds 8,395 shares of the semiconductor giant after selling 161 shares during this period. At the end of the quarter, Cavalier Investments’ holdings were valued at approximately $1.19 million.

Several other institutional investors have also adjusted their positions in Advanced Micro Devices recently. For instance, Wise Wealth Partners acquired a new stake in the company worth about $343,000, while Parisi Gray Wealth Management made a similar investment of the same amount. Davis Investment Partners LLC invested around $736,000 to establish a new position in AMD. Additionally, REAP Financial Group LLC increased its stake by 16.9%, now owning 1,197 shares valued at approximately $170,000. Sivia Capital Partners LLC significantly boosted its holdings by 125.1%, acquiring an additional 2,970 shares for a total value of $758,000. Institutional investors collectively own 71.34% of AMD’s stock.

Stock Performance and Analyst Ratings

As of Wednesday, shares of Advanced Micro Devices opened at $238.03, reflecting a decline of 1.1%. The company maintains a fifty-day moving average price of $178.59 and a two-hundred day moving average price of $143.81. AMD’s financial health is supported by a low debt-to-equity ratio of 0.05, a current ratio of 2.49, and a quick ratio of 1.81. Over the past year, AMD’s stock has fluctuated between a low of $76.48 and a high of $242.88. The company’s market capitalization stands at $386.29 billion, with a price-to-earnings ratio of 136.80 and a PEG ratio of 2.20.

Recent analyst ratings have varied, with several research firms updating their positions on AMD. Dbs Bank upgraded the stock from a “hold” to a “moderate buy” rating on October 6, 2023. TD Cowen raised its price target from $165.00 to $195.00 while maintaining a “buy” rating as of August 6, 2023. Deutsche Bank set a price objective of $235.00 and rated the stock as a “hold” on October 14, 2023. Meanwhile, Wells Fargo & Company increased its price target from $185.00 to $275.00 and assigned an “overweight” rating on October 7, 2023. In contrast, Seaport Res Ptn downgraded AMD from a “strong buy” to a “hold” rating on September 4, 2023. Currently, the consensus rating for AMD is “Moderate Buy,” with an average price target of $233.94 according to MarketBeat.com.

Insider Transactions

In related news, Executive Vice President Forrest Eugene Norrod sold 17,200 shares of AMD on September 10, 2023, at an average price of $160.93, totaling approximately $2.77 million. Following this transaction, Norrod retains 313,848 shares of the company, valued at around $50.51 million, representing a 5.20% reduction in his position. The details of this sale were disclosed in a filing with the SEC.

Similarly, Executive Vice President Mark D. Papermaster sold 16,800 shares on October 15, 2023, at an average price of $224.28, resulting in a transaction worth approximately $3.77 million. After this sale, Papermaster holds 1,714,505 shares valued at about $384.53 million, which is a 0.97% decrease in his holdings. Over the past three months, insiders have sold a total of 274,118 shares of AMD stock valued at $46.18 million, with corporate insiders owning only 0.06% of the stock.

Advanced Micro Devices, Inc. operates globally in the semiconductor industry, providing a diverse range of products across multiple segments, including data centers, gaming, and embedded systems. The company is known for its x86 microprocessors and graphics processing units (GPUs), among other cutting-edge technologies.