Gen Wealth Partners Inc reduced its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD – Free Report) by 32.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,688 shares of the semiconductor manufacturer’s stock after selling 1,279 shares during the period. Gen Wealth Partners Inc’s holdings in Advanced Micro Devices were worth $1,645,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of AMD. 71 West Capital Partners lifted its holdings in shares of Advanced Micro Devices by 2.9% in the 3rd quarter. 71 West Capital Partners now owns 11,897 shares of the semiconductor manufacturer’s stock worth $7,278,000 after buying an additional 337 shares during the period. Nemes Rush Group LLC grew its position in shares of Advanced Micro Devices by 0.5% during the 3rd quarter. Nemes Rush Group LLC now owns 6,096 shares of the semiconductor manufacturer’s stock worth $3,729,000 after buying an additional 28 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc grew its position in shares of Advanced Micro Devices by 36.4% during the 3rd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 193,341 shares of the semiconductor manufacturer’s stock worth $118,278,000 after buying an additional 51,619 shares in the last quarter. Gryphon Financial Partners LLC grew its position in shares of Advanced Micro Devices by 1.3% during the 3rd quarter. Gryphon Financial Partners LLC now owns 7,940 shares of the semiconductor manufacturer’s stock worth $4,858,000 after buying an additional 101 shares in the last quarter. Finally, Fairscale Capital LLC increased its stake in shares of Advanced Micro Devices by 6.6% during the third quarter. Fairscale Capital LLC now owns 581 shares of the semiconductor manufacturer’s stock valued at $355,000 after buying an additional 36 shares during the period. 71.34% of the stock is owned by hedge funds and other institutional investors.
Advanced Micro Devices Price Performance
AMD opened at $508.58 on Tuesday. The business’s 50-day moving average is $547.67 and its two-hundred day moving average is $416.28. Advanced Micro Devices, Inc. has a 1 year low of $188.22 and a 1 year high of $658.52. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.72 and a quick ratio of 1.91. The firm has a market capitalization of $830.24 billion, a PE ratio of 110.56, a price-to-earnings-growth ratio of 5.01 and a beta of 2.49.
Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last announced its earnings results on Tuesday, November 3rd. The semiconductor manufacturer reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.14. The business had revenue of $13.38 billion during the quarter, compared to the consensus estimate of $13.10 billion. Advanced Micro Devices had a net margin of 16.77% and a return on equity of 14.15%. The firm’s revenue was up 44.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.20 earnings per share. Research analysts anticipate that Advanced Micro Devices, Inc. will post 6.59 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several analysts recently weighed in on the company. Raymond James Financial restated a “strong-buy” rating and issued a $649.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, November 4th. BMO Capital Markets began coverage on shares of Advanced Micro Devices in a research note on Thursday, August 20th. They issued an “outperform” rating and a $550.00 price objective for the company. Sanford C. Bernstein reiterated an “outperform” rating on shares of Advanced Micro Devices in a report on Wednesday, November 4th. Cantor Fitzgerald reissued an “overweight” rating and set a $700.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, November 4th. Finally, DA Davidson raised their target price on shares of Advanced Micro Devices from $550.00 to $600.00 and gave the company a “buy” rating in a research report on Wednesday, November 4th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and an average price target of $642.47.
Check Out Our Latest Report on Advanced Micro Devices
Insider Transactions at Advanced Micro Devices
In other news, EVP Forrest Norrod sold 17,262 shares of Advanced Micro Devices stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $540.70, for a total value of $9,333,563.40. Following the transaction, the executive vice president owned 353,317 shares of the company’s stock, valued at $191,038,501.90. The trade was a 4.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Papermaster sold 28,811 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $471.87, for a total transaction of $13,595,046.57. Following the transaction, the executive vice president owned 1,261,461 shares of the company’s stock, valued at approximately $595,245,602.07. This trade represents a 2.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 230,957 shares of company stock worth $114,799,511. 0.50% of the stock is owned by corporate insiders.
More Advanced Micro Devices News
Here are the key news stories impacting Advanced Micro Devices this week:
- Positive Sentiment: Google Cloud is using AMD’s 5th Gen EPYC processors for host infrastructure supporting its TPU 8tx system. The deal expands AMD’s role in large-scale AI infrastructure, although it is a CPU infrastructure win rather than a selection of AMD’s AI accelerators. AMD announcement on Google Cloud
- Positive Sentiment: Oppenheimer upgraded AMD to Outperform and set a $600 price target, citing accelerating sales and forecasting 135% data-center revenue growth next year. The call helped bolster confidence in AMD’s AI growth outlook. CNBC report on Oppenheimer upgrade
- Positive Sentiment: Recent quarterly results provided additional support: revenue rose 45% year over year, with data-center revenue up 97%, and management expects revenue growth to accelerate. A broader technology-sector rally also helped lift sentiment. Quarterly results and outlook
- Neutral Sentiment: AMD also benefited as investors looked for alternatives amid pressure on Nvidia, though analysts noted that chipmakers could face increased scrutiny of sales practices. MarketWatch analysis
- Negative Sentiment: A reported Radeon GPU bug affecting SSD lifespan is a product concern, although it did not prevent the rally. Commentary also flagged elevated valuation and rising inventory as risks to sustaining gains. TipRanks report on Radeon GPU bug
Advanced Micro Devices Company Profile
Advanced Micro Devices, Inc (AMD) is a semiconductor company that designs processors, graphics products and adaptive computing solutions. Its products serve data center, personal computing, gaming, embedded and other markets. AMD is a fabless chip designer, relying on third-party manufacturing partners to produce its semiconductors.
The company’s product portfolio includes EPYC server processors, Ryzen desktop and laptop processors, Radeon graphics products, Instinct accelerators for data center computing, and adaptive chips and systems used in embedded applications.
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