Provenance Wealth Advisors LLC boosted its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD – Free Report) by 159.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 3,627 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,231 shares during the quarter. Provenance Wealth Advisors LLC’s holdings in Advanced Micro Devices were worth $2,219,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in AMD. Bank of America Corp DE bought a new stake in shares of Advanced Micro Devices during the second quarter valued at approximately $7,022,226,000. BlackRock Inc. lifted its holdings in shares of Advanced Micro Devices by 3.1% in the second quarter. BlackRock Inc. now owns 150,301,510 shares of the semiconductor manufacturer’s stock worth $87,311,650,000 after buying an additional 4,535,126 shares in the last quarter. Jupiter Topco LLC purchased a new position in shares of Advanced Micro Devices in the second quarter worth $2,084,651,000. Wellington Management Group LLP boosted its position in shares of Advanced Micro Devices by 33.9% during the second quarter. Wellington Management Group LLP now owns 9,334,396 shares of the semiconductor manufacturer’s stock worth $5,422,444,000 after acquiring an additional 2,365,419 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Advanced Micro Devices by 2.9% during the second quarter. State Street Corp now owns 76,920,783 shares of the semiconductor manufacturer’s stock worth $46,606,266,000 after acquiring an additional 2,149,563 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Advanced Micro Devices
In other news, EVP Paul Grasby sold 15,000 shares of Advanced Micro Devices stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $514.91, for a total transaction of $7,723,650.00. Following the completion of the sale, the executive vice president owned 117,687 shares of the company’s stock, valued at approximately $60,598,213.17. The trade was a 11.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Jean X. Hu sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $474.08, for a total value of $7,111,200.00. Following the completion of the sale, the executive vice president owned 160,979 shares of the company’s stock, valued at $76,316,924.32. The trade was a 8.52% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 231,100 shares of company stock valued at $114,867,400. 0.50% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on AMD. Mizuho set a $610.00 target price on shares of Advanced Micro Devices in a research note on Wednesday. Wedbush reiterated an “outperform” rating and issued a $600.00 price target on shares of Advanced Micro Devices in a research note on Tuesday, October 20th. Morgan Stanley increased their price objective on shares of Advanced Micro Devices from $465.00 to $510.00 and gave the company an “equal weight” rating in a report on Monday. Argus increased their price objective on shares of Advanced Micro Devices from $450.00 to $625.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Weiss Ratings upgraded Advanced Micro Devices from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Three analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and a consensus target price of $608.14.
Get Our Latest Stock Report on Advanced Micro Devices
Advanced Micro Devices News Roundup
Here are the key news stories impacting Advanced Micro Devices this week:
- Positive Sentiment: AMD reported record Q3 revenue of $13.38 billion and earnings of $2.09 per share, beating analyst estimates. Data-center revenue rose 97% year over year to $8.55 billion, driven by sales of Instinct GPUs and EPYC processors. CNBC earnings report
- Positive Sentiment: The company forecast roughly $17 billion in Q4 revenue, above expectations, implying a sharp sequential increase and about 66% year-over-year growth. The guidance reinforced confidence that AI-chip demand and data-center expansion are accelerating. Reuters outlook coverage
- Neutral Sentiment: Management described the quarter as the company’s largest and most profitable, while coverage also noted mixed performance outside data center, including in gaming, client and embedded businesses. Yahoo Finance interview
- Negative Sentiment: Investors may remain alert to the cost of scaling AI growth: commentary flagged a roughly $3 billion inventory build and sharply weaker free cash flow. AMD’s high valuation also leaves the stock vulnerable if future growth fails to meet elevated expectations. Barchart analysis
Advanced Micro Devices Trading Up 3.7%
AMD stock opened at $483.90 on Wednesday. Advanced Micro Devices, Inc. has a 12 month low of $188.22 and a 12 month high of $658.52. The firm’s 50-day moving average is $548.70 and its 200 day moving average is $411.73. The company has a market capitalization of $789.95 billion, a PE ratio of 124.40, a P/E/G ratio of 4.79 and a beta of 2.49. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.61 and a quick ratio of 1.91.
Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last released its quarterly earnings data on Tuesday, November 3rd. The semiconductor manufacturer reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.14. The company had revenue of $13.38 billion during the quarter, compared to analysts’ expectations of $13.10 billion. Advanced Micro Devices had a net margin of 15.58% and a return on equity of 12.30%. The firm’s quarterly revenue was up 44.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.20 EPS. On average, research analysts anticipate that Advanced Micro Devices, Inc. will post 6.50 EPS for the current year.
Advanced Micro Devices Company Profile
Advanced Micro Devices, Inc (NASDAQ: AMD) is a global semiconductor company that designs high-performance computing, graphics and adaptive computing products. Its offerings serve data centers, personal computers, gaming systems, embedded markets and other specialized applications.
AMD’s product portfolio includes Ryzen processors for desktop and notebook computers, EPYC server processors, Radeon graphics processing units, and Instinct accelerators for artificial intelligence and high-performance computing.
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