Kestra Advisory Services LLC grew its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD – Free Report) by 6.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 182,806 shares of the semiconductor manufacturer’s stock after acquiring an additional 11,738 shares during the quarter. Kestra Advisory Services LLC’s holdings in Advanced Micro Devices were worth $111,833,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. Bank of America Corp DE acquired a new position in Advanced Micro Devices in the 2nd quarter valued at about $7,022,226,000. BlackRock Inc. lifted its holdings in Advanced Micro Devices by 3.1% in the 2nd quarter. BlackRock Inc. now owns 150,301,510 shares of the semiconductor manufacturer’s stock valued at $87,311,650,000 after purchasing an additional 4,535,126 shares in the last quarter. Jupiter Topco LLC purchased a new position in Advanced Micro Devices in the 2nd quarter valued at about $2,084,651,000. Wellington Management Group LLP lifted its holdings in Advanced Micro Devices by 33.9% in the 2nd quarter. Wellington Management Group LLP now owns 9,334,396 shares of the semiconductor manufacturer’s stock valued at $5,422,444,000 after purchasing an additional 2,365,419 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Advanced Micro Devices by 2.9% during the 2nd quarter. State Street Corp now owns 76,920,783 shares of the semiconductor manufacturer’s stock worth $46,606,266,000 after purchasing an additional 2,149,563 shares during the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on AMD. JPMorgan Chase & Co. lifted their price target on shares of Advanced Micro Devices from $550.00 to $575.00 and gave the stock a “neutral” rating in a report on Wednesday. Sanford C. Bernstein reissued an “outperform” rating on shares of Advanced Micro Devices in a research report on Wednesday. Melius Research set a $650.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday. Raymond James Financial restated a “strong-buy” rating and set a $649.00 target price on shares of Advanced Micro Devices in a research report on Wednesday. Finally, Wedbush reaffirmed an “outperform” rating and issued a $600.00 target price on shares of Advanced Micro Devices in a research note on Wednesday. Three research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $633.17.
Read Our Latest Stock Analysis on Advanced Micro Devices
Advanced Micro Devices Stock Down 17.3%
Shares of NASDAQ:AMD opened at $404.40 on Friday. The stock’s 50-day moving average price is $547.37 and its two-hundred day moving average price is $413.90. The company has a current ratio of 2.72, a quick ratio of 1.91 and a debt-to-equity ratio of 0.10. Advanced Micro Devices, Inc. has a 12-month low of $188.22 and a 12-month high of $658.52. The firm has a market cap of $660.17 billion, a price-to-earnings ratio of 87.91, a PEG ratio of 5.01 and a beta of 2.49.
Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last posted its quarterly earnings results on Tuesday, November 3rd. The semiconductor manufacturer reported $2.09 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 return on equity of 14.15% and a net margin of 16.77%. The firm’s revenue was up 44.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.20 EPS. On average, research analysts forecast that Advanced Micro Devices, Inc. will post 6.50 EPS for the current year.
Key Stories Impacting Advanced Micro Devices
Here are the key news stories impacting Advanced Micro Devices this week:
- Positive Sentiment: AMD reported record third-quarter revenue, up about 45% year over year, with data-center revenue nearly doubling. Management expects fourth-quarter revenue of roughly $17 billion and has forecast revenue growth above 80% in 2027, reinforcing the potential for AI and data-center demand to drive further gains. Article: Is AMD Stock a Buy as AI Revenue Soars?
- Positive Sentiment: CEO Lisa Su pushed back against concerns about AI spending, arguing that the market is taking a short-term view and reaffirming her confidence in sustained demand for computing power. Article: AMD CEO Lisa Su Calls This Market Moment ‘Short-Sighted’ on AI Spending
- Neutral Sentiment: Some analysts raised their price targets after the results, including DZ Bank to $620 and HSBC to $540; HSBC nevertheless kept a Hold rating, reflecting continued debate over how much growth is already reflected in AMD’s valuation. Article: DZ Bank Adjusts Price Target on Advanced Micro Devices to $620
- Negative Sentiment: The main near-term pressure was a broad chip-sector sell-off following Democratic midterm gains. Investors fear potential AI-industry regulation or slower data-center expansion, and concern about local resistance to data centers added to worries over future AI spending. The sector weakness weighed on AMD despite its earnings beat. Article: Why AMD Stock Is Down Today
- Negative Sentiment: Investors are also questioning AMD’s premium valuation and demanding evidence that its AI products and partnerships will translate into durable profits. Ark Invest’s reported sale of AMD shares in favor of Nvidia added to the competitive and valuation concerns. Article: Cathie Wood Just Sold AMD Stock and Bought This AI Chip Stock Instead
Insider Transactions at Advanced Micro Devices
In other Advanced Micro Devices news, EVP Jean X. Hu sold 15,000 shares of the stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $474.08, for a total transaction of $7,111,200.00. Following the transaction, the executive vice president owned 160,979 shares of the company’s stock, valued at $76,316,924.32. This trade represents a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Forrest Norrod sold 17,262 shares of the stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $540.70, for a total transaction of $9,333,563.40. Following the transaction, the executive vice president directly owned 353,317 shares in the company, valued at approximately $191,038,501.90. This represents a 4.66% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 231,100 shares of company stock valued at $114,867,400 in the last quarter. Insiders own 0.50% of the company’s stock.
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.
Featured Stories
- Five stocks we like better than Advanced Micro Devices
- Google’s Credit Backstop May Be TeraWulf’s Biggest Advantage
- Could the Midterms Revive Medicare for All? 3 Healthcare Stocks to Watch
- Qualcomm Beat Earnings, But Its Fastest-Growing Businesses Have a Catch
- Oil, Uranium, or Renewables? 3 Energy Plays for a Changing Market
Want to see what other hedge funds are holding AMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Advanced Micro Devices, Inc. (NASDAQ:AMD – Free Report).
Receive News & Ratings for Advanced Micro Devices Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advanced Micro Devices and related companies with MarketBeat.com's FREE daily email newsletter.
