Advanced Micro Devices, Inc. $AMD Stock Position Cut by International Assets Investment Management LLC

International Assets Investment Management LLC decreased its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 93.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,181 shares of the semiconductor manufacturer’s stock after selling 29,316 shares during the period. International Assets Investment Management LLC’s holdings in Advanced Micro Devices were worth $1,334,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMD. BlackRock Inc. grew its holdings in shares of Advanced Micro Devices by 3.1% during 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. State Street Corp raised its position in Advanced Micro Devices by 2.9% in the 2nd quarter. State Street Corp now owns 76,920,783 shares of the semiconductor manufacturer’s stock valued at $46,606,266,000 after buying an additional 2,149,563 shares during the last quarter. Bank of America Corp DE bought a new stake in Advanced Micro Devices in the 2nd quarter valued at approximately $7,022,226,000. Jennison Associates LLC lifted its stake in Advanced Micro Devices by 5.8% in the 2nd quarter. Jennison Associates LLC now owns 9,972,952 shares of the semiconductor manufacturer’s stock valued at $5,793,388,000 after acquiring an additional 545,575 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in Advanced Micro Devices by 33.9% during the 2nd 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. Institutional investors and hedge funds own 71.34% of the company’s stock.

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, CEO Lisa Su sold 70,000 shares of the company’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $506.80, for a total transaction of $35,476,000.00. Following the sale, the chief executive officer directly owned 3,032,156 shares of the company’s stock, valued at approximately $1,536,696,660.80. This represents a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available 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 on Thursday, October 15th. The shares were sold at an average price of $540.70, for a total transaction of $9,333,563.40. Following the completion of the sale, the executive vice president owned 353,317 shares of the company’s stock, 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 90 days. Company insiders own 0.50% of the company’s stock.

Advanced Micro Devices Stock Up 3.7%

NASDAQ:AMD opened at $483.90 on Wednesday. The firm has a market capitalization of $789.95 billion, a price-to-earnings ratio of 124.40, a price-to-earnings-growth ratio of 4.79 and a beta of 2.49. Advanced Micro Devices, Inc. has a twelve month low of $188.22 and a twelve month high of $658.52. The stock’s 50 day moving average price is $548.70 and its two-hundred day moving average price is $411.73. The company has a quick ratio of 1.91, a current ratio of 2.61 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data 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 the consensus estimate of $13.10 billion. Advanced Micro Devices had a return on equity of 12.30% and a net margin of 15.58%. During the same quarter in the prior year, the firm posted $1.20 EPS. The firm’s revenue for the quarter was up 44.7% compared to the same quarter last year. Equities research analysts expect that Advanced Micro Devices, Inc. will post 6.50 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Advanced Micro Devices from $385.00 to $550.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Citigroup increased their target price on shares of Advanced Micro Devices from $575.00 to $800.00 and gave the stock a “buy” rating in a report on Tuesday, October 6th. Piper Sandler began coverage on shares of Advanced Micro Devices in a research report on Tuesday, September 15th. They issued an “overweight” rating and a $600.00 target price for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $700.00 price target on shares of Advanced Micro Devices in a research note on Tuesday, September 29th. Finally, Melius Research set a $660.00 price target on shares of Advanced Micro Devices in a research report on Friday, July 24th. Three 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 assigned a Sell rating to the company. According to MarketBeat, Advanced Micro Devices has an average rating of “Moderate Buy” and a consensus price target of $608.78.

Key Headlines Impacting Advanced Micro Devices

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 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.