New York Life Investment Management LLC lifted its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD – Free Report) by 13.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 276,188 shares of the semiconductor manufacturer’s stock after purchasing an additional 33,729 shares during the period. Advanced Micro Devices comprises 1.1% of New York Life Investment Management LLC’s investment portfolio, making the stock its 19th largest holding. New York Life Investment Management LLC’s holdings in Advanced Micro Devices were worth $168,961,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. increased its position 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 acquiring an additional 4,535,126 shares during the period. State Street Corp raised its stake 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 valued at $46,606,266,000 after acquiring an additional 2,149,563 shares during the last quarter. Bank of America Corp DE bought a new position in shares of Advanced Micro Devices during the second quarter valued at $7,022,226,000. Jennison Associates LLC lifted its holdings in shares of Advanced Micro Devices by 5.8% during the second quarter. Jennison Associates LLC now owns 9,972,952 shares of the semiconductor manufacturer’s stock worth $5,793,388,000 after purchasing an additional 545,575 shares during the period. Finally, Wellington Management Group LLP lifted its holdings 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 purchasing an additional 2,365,419 shares during the period. 71.34% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the stock. BMO Capital Markets started 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 on the stock. Stifel Nicolaus increased their price objective on Advanced Micro Devices from $700.00 to $725.00 and gave the company a “buy” rating in a report on Wednesday, November 4th. Citigroup raised their target price on Advanced Micro Devices from $575.00 to $800.00 and gave the stock a “buy” rating in a research report on Tuesday, October 6th. Wedbush reaffirmed an “outperform” rating and set a $600.00 target price on shares of Advanced Micro Devices in a report on Wednesday, November 4th. Finally, Morgan Stanley upped their price target on Advanced Micro Devices from $465.00 to $510.00 and gave the company an “equal weight” rating in a research report on Monday, November 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $642.47.
Get Our Latest Stock Analysis on Advanced Micro Devices
Advanced Micro Devices Stock Up 1.3%
Advanced Micro Devices stock opened at $515.21 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.93 and a current ratio of 2.72. Advanced Micro Devices, Inc. has a 52-week low of $188.22 and a 52-week high of $658.52. The firm has a 50 day moving average price of $548.56 and a two-hundred day moving average price of $417.58. The firm has a market cap of $844.99 billion, a price-to-earnings ratio of 112.00, a PEG ratio of 4.90 and a beta of 2.49.
Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last issued its quarterly earnings results on Tuesday, November 3rd. The semiconductor manufacturer reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.14. Advanced Micro Devices had a net margin of 16.77% and a return on equity of 14.15%. The firm had revenue of $13.38 billion for the quarter, compared to the consensus estimate of $13.10 billion. During the same quarter in the previous year, the company earned $1.20 EPS. The company’s revenue for the quarter was up 44.7% on a year-over-year basis. Equities analysts predict that Advanced Micro Devices, Inc. will post 6.93 EPS for the current year.
Trending Headlines about Advanced Micro Devices
Here are the key news stories impacting Advanced Micro Devices this week:
- Positive Sentiment: Reports that AMD plans to invest $2.5 billion in Anthropic added to optimism about its AI strategy and commercial ties. The news comes alongside reports that AMD is among companies participating in a broader Anthropic share purchase. Article: Stock Market Today, Nov. 10: AMD Rises on Plan to Invest $2.5 Billion in Anthropic
- Positive Sentiment: AMD’s data-center sales grew 97% in the third quarter, driven by EPYC server CPUs and the MI450 launch. The company sees substantial long-term markets for server CPUs and GPUs, while a new generation of EPYC processors is shipping through server partners. Article: 2 Reasons AMD Can Still Outperform by 2030 Article: AMD Showcases 6th Gen AMD EPYC Processors
- Positive Sentiment: Oppenheimer’s Outperform rating and $600 price target, along with sharply higher earnings estimates from Northland Securities, reinforce expectations for strong growth. Article: Oppenheimer Just Set a Whopping $600 Target on AMD Stock
- Neutral Sentiment: AMD shares have benefited from Nvidia-related uncertainty, but analysts caution that investor money moving between chip stocks is not the same as customers switching suppliers. A lasting gain depends on winning and retaining business. Article: AMD’s Stock Fades as Investors Weigh Whether Nvidia’s Turmoil Will Mean Lasting Wins
- Negative Sentiment: Some coverage flags declining free cash flow and rising inventory as risks. AMD’s rich valuation may leave less room for disappointment if its coming results do not confirm that AI demand is converting into healthy cash generation. Article: Here’s The AMD Data Center Number Investors Need to Know
Insider Buying and Selling at Advanced Micro Devices
In related news, EVP Paul Grasby sold 15,000 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $514.91, for a total value of $7,723,650.00. Following the transaction, the executive vice president owned 117,687 shares in the company, valued at $60,598,213.17. The trade was a 11.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Lisa Su sold 70,000 shares of the business’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 completion of the transaction, the chief executive officer owned 3,032,156 shares in the company, valued at approximately $1,536,696,660.80. The trade was a 2.26% 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. Insiders have sold 230,957 shares of company stock valued at $114,799,511 over the last three months. 0.50% of the stock is currently owned by corporate insiders.
Advanced Micro Devices 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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