Advanced Micro Devices, Inc. $AMD Stock: Nan Fung Trinity HK Ltd. Lowers Stake

Nan Fung Trinity HK Ltd. cut its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 94.8% in the third quarter, HoldingsChannel reports. The firm owned 62,100 shares of the semiconductor manufacturer’s stock after selling 1,137,476 shares during the quarter. Advanced Micro Devices accounts for 3.6% of Nan Fung Trinity HK Ltd.’s portfolio, making the stock its 7th largest position. Nan Fung Trinity HK Ltd.’s holdings in Advanced Micro Devices were worth $37,990,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. DecisionPoint Financial LLC raised its stake in Advanced Micro Devices by 79.2% during the third quarter. DecisionPoint Financial LLC now owns 43 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 19 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. bought a new position in Advanced Micro Devices during the third quarter valued at $29,000. JNBA Financial Advisors grew its stake in shares of Advanced Micro Devices by 142.9% in the 2nd quarter. JNBA Financial Advisors now owns 51 shares of the semiconductor manufacturer’s stock worth $30,000 after buying an additional 30 shares in the last quarter. Downshift Financial LLC grew its stake in shares of Advanced Micro Devices by 850.0% in the 3rd quarter. Downshift Financial LLC now owns 57 shares of the semiconductor manufacturer’s stock worth $35,000 after buying an additional 51 shares in the last quarter. Finally, Sawyer & Company Inc purchased a new position in shares of Advanced Micro Devices in the 3rd quarter worth $37,000. 71.34% of the stock is owned by hedge funds and other institutional investors.

Advanced Micro Devices Stock Up 5.9%

NASDAQ AMD opened at $585.30 on Friday. The company has a quick ratio of 1.93, a current ratio of 2.72 and a debt-to-equity ratio of 0.10. The company has a fifty day moving average of $552.99 and a two-hundred day moving average of $420.72. The firm has a market capitalization of $959.94 billion, a price-to-earnings ratio of 127.24, a PEG ratio of 5.32 and a beta of 2.49. Advanced Micro Devices, Inc. has a 52 week low of $188.22 and a 52 week high of $658.52.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, November 3rd. The semiconductor manufacturer reported $2.09 earnings per share for the quarter, beating 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 business had revenue of $13.38 billion for the quarter, compared to analysts’ expectations of $13.10 billion. During the same quarter in the previous year, the business posted $1.20 earnings per share. The business’s revenue was up 44.7% compared to the same quarter last year. On average, analysts predict that Advanced Micro Devices, Inc. will post 6.93 earnings per share for the current year.

Latest Advanced Micro Devices News

Investors following AMD have been watching these news items:

• Positive Sentiment: Bank of America raised its price target to $700 from $650 and maintained a Buy rating, citing AMD’s roadmap; William Blair also upgraded the stock to Outperform. Bank of America revises AMD target
• Positive Sentiment: AMD introduced its Instinct MI450X data-center GPU, broadening its AI chip offering. The company also expanded its PsiQuantum partnership and plans to invest in the quantum-computing firm, a longer-term opportunity. AMD unveils new AI GPU AMD PsiQuantum investment
• Neutral Sentiment: The competitive opening is not assured: Nvidia retains a substantial data-center position, and uncertainty at a rival does not itself guarantee AMD wins orders.

Insider Activity

In related news, CEO Lisa Su sold 70,000 shares of Advanced Micro Devices stock in a transaction dated 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 directly owned 3,032,156 shares of the company’s stock, valued at approximately $1,536,696,660.80. The trade was a 2.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jean X. Hu sold 15,000 shares of the company’s stock in a transaction dated 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 in the company, valued at $76,316,924.32. The trade was a 8.52% decrease in their ownership of the stock. 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 sold 223,588 shares of company stock worth $111,208,302 in the last 90 days. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

AMD has been the topic of a number of research reports. CLSA restated an “outperform” rating and issued a $710.00 target price on shares of Advanced Micro Devices in a report on Wednesday, September 9th. UBS Group lowered their price target on shares of Advanced Micro Devices from $730.00 to $700.00 and set a “buy” rating for the company in a report on Wednesday, November 4th. Sanford C. Bernstein lowered Advanced Micro Devices from an “outperform” rating to a “market perform” rating in a research report on Thursday. Wells Fargo & Company dropped their price target on Advanced Micro Devices from $700.00 to $650.00 and set an “overweight” rating for the company in a research report on Wednesday, November 4th. Finally, Wolfe Research reissued an “outperform” rating and set a $650.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, November 4th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $640.11.

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.