Advanced Micro Devices, Inc. $AMD Position Lowered by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC trimmed its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 4.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 435,881 shares of the semiconductor manufacturer’s stock after selling 22,042 shares during the period. Commonwealth Equity Services LLC’s holdings in Advanced Micro Devices were worth $266,655,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bank of America Corp DE purchased a new stake in Advanced Micro Devices during the second quarter worth about $7,022,226,000. BlackRock Inc. raised its position in 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 acquiring an additional 4,535,126 shares during the period. Jupiter Topco LLC bought a new stake in Advanced Micro Devices in the second quarter worth about $2,084,651,000. Wellington Management Group LLP boosted its stake in Advanced Micro Devices by 33.9% in the second quarter. Wellington Management Group LLP now owns 9,334,396 shares of the semiconductor manufacturer’s stock valued at $5,422,444,000 after acquiring an additional 2,365,419 shares during the last quarter. Finally, State Street Corp boosted its stake in Advanced Micro Devices by 2.9% in 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. 71.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AMD. Union Gaming Research reissued a “positive” rating on shares of Advanced Micro Devices in a research report on Wednesday. Robert W. Baird set a $1,250.00 price target on shares of Advanced Micro Devices in a research note on Friday, July 24th. Argus lifted their price target on shares of Advanced Micro Devices from $450.00 to $625.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $700.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday. Finally, UBS Group reduced their price objective on Advanced Micro Devices from $730.00 to $700.00 and set a “buy” rating for the company in a report 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $633.17.

Key Headlines 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 Buying and Selling

In related news, EVP Forrest Norrod sold 17,262 shares of the company’s stock in a transaction that occurred 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 sale, 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jean X. Hu sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $474.08, for a total transaction of $7,111,200.00. Following the completion of the transaction, the executive vice president directly owned 160,979 shares of the company’s stock, valued at approximately $76,316,924.32. This trade represents a 8.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 231,100 shares of company stock valued at $114,867,400. Corporate insiders own 0.50% of the company’s stock.

Advanced Micro Devices Trading Down 17.3%

Shares of Advanced Micro Devices stock opened at $404.40 on Friday. Advanced Micro Devices, Inc. has a 52-week low of $188.22 and a 52-week high of $658.52. The stock’s 50-day simple moving average is $547.37 and its 200 day simple moving average is $413.90. The stock has a market capitalization of $660.17 billion, a P/E ratio of 87.91, a P/E/G ratio of 5.01 and a beta of 2.49. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.91 and a current ratio of 2.72.

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 business had revenue of $13.38 billion for the quarter, compared to the consensus estimate of $13.10 billion. Advanced Micro Devices had a net margin of 16.77% and a return on equity of 14.15%. The company’s revenue was up 44.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.20 earnings per share. As a group, 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.