3,555 Advanced Micro Devices, Inc. $AMD Shares Bought by Kestra Investment Management LLC

Kestra Investment Management LLC lifted its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 76.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,191 shares of the semiconductor manufacturer’s stock after acquiring an additional 3,555 shares during the quarter. Kestra Investment Management LLC’s holdings in Advanced Micro Devices were worth $5,011,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. 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. 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. Bank of America Corp DE purchased a new position in Advanced Micro Devices in the second quarter valued at about $7,022,226,000. Jennison Associates LLC grew its position in shares of Advanced Micro Devices by 5.8% during 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 during the period. Finally, Wellington Management Group LLP grew its position in shares of 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 valued at $5,422,444,000 after acquiring an additional 2,365,419 shares during the period. 71.34% of the stock is currently owned by institutional investors.

Advanced Micro Devices News Roundup

Here are the key news stories impacting Advanced Micro Devices this week:

• Positive Sentiment: Google Cloud is using AMD’s 5th Gen EPYC processors for host infrastructure supporting its TPU 8tx system. The deal expands AMD’s role in large-scale AI infrastructure, although it is a CPU infrastructure win rather than a selection of AMD’s AI accelerators. AMD announcement on Google Cloud
• Positive Sentiment: Oppenheimer upgraded AMD to Outperform and set a $600 price target, citing accelerating sales and forecasting 135% data-center revenue growth next year. The call helped bolster confidence in AMD’s AI growth outlook. CNBC report on Oppenheimer upgrade
• Positive Sentiment: Recent quarterly results provided additional support: revenue rose 45% year over year, with data-center revenue up 97%, and management expects revenue growth to accelerate. A broader technology-sector rally also helped lift sentiment. Quarterly results and outlook
• Neutral Sentiment: AMD also benefited as investors looked for alternatives amid pressure on Nvidia, though analysts noted that chipmakers could face increased scrutiny of sales practices. MarketWatch analysis
• Negative Sentiment: A reported Radeon GPU bug affecting SSD lifespan is a product concern, although it did not prevent the rally. Commentary also flagged elevated valuation and rising inventory as risks to sustaining gains. TipRanks report on Radeon GPU bug

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on AMD shares. Raymond James Financial restated a “strong-buy” rating and set a $649.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, November 4th. KeyCorp reiterated an “overweight” rating and issued a $725.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, November 4th. DA Davidson upped their price objective on Advanced Micro Devices from $550.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, November 4th. Melius Research set a $650.00 price objective on Advanced Micro Devices in a report on Wednesday, November 4th. Finally, Wedbush reissued an “outperform” rating and issued a $600.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, November 4th. Three research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $642.47.

Advanced Micro Devices Stock Up 13.3%

Shares of NASDAQ AMD opened at $508.58 on Tuesday. Advanced Micro Devices, Inc. has a 52 week low of $188.22 and a 52 week high of $658.52. The business has a 50-day simple moving average of $547.67 and a two-hundred day simple moving average of $416.28. The company has a quick ratio of 1.91, a current ratio of 2.72 and a debt-to-equity ratio of 0.10. The company has a market cap of $830.24 billion, a P/E ratio of 110.56, a P/E/G ratio of 5.01 and a beta of 2.49.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results 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 return on equity of 14.15% and a net margin of 16.77%. The business had revenue of $13.38 billion during the quarter, compared to analyst estimates of $13.10 billion. During the same quarter in the previous year, the firm earned $1.20 EPS. The company’s quarterly revenue was up 44.7% compared to the same quarter last year. Research analysts anticipate that Advanced Micro Devices, Inc. will post 6.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Forrest Norrod sold 17,262 shares of the business’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 completion of the transaction, the executive vice president owned 353,317 shares of the company’s stock, valued at approximately $191,038,501.90. The trade was a 4.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 Mark Papermaster sold 28,811 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $471.87, for a total transaction of $13,595,046.57. Following the transaction, the executive vice president directly owned 1,261,461 shares of the company’s stock, valued at approximately $595,245,602.07. This represents a 2.23% decrease in their position. 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. Insiders sold 230,957 shares of company stock valued at $114,799,511 in the last three months. Insiders own 0.50% of the company’s stock.

About Advanced Micro Devices

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.