Advanced Micro Devices, Inc. $AMD Stock Position Boosted by Cornerstone Advisors LLC

Cornerstone Advisors LLC raised its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 7.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 87,758 shares of the semiconductor manufacturer’s stock after purchasing an additional 6,293 shares during the quarter. Advanced Micro Devices accounts for approximately 1.8% of Cornerstone Advisors LLC’s holdings, making the stock its 12th largest holding. Cornerstone Advisors LLC’s holdings in Advanced Micro Devices were worth $53,687,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. 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 lifted its stake 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 acquiring an additional 2,149,563 shares in 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. 71.34% of the stock is currently owned by institutional investors.

Recent Advanced Micro Devices Headlines

Investors following AMD have been watching these headlines:

• Positive Sentiment: Google’s selection of AMD EPYC processors for infrastructure supporting its next-generation TPU chips strengthens AMD’s role in hyperscaler AI systems and could support data-center growth. How to Play AMD Stock as Google Picks EPYC for Its Next-Gen TPUs
• Negative Sentiment: Chip stocks sold off as investors reassessed whether Nvidia’s turmoil would benefit competitors or signal wider risks to the AI trade. AMD’s decline also reflected profit-taking after a sharp rally; its elevated valuation may make the stock more vulnerable to sentiment shifts. AMD and other chip stocks slide as Wall Street rethinks the AI trade
• Neutral Sentiment: Director Nora Denzel disclosed a sale of 9,000 AMD shares. The transaction is a modest insider sale and does not by itself establish a change in the company’s outlook. SEC filing

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on AMD shares. UBS Group decreased 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 research note on Wednesday, November 4th. BTIG Research initiated coverage on shares of Advanced Micro Devices in a research report on Thursday. They issued a “buy” rating on the stock. Jefferies Financial Group restated a “buy” rating on shares of Advanced Micro Devices in a report on Thursday, October 29th. Rosenblatt Securities restated a “buy” rating and set a $700.00 target price on shares of Advanced Micro Devices in a report on Wednesday, November 4th. Finally, Sanford C. Bernstein downgraded shares of Advanced Micro Devices from an “outperform” rating to a “market perform” rating in a research report on Thursday. Three research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $640.11.

Advanced Micro Devices Stock Down 8.8%

AMD stock opened at $534.06 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 business has a 50 day moving average price of $554.55 and a two-hundred day moving average price of $422.13. The company has a market cap of $875.90 billion, a price-to-earnings ratio of 116.10, a P/E/G ratio of 5.63 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.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data 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 return on equity of 14.15% and a net margin of 16.77%. The company had revenue of $13.38 billion for the quarter, compared to analysts’ expectations of $13.10 billion. During the same quarter in the prior year, the business posted $1.20 EPS. The business’s revenue was up 44.7% compared to the same quarter last year. Analysts anticipate that Advanced Micro Devices, Inc. will post 6.93 EPS for the current fiscal year.

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 Advanced Micro Devices stock in a transaction dated 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 directly owned 353,317 shares of the company’s stock, valued at approximately $191,038,501.90. This trade represents a 4.66% 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 232,588 shares of company stock valued at $116,292,222 in the last 90 days. Company 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.