1,137,476 Advanced Micro Devices, Inc. $AMD Shares Sold by Nan Fung Trinity HK Ltd.

Key Points

• Nan Fung Trinity HK Ltd. cut its AMD position by 94.8% in the third quarter, selling 1,137,476 shares and retaining 62,100 shares valued at about $38 million.
• Other institutions made mixed moves, but several increased their holdings; institutional investors collectively own 71.34% of AMD shares.
• AMD beat quarterly estimates, reporting EPS of $2.09 versus $1.95 expected and revenue of $13.38 billion, up 44.7% year over year. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $640.11.

Nan Fung Trinity HK Ltd. trimmed its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 94.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 62,100 shares of the semiconductor manufacturer's stock after selling 1,137,476 shares during the quarter. Advanced Micro Devices makes up about 3.6% of Nan Fung Trinity HK Ltd.'s investment portfolio, making the stock its 7th largest holding. Nan Fung Trinity HK Ltd.'s holdings in Advanced Micro Devices were worth $37,990,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Southpoint Capital Advisors LP grew its stake in shares of Advanced Micro Devices by 50.0% during the 1st quarter. Southpoint Capital Advisors LP now owns 900,000 shares of the semiconductor manufacturer's stock valued at $183,087,000 after acquiring an additional 300,000 shares during the period. Dimensional Fund Advisors LP increased its holdings in Advanced Micro Devices by 6.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,142,516 shares of the semiconductor manufacturer's stock worth $1,045,954,000 after acquiring an additional 291,165 shares in the last quarter. Ferguson Wellman Capital Management Inc. increased its holdings in Advanced Micro Devices by 6,968.7% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 140,313 shares of the semiconductor manufacturer's stock worth $85,995,000 after acquiring an additional 138,328 shares in the last quarter. Douglas Lane & Associates LLC increased its holdings in Advanced Micro Devices by 2,748.0% in the 3rd quarter. Douglas Lane & Associates LLC now owns 85,952 shares of the semiconductor manufacturer's stock worth $52,582,000 after acquiring an additional 82,934 shares in the last quarter. Finally, Nan Shan Life Insurance Co. Ltd. raised its stake in Advanced Micro Devices by 1,288.6% during the 2nd quarter. Nan Shan Life Insurance Co. Ltd. now owns 220,170 shares of the semiconductor manufacturer's stock worth $127,899,000 after acquiring an additional 204,315 shares during the period. 71.34% of the stock is owned by hedge funds and other institutional investors.

Advanced Micro Devices News Summary

Here's some of the latest news about AMD:

• 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 Buying and Selling

In other Advanced Micro Devices news, EVP Mark Papermaster sold 28,811 shares of the business's stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $471.87, for a total value of $13,595,046.57. Following the sale, the executive vice president owned 1,261,461 shares in the company, valued at $595,245,602.07. The trade was a 2.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Ava Hahn sold 2,993 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $488.69, for a total transaction of $1,462,649.17. Following the transaction, the senior vice president directly owned 26,623 shares of the company's stock, valued at $13,010,393.87. This trade represents a 10.11% 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 a total of 223,588 shares of company stock worth $111,208,302 in the last 90 days. 0.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

AMD has been the topic of several analyst reports. BTIG Research started coverage on shares of Advanced Micro Devices in a report on Thursday. They set a "buy" rating on the stock. Wedbush reiterated an "outperform" rating and issued a $600.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, November 4th. Benchmark increased their price objective on shares of Advanced Micro Devices from $485.00 to $685.00 and gave the stock a "buy" rating in a research note on Wednesday, July 22nd. Royal Bank Of Canada reissued a "sector perform" rating and issued a $540.00 price objective on shares of Advanced Micro Devices in a research note on Thursday. Finally, HSBC restated a "hold" rating and set a $540.00 price objective on shares of Advanced Micro Devices in a research report on Thursday, November 5th. Three 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $640.11.

Advanced Micro Devices Price Performance

AMD stock opened at $585.30 on Friday. Advanced Micro Devices, Inc. has a one year low of $188.22 and a one year high of $658.52. The company's fifty day moving average price is $552.99 and its 200-day moving average price is $420.72. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.93 and a current ratio of 2.72. The company has a market capitalization of $959.94 billion, a PE ratio of 127.24, a price-to-earnings-growth ratio of 5.32 and a beta of 2.49.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its earnings results on Tuesday, November 3rd. The semiconductor manufacturer reported $2.09 earnings per share for the quarter, topping analysts' consensus estimates of $1.95 by $0.14. The firm had revenue of $13.38 billion during the quarter, compared to analyst estimates of $13.10 billion. Advanced Micro Devices had a net margin of 16.77% and a return on equity of 14.15%. Advanced Micro Devices's revenue for the quarter was up 44.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.20 earnings per share. On average, equities analysts anticipate that Advanced Micro Devices, Inc. will post 6.93 EPS for the current fiscal year.

Advanced Micro Devices Company 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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