2,361 Advanced Micro Devices, Inc. $AMD Shares Sold by Mesirow Financial Investment Management Inc.

Key Points

• Mesirow Financial cut its AMD position by 48.7% in the third quarter, selling 2,361 shares and retaining 2,485 shares valued at about $1.52 million.
• AMD beat quarterly expectations, reporting $2.09 in earnings per share versus $1.95 expected and $13.38 billion in revenue versus $13.10 billion expected; revenue grew 44.7% year over year.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $642.47. The article also flags risks including AMD’s premium valuation and concerns about data-center growth, free cash flow, and inventory.

Mesirow Financial Investment Management Inc. decreased its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 48.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,485 shares of the semiconductor manufacturer's stock after selling 2,361 shares during the quarter. Mesirow Financial Investment Management Inc.'s holdings in Advanced Micro Devices were worth $1,520,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of 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 last quarter. State Street Corp increased its position in shares of Advanced Micro Devices by 2.9% during the second quarter. State Street Corp now owns 76,920,783 shares of the semiconductor manufacturer's stock worth $46,606,266,000 after purchasing an additional 2,149,563 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of Advanced Micro Devices during the second quarter worth approximately $7,022,226,000. Jennison Associates LLC increased its position in shares of Advanced Micro Devices by 5.8% during the second quarter. Jennison Associates LLC now owns 9,972,952 shares of the semiconductor manufacturer's stock worth $5,793,388,000 after purchasing an additional 545,575 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in Advanced Micro Devices by 33.9% in 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 purchasing an additional 2,365,419 shares during the last quarter. 71.34% of the stock is owned by hedge funds and other institutional investors.

Advanced Micro Devices Price Performance

NASDAQ:AMD opened at $552.90 on Thursday. Advanced Micro Devices, Inc. has a one year low of $188.22 and a one year high of $658.52. The stock has a market cap of $906.81 billion, a PE ratio of 120.20, a P/E/G ratio of 4.96 and a beta of 2.49. 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 stock has a 50 day moving average price of $550.43 and a 200 day moving average price of $419.05.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings data 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 company had revenue of $13.38 billion for the quarter, compared to analyst estimates of $13.10 billion. Advanced Micro Devices had a return on equity of 14.15% and a net margin of 16.77%. The firm's revenue for the quarter was up 44.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.20 earnings per share. Equities research analysts expect that Advanced Micro Devices, Inc. will post 6.93 EPS for the current fiscal year.

Advanced Micro Devices News Summary

Here's some of the latest news about AMD:

• Positive Sentiment: Google’s selection of AMD’s fifth-generation EPYC processors for its TPU 8tx system, alongside the launch of new EPYC CPUs, reinforced AMD’s opportunity in cloud and AI server workloads. What Is Going on With AMD Stock on Wednesday?
• Neutral Sentiment: AMD held up as technology shares weakened late amid news concerning Nvidia’s CEO. Any longer-term benefit from competitor disruption is uncertain, since customers must make actual supplier changes for AMD to gain lasting business. Techs Tumble Late; AI Stocks Slide, but Not AMD
• Negative Sentiment: Investors still face concerns about AMD’s premium valuation, decelerating data-center growth, weaker free cash flow and rising inventory. These factors could limit the rally if expected AI demand does not translate into sustained earnings and cash generation. Lisa Su Just Delivered Fantastic News for AMD Investors

Insiders Place Their Bets

In other news, SVP Ava Hahn sold 2,993 shares of Advanced Micro Devices stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $488.69, for a total transaction of $1,462,649.17. Following the transaction, the senior vice president owned 26,623 shares in the company, valued at $13,010,393.87. The trade was a 10.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 on Thursday, October 15th. The stock was sold at an average price of $540.70, for a total value of $9,333,563.40. Following the transaction, the executive vice president owned 353,317 shares in the company, valued at approximately $191,038,501.90. This represents a 4.66% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 230,957 shares of company stock worth $114,799,511. 0.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on AMD shares. Susquehanna lifted their target price on shares of Advanced Micro Devices from $620.00 to $650.00 and gave the stock a "positive" rating in a research note on Wednesday, October 28th. Union Gaming Research reaffirmed a "positive" rating on shares of Advanced Micro Devices in a report on Wednesday, November 4th. Stifel Nicolaus increased their target price on shares of Advanced Micro Devices from $700.00 to $725.00 and gave the company a "buy" rating in a research report on Wednesday, November 4th. Zacks Research downgraded shares of Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 1st. Finally, KeyCorp restated an "overweight" rating and set a $725.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, November 4th. Three analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $642.47.

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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