34,781 Advanced Micro Devices, Inc. $AMD Shares Sold by CenterBook Partners LP

Key Points

• CenterBook Partners cut its AMD stake by 95.8% in the third quarter, selling 34,781 shares and retaining 1,540 shares valued at about $942,000.
• Other major institutional investors, including BlackRock and State Street, increased their holdings; institutions and hedge funds collectively owned 71.34% of AMD shares.
• AMD beat third-quarter earnings and revenue estimates, reporting EPS of $2.09 and revenue of $13.38 billion, up 44.7% year over year.

CenterBook Partners LP lessened its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 95.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,540 shares of the semiconductor manufacturer's stock after selling 34,781 shares during the period. CenterBook Partners LP's holdings in Advanced Micro Devices were worth $942,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMD. BlackRock Inc. grew its stake in 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 raised its position in shares of 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 buying an additional 2,149,563 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Advanced Micro Devices in the 2nd quarter valued at approximately $7,022,226,000. Jennison Associates LLC lifted its holdings 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 worth $5,793,388,000 after acquiring an additional 545,575 shares during the period. Finally, Wellington Management Group LLP lifted its holdings 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 worth $5,422,444,000 after acquiring an additional 2,365,419 shares during the period. 71.34% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Advanced Micro Devices

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

• Positive Sentiment: Reports that AMD plans to invest $2.5 billion in Anthropic added to optimism about its AI strategy and commercial ties. The news comes alongside reports that AMD is among companies participating in a broader Anthropic share purchase. Article: Stock Market Today, Nov. 10: AMD Rises on Plan to Invest $2.5 Billion in Anthropic
• Positive Sentiment: AMD’s data-center sales grew 97% in the third quarter, driven by EPYC server CPUs and the MI450 launch. The company sees substantial long-term markets for server CPUs and GPUs, while a new generation of EPYC processors is shipping through server partners. Article: 2 Reasons AMD Can Still Outperform by 2030 Article: AMD Showcases 6th Gen AMD EPYC Processors
• Positive Sentiment: Oppenheimer’s Outperform rating and $600 price target, along with sharply higher earnings estimates from Northland Securities, reinforce expectations for strong growth. Article: Oppenheimer Just Set a Whopping $600 Target on AMD Stock
• Neutral Sentiment: AMD shares have benefited from Nvidia-related uncertainty, but analysts caution that investor money moving between chip stocks is not the same as customers switching suppliers. A lasting gain depends on winning and retaining business. Article: AMD’s Stock Fades as Investors Weigh Whether Nvidia’s Turmoil Will Mean Lasting Wins
• Negative Sentiment: Some coverage flags declining free cash flow and rising inventory as risks. AMD’s rich valuation may leave less room for disappointment if its coming results do not confirm that AI demand is converting into healthy cash generation. Article: Here’s The AMD Data Center Number Investors Need to Know

Advanced Micro Devices Trading Up 1.3%

Shares of Advanced Micro Devices stock opened at $515.21 on Wednesday. The firm's 50 day moving average is $548.56 and its 200 day moving average is $417.58. The firm has a market capitalization of $844.99 billion, a PE ratio of 112.00, a price-to-earnings-growth ratio of 4.90 and a beta of 2.49. Advanced Micro Devices, Inc. has a 1 year low of $188.22 and a 1 year high of $658.52. The company has a current ratio of 2.72, a quick ratio of 1.93 and a debt-to-equity ratio of 0.10.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued 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. Advanced Micro Devices had a net margin of 16.77% and a return on equity of 14.15%. The business had revenue of $13.38 billion during the quarter, compared to the consensus estimate of $13.10 billion. During the same quarter in the prior year, the firm earned $1.20 EPS. The firm's revenue was up 44.7% compared to the same quarter last year. Equities research analysts forecast that Advanced Micro Devices, Inc. will post 6.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Jean X. Hu sold 15,000 shares of Advanced Micro Devices stock in a transaction dated 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 sale, 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. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lisa T. Su sold 70,000 shares of the business's stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $506.80, for a total value of $35,476,000.00. Following the sale, the chief executive officer owned 3,032,156 shares in the company, valued at approximately $1,536,696,660.80. This trade represents a 2.26% decrease in their ownership of the stock. 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 quarter, insiders have sold 230,957 shares of company stock worth $114,799,511. Company insiders own 0.50% of the company's stock.

Analyst Ratings Changes

AMD has been the topic of several analyst reports. TD Cowen reiterated a "buy" rating on shares of Advanced Micro Devices in a research report on Monday, October 19th. 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. Rosenblatt Securities restated a "buy" rating and set a $700.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, November 4th. Royal Bank Of Canada set a $675.00 target price on Advanced Micro Devices in a report on Wednesday, November 4th. Finally, Mizuho decreased their price target on Advanced Micro Devices from $705.00 to $610.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 4th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Advanced Micro Devices presently has an average rating of "Moderate Buy" and an average target price of $642.47.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.