78,813 Advanced Micro Devices, Inc. $AMD Shares Purchased by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp increased its AMD stake by 14.1%, buying 78,813 shares in the third quarter and ending the period with 638,406 shares valued at about $390.6 million.
• AMD beat quarterly earnings and revenue estimates, reporting $2.09 per share and $13.38 billion in revenue; revenue rose 44.7% year over year.
• Analysts gave AMD a “Moderate Buy” consensus rating with an average price target of $642.47. Company insiders sold 230,957 shares worth about $114.8 million over the past 90 days.

Fifth Third Bancorp grew its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 14.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 638,406 shares of the semiconductor manufacturer's stock after purchasing an additional 78,813 shares during the period. Advanced Micro Devices makes up 0.6% of Fifth Third Bancorp's investment portfolio, making the stock its 28th biggest holding. Fifth Third Bancorp's holdings in Advanced Micro Devices were worth $390,551,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in AMD. DecisionPoint Financial LLC increased its position in Advanced Micro Devices by 79.2% in the 3rd quarter. DecisionPoint Financial LLC now owns 43 shares of the semiconductor manufacturer's stock valued at $26,000 after buying an additional 19 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. bought a new position in Advanced Micro Devices in the third quarter worth approximately $29,000. JNBA Financial Advisors boosted its holdings in Advanced Micro Devices by 142.9% in the second quarter. JNBA Financial Advisors now owns 51 shares of the semiconductor manufacturer's stock worth $30,000 after acquiring an additional 30 shares in the last quarter. Downshift Financial LLC boosted its holdings in Advanced Micro Devices by 850.0% in the third quarter. Downshift Financial LLC now owns 57 shares of the semiconductor manufacturer's stock worth $35,000 after acquiring an additional 51 shares in the last quarter. Finally, Sawyer & Company Inc acquired a new stake in Advanced Micro Devices in the third quarter valued at approximately $37,000. Institutional investors own 71.34% of the company's stock.

Insider Activity at Advanced Micro Devices

In related news, EVP Jean X. Hu sold 15,000 shares of the company's stock in a transaction on 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 completion of the sale, the executive vice president owned 160,979 shares in the company, valued at approximately $76,316,924.32. This represents a 8.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Papermaster sold 28,811 shares of the 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 completion of the sale, the executive vice president directly owned 1,261,461 shares of the company's stock, valued at $595,245,602.07. The trade was a 2.23% decrease in their ownership of the stock. 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 have sold 230,957 shares of company stock valued at $114,799,511 over the last 90 days. Corporate insiders own 0.50% of the company's stock.

Advanced Micro Devices Price Performance

AMD stock opened at $552.90 on Thursday. The company has a market capitalization of $906.81 billion, a P/E ratio of 120.20, a price-to-earnings-growth 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. 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 $550.43 and a two-hundred day simple moving average of $419.05.

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, topping the consensus estimate of $1.95 by $0.14. The firm had revenue of $13.38 billion during the quarter, compared to the consensus estimate of $13.10 billion. Advanced Micro Devices had a return on equity of 14.15% and a net margin of 16.77%. The company's quarterly revenue was up 44.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.20 earnings per share. Research analysts expect that Advanced Micro Devices, Inc. will post 6.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Cantor Fitzgerald restated an "overweight" rating and set a $700.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, November 4th. The Goldman Sachs Group reiterated a "buy" rating and issued a $675.00 target price on shares of Advanced Micro Devices in a report on Wednesday, November 4th. Union Gaming Research reiterated a "positive" rating on shares of Advanced Micro Devices in a report on Wednesday, November 4th. CLSA reissued an "outperform" rating and issued a $710.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, September 9th. Finally, Piper Sandler boosted their price target on shares of Advanced Micro Devices from $600.00 to $650.00 and gave the company an "overweight" rating in a research note on Wednesday, November 4th. Three 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 given a Sell rating to the company. Based on data from MarketBeat, Advanced Micro Devices presently has an average rating of "Moderate Buy" and an average target price of $642.47.

Key Headlines Impacting Advanced Micro Devices

Here are a few of the latest headlines 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?
• Positive Sentiment: Anthropic’s claim that its Mythos model got Claude running on AMD chips in roughly three days raised the possibility that AI software could become less dependent on Nvidia’s CUDA platform—potentially broadening AMD’s appeal, though adoption remains to be proven. Anthropic’s Mythos claim and Nvidia’s CUDA moat
• 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

Advanced Micro Devices 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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