Abner Herrman & Brock LLC Reduces Stake in Advanced Micro Devices, Inc. $AMD

Key Points

• Abner Herrman & Brock LLC cut its AMD stake by 5% in the second quarter, selling 6,621 shares and retaining 124,700 shares valued at approximately $72.4 million. AMD remains the firm’s second-largest portfolio position and represents 6.9% of its holdings.
• AMD reported quarterly earnings of $1.66 per share on $11.54 billion in revenue, exceeding analyst expectations and marking 50.1% year-over-year revenue growth. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $546.87.
• Insiders sold approximately 285,934 AMD shares worth $130.4 million over the past 90 days, while the stock traded near $483.36 and carried a high valuation of about 124 times earnings. Institutional investors collectively own 71.34% of the company.

Abner Herrman & Brock LLC lowered its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 5.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 124,700 shares of the semiconductor manufacturer's stock after selling 6,621 shares during the quarter. Advanced Micro Devices makes up 6.9% of Abner Herrman & Brock LLC's portfolio, making the stock its 2nd biggest position. Abner Herrman & Brock LLC's holdings in Advanced Micro Devices were worth $72,440,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of AMD. Clal Insurance Enterprises Holdings Ltd grew its holdings in Advanced Micro Devices by 12.8% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 212 shares of the semiconductor manufacturer's stock valued at $43,000 after purchasing an additional 24 shares in the last quarter. Trust Co of the South increased its holdings in shares of Advanced Micro Devices by 1.5% in the 2nd quarter. Trust Co of the South now owns 1,746 shares of the semiconductor manufacturer's stock worth $1,014,000 after acquiring an additional 25 shares during the period. Arlington Trust Co LLC raised its stake in Advanced Micro Devices by 3.3% during the 2nd quarter. Arlington Trust Co LLC now owns 915 shares of the semiconductor manufacturer's stock valued at $532,000 after acquiring an additional 29 shares in the last quarter. CLG LLC increased its holdings in shares of Advanced Micro Devices by 3.1% during the first quarter. CLG LLC now owns 1,008 shares of the semiconductor manufacturer's stock valued at $205,000 after purchasing an additional 30 shares during the period. Finally, Columbia Bank lifted its position in Advanced Micro Devices by 0.7% in the first quarter. Columbia Bank now owns 5,188 shares of the semiconductor manufacturer's stock worth $1,055,000 after purchasing an additional 34 shares during the period. Hedge funds and other institutional investors own 71.34% of the company's stock.

Analysts Set New Price Targets

AMD has been the subject of several analyst reports. Mizuho upped their target price on Advanced Micro Devices from $615.00 to $625.00 and gave the company an "outperform" rating in a report on Monday, July 27th. Zacks Research upgraded Advanced Micro Devices from a "hold" rating to a "strong-buy" rating in a report on Monday, August 3rd. Weiss Ratings reiterated a "hold (c+)" rating on shares of Advanced Micro Devices in a report on Monday. Loop Capital upgraded Advanced Micro Devices to a "strong-buy" rating in a report on Tuesday, June 16th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Advanced Micro Devices from $385.00 to $550.00 and gave the stock a "neutral" rating in a report on Wednesday. Three research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $546.87.

Insider Activity

In related news, Director Nora Denzel sold 8,626 shares of the company's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $522.00, for a total transaction of $4,502,772.00. Following the completion of the sale, the director directly owned 87,173 shares in the company, valued at $45,504,306. This represents a 9.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark D. Papermaster sold 6,000 shares of Advanced Micro Devices stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $536.33, for a total value of $3,217,980.00. Following the completion of the transaction, the executive vice president owned 1,233,687 shares in the company, valued at approximately $661,663,348.71. This represents a 0.48% 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. In the last 90 days, insiders sold 285,934 shares of company stock worth $130,353,006. Insiders own 0.50% of the company's stock.

Advanced Micro Devices Stock Performance

AMD stock opened at $483.36 on Friday. The company has a current ratio of 2.61, a quick ratio of 1.96 and a debt-to-equity ratio of 0.03. The firm has a market cap of $789.07 billion, a PE ratio of 124.26 and a beta of 2.48. The business's 50-day moving average price is $514.56 and its two-hundred day moving average price is $359.10. Advanced Micro Devices, Inc. has a 1-year low of $149.22 and a 1-year high of $584.73.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The semiconductor manufacturer reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.04. The company had revenue of $11.54 billion during the quarter, compared to analysts' expectations of $11.31 billion. Advanced Micro Devices had a return on equity of 12.30% and a net margin of 15.58%.Advanced Micro Devices's revenue for the quarter was up 50.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.48 EPS. As a group, research analysts forecast that Advanced Micro Devices, Inc. will post 6.34 earnings per share for the current year.

Trending Headlines about Advanced Micro Devices

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

• Positive Sentiment: AMD agreed to acquire Toronto-based AI-inference chip startup Taalas for an undisclosed amount. Taalas develops specialized silicon designed to reduce computing and memory bottlenecks, and AMD plans to integrate the technology with its Instinct GPUs. The deal could improve AMD’s inference performance and strengthen its challenge to Nvidia in a rapidly expanding market. AMD deepens AI inference bet with Taalas deal as chip race heats up
• Positive Sentiment: AMD reported record second-quarter revenue of $11.54 billion, up 50.1% year over year, and adjusted earnings of $1.66 per share, exceeding consensus estimates. Data Center revenue more than doubled, while management raised its outlook, reinforcing the long-term AI growth case. AMD tops Q2 earnings estimates and provides strong outlook
• Positive Sentiment: Several analysts remain constructive: Rosenblatt raised its price target to $700 with a buy rating, while JPMorgan lifted its target to $550 but retained a neutral rating. Recent institutional filings also showed sizable increases in AMD holdings by PNC Financial and GF Fund Management. AMD analyst price-target changes
• Neutral Sentiment: Investors continue to debate whether AMD can become a major Nvidia alternative. Optimistic views point to data-center demand, AI deployments and supply leverage, but the stock’s high valuation means additional upside likely requires sustained execution and accelerating growth. This Could Be One of the Best Opportunities to Buy AMD Stock in Months
• Negative Sentiment: AMD’s results and guidance, although strong, did not clear an exceptionally high AI-growth bar. Investors wanted stronger evidence of accelerating AI revenue, higher margins and a faster path to closing Nvidia’s competitive lead. Why AMD’s solid quarterly earnings failed to impress investors
• Negative Sentiment: Near-term concerns include slowing growth in AMD’s client and gaming businesses and intensifying Nvidia competition. SpaceX’s selection of Nvidia rather than AMD for an AI-chip partnership further underscored concerns about Nvidia’s customer and ecosystem advantages. AMD stock falls after record quarter as SpaceX picks Nvidia
• Negative Sentiment: At roughly 124 times earnings, AMD leaves little room for disappointment. The combination of lofty expectations, post-earnings profit-taking and increased short interest contributed to the weaker investor reaction despite the earnings beat. AMD short volume hits a two-week high

Advanced Micro Devices Profile

Advanced Micro Devices, Inc NASDAQ: AMD is a global semiconductor company that designs and sells microprocessors, graphics processors, chipsets and adaptive computing solutions for a broad set of markets. The company's product portfolio includes consumer and commercial CPUs under the Ryzen and Threadripper brands, data center processors under the EPYC brand, and Radeon graphics processing units for gaming and professional visualization. AMD also offers semi-custom system-on-chip (SoC) products for gaming consoles and other specialized applications, and provides supporting software and platform technologies for OEMs, cloud service providers and end users.

Founded in 1969, AMD has evolved from a supplier of logic chips into a diversified, fabless semiconductor designer.

Want to see what other hedge funds are holding AMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source