Advanced Micro Devices, Inc. $AMD Position Cut by International Assets Investment Management LLC

Key Points

• International Assets Investment Management cut its AMD stake by 93.1% in the third quarter, selling 29,316 shares and retaining 2,181 shares valued at $1.334 million.
• Analysts maintain a Moderate Buy consensus, with an average price target of $608.78; ratings include 34 Buy or Strong Buy recommendations.
• AMD beat quarterly earnings and revenue estimates, reporting $2.09 per share and $13.38 billion in revenue, and forecast roughly $17 billion in fourth-quarter revenue.

International Assets Investment Management LLC trimmed its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 93.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,181 shares of the semiconductor manufacturer's stock after selling 29,316 shares during the quarter. International Assets Investment Management LLC's holdings in Advanced Micro Devices were worth $1,334,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMD. DecisionPoint Financial LLC boosted its stake in shares of 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 purchasing an additional 19 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. acquired a new position in Advanced Micro Devices in the third quarter valued at approximately $29,000. JNBA Financial Advisors lifted 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 valued at $30,000 after buying an additional 30 shares during the period. Graney & King LLC bought a new position in Advanced Micro Devices in the first quarter valued at approximately $31,000. Finally, Main Street Group LTD bought a new position in Advanced Micro Devices in the first quarter valued at approximately $33,000. 71.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AMD. Citigroup lifted their target price on shares of Advanced Micro Devices from $575.00 to $800.00 and gave the stock a "buy" rating in a report on Tuesday, October 6th. UBS Group restated an "overweight" rating on shares of Advanced Micro Devices in a research report on Friday, July 24th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $540.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, August 5th. Rosenblatt Securities reaffirmed a "buy" rating and set a $700.00 price objective on shares of Advanced Micro Devices in a research note on Tuesday, September 29th. Finally, JPMorgan Chase & Co. upped their price objective on Advanced Micro Devices from $385.00 to $550.00 and gave the company a "neutral" rating in a report on Wednesday, August 5th. Three research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $608.78.

Insider Transactions at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 28,811 shares of Advanced Micro Devices stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $471.87, for a total transaction of $13,595,046.57. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 that occurred on Thursday, September 10th. The shares were sold at an average price of $506.80, for a total value of $35,476,000.00. Following the completion of the transaction, the chief executive officer owned 3,032,156 shares of the company's stock, valued at $1,536,696,660.80. This represents a 2.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 231,100 shares of company stock valued at $114,867,400. Insiders own 0.50% of the company's stock.

Advanced Micro Devices Price Performance

Shares of AMD stock opened at $483.90 on Wednesday. The company has a quick ratio of 1.91, a current ratio of 2.61 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a 12-month low of $188.22 and a 12-month high of $658.52. The firm has a fifty day moving average of $548.70 and a 200-day moving average of $411.73. The firm has a market capitalization of $789.95 billion, a price-to-earnings ratio of 124.40, a price-to-earnings-growth ratio of 4.79 and a beta of 2.49.

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 business had revenue of $13.38 billion for the quarter, compared to the consensus estimate of $13.10 billion. Advanced Micro Devices had a return on equity of 12.30% and a net margin of 15.58%. The firm's revenue was up 44.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.20 EPS. On average, equities research analysts forecast that Advanced Micro Devices, Inc. will post 6.50 earnings per share for the current year.

Key Advanced Micro Devices News

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

• Positive Sentiment: AMD reported record Q3 revenue of $13.38 billion and earnings of $2.09 per share, beating analyst estimates. Data-center revenue rose 97% year over year to $8.55 billion, driven by sales of Instinct GPUs and EPYC processors. CNBC earnings report
• Positive Sentiment: The company forecast roughly $17 billion in Q4 revenue, above expectations, implying a sharp sequential increase and about 66% year-over-year growth. The guidance reinforced confidence that AI-chip demand and data-center expansion are accelerating. Reuters outlook coverage
• Neutral Sentiment: Management described the quarter as the company’s largest and most profitable, while coverage also noted mixed performance outside data center, including in gaming, client and embedded businesses. Yahoo Finance interview
• Negative Sentiment: Investors may remain alert to the cost of scaling AI growth: commentary flagged a roughly $3 billion inventory build and sharply weaker free cash flow. AMD’s high valuation also leaves the stock vulnerable if future growth fails to meet elevated expectations. Barchart analysis

Advanced Micro Devices Profile

Advanced Micro Devices, Inc NASDAQ: AMD is a global semiconductor company that designs high-performance computing, graphics and adaptive computing products. Its offerings serve data centers, personal computers, gaming systems, embedded markets and other specialized applications.

AMD's product portfolio includes Ryzen processors for desktop and notebook computers, EPYC server processors, Radeon graphics processing units, and Instinct accelerators for artificial intelligence and high-performance computing.

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