Advanced Micro Devices, Inc. $AMD Position Lessened by Commonwealth Equity Services LLC

Key Points

• Commonwealth Equity Services cut its AMD stake by 4.8% in the third quarter, selling 22,042 shares and retaining 435,881 shares valued at about $266.7 million.
• Other institutional investors made mixed moves, while institutional investors and hedge funds collectively own 71.34% of AMD shares.
• AMD beat quarterly earnings and revenue estimates, with revenue up 44.7% year over year. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $633.17.

Commonwealth Equity Services LLC decreased its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 4.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 435,881 shares of the semiconductor manufacturer's stock after selling 22,042 shares during the quarter. Commonwealth Equity Services LLC's holdings in Advanced Micro Devices were worth $266,655,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of AMD. Collaborative Fund Advisors LLC raised its position in shares of Advanced Micro Devices by 37.0% during the third quarter. Collaborative Fund Advisors LLC now owns 2,753 shares of the semiconductor manufacturer's stock worth $1,684,000 after purchasing an additional 743 shares during the period. Chicago Partners Investment Group LLC grew its position in Advanced Micro Devices by 0.8% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 81,064 shares of the semiconductor manufacturer's stock valued at $41,893,000 after purchasing an additional 680 shares during the period. Smallwood Wealth Investment Management LLC grew its position in Advanced Micro Devices by 9.9% in the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 234 shares of the semiconductor manufacturer's stock valued at $143,000 after purchasing an additional 21 shares during the period. 3Chopt Investment Partners LLC increased its stake in Advanced Micro Devices by 14.3% during the 3rd quarter. 3Chopt Investment Partners LLC now owns 3,388 shares of the semiconductor manufacturer's stock valued at $2,073,000 after purchasing an additional 424 shares in the last quarter. Finally, Rakuten Investment Management Inc. bought a new stake in Advanced Micro Devices during the 3rd quarter valued at $281,754,000. Institutional investors and hedge funds own 71.34% of the company's stock.

Key Advanced Micro Devices News

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

• Positive Sentiment: AMD reported record third-quarter revenue, up about 45% year over year, with data-center revenue nearly doubling. Management expects fourth-quarter revenue of roughly $17 billion and has forecast revenue growth above 80% in 2027, reinforcing the potential for AI and data-center demand to drive further gains. Article: Is AMD Stock a Buy as AI Revenue Soars?
• Positive Sentiment: CEO Lisa Su pushed back against concerns about AI spending, arguing that the market is taking a short-term view and reaffirming her confidence in sustained demand for computing power. Article: AMD CEO Lisa Su Calls This Market Moment ‘Short-Sighted’ on AI Spending
• Neutral Sentiment: Some analysts raised their price targets after the results, including DZ Bank to $620 and HSBC to $540; HSBC nevertheless kept a Hold rating, reflecting continued debate over how much growth is already reflected in AMD’s valuation. Article: DZ Bank Adjusts Price Target on Advanced Micro Devices to $620
• Negative Sentiment: The main near-term pressure was a broad chip-sector sell-off following Democratic midterm gains. Investors fear potential AI-industry regulation or slower data-center expansion, and concern about local resistance to data centers added to worries over future AI spending. The sector weakness weighed on AMD despite its earnings beat. Article: Why AMD Stock Is Down Today
• Negative Sentiment: Investors are also questioning AMD’s premium valuation and demanding evidence that its AI products and partnerships will translate into durable profits. Ark Invest’s reported sale of AMD shares in favor of Nvidia added to the competitive and valuation concerns. Article: Cathie Wood Just Sold AMD Stock and Bought This AI Chip Stock Instead

Analysts Set New Price Targets

AMD has been the topic of several research reports. Wolfe Research restated an "outperform" rating and set a $650.00 price objective on shares of Advanced Micro Devices in a report on Wednesday. Stifel Nicolaus lifted their price objective on shares of Advanced Micro Devices from $700.00 to $725.00 and gave the company a "buy" rating in a report on Wednesday. Truist Financial lifted their price objective on shares of Advanced Micro Devices from $594.00 to $605.00 and gave the company a "buy" rating in a report on Wednesday. Morgan Stanley boosted their target price on shares of Advanced Micro Devices from $465.00 to $510.00 and gave the stock an "equal weight" rating in a research report on Monday. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $675.00 target price on shares of Advanced Micro Devices in a report on Wednesday. Three research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $633.17.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Forrest Norrod sold 17,262 shares of the company's stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $540.70, for a total value of $9,333,563.40. Following the completion of the sale, the executive vice president directly owned 353,317 shares of the company's stock, valued at approximately $191,038,501.90. This represents a 4.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark D. Papermaster sold 28,811 shares of the company's 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 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. Over the last 90 days, insiders have sold 231,100 shares of company stock worth $114,867,400. 0.50% of the stock is owned by insiders.

Advanced Micro Devices Trading Down 17.3%

Shares of Advanced Micro Devices stock opened at $404.40 on Friday. The stock has a fifty day simple moving average of $547.37 and a 200 day simple moving average of $413.90. Advanced Micro Devices, Inc. has a 12-month low of $188.22 and a 12-month high of $658.52. The company has a market capitalization of $660.17 billion, a P/E ratio of 87.91, a price-to-earnings-growth ratio of 5.01 and a beta of 2.49. The company has a current ratio of 2.72, a quick ratio of 1.91 and a debt-to-equity ratio of 0.10.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings results on Tuesday, November 3rd. The semiconductor manufacturer reported $2.09 EPS for the quarter, beating analysts' consensus estimates of $1.95 by $0.14. Advanced Micro Devices had a return on equity of 14.15% and a net margin of 16.77%. The business had revenue of $13.38 billion during the quarter, compared to analyst estimates of $13.10 billion. During the same period in the prior year, the firm posted $1.20 EPS. Advanced Micro Devices's quarterly revenue was up 44.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Advanced Micro Devices, Inc. will post 6.50 earnings per share for the current fiscal year.

About Advanced Micro Devices

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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