Advanced Micro Devices, Inc. $AMD Shares Bought by Allworth Financial LP

Key Points

• Allworth Financial increased its AMD stake by 14.7% in the third quarter, adding 14,093 shares to reach 109,707 shares valued at about $63.7 million. Institutional investors collectively own 71.34% of AMD.
• AMD reported quarterly earnings of $2.09 per share, beating estimates of $1.95, while revenue of $13.38 billion exceeded forecasts and rose 44.7% year over year.
• Analyst views are mixed: AMD has a “Moderate Buy” consensus and an average price target of $640.11, while company insiders sold 223,588 shares worth about $111.2 million over the past three months.

Allworth Financial LP raised its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 14.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 109,707 shares of the semiconductor manufacturer's stock after buying an additional 14,093 shares during the period. Allworth Financial LP's holdings in Advanced Micro Devices were worth $63,730,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. DecisionPoint Financial LLC increased its stake in shares of Advanced Micro Devices by 79.2% during the third quarter. DecisionPoint Financial LLC now owns 43 shares of the semiconductor manufacturer's stock valued at $26,000 after acquiring an additional 19 shares during the period. MJT & Associates Financial Advisory Group Inc. bought a new stake in Advanced Micro Devices during the third quarter worth approximately $29,000. JNBA Financial Advisors lifted its position 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 purchasing an additional 30 shares during the period. Downshift Financial LLC lifted its position 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 purchasing an additional 51 shares during the period. Finally, Sawyer & Company Inc bought a new position in Advanced Micro Devices during the 3rd quarter valued at $37,000. Institutional investors and hedge funds own 71.34% of the company's stock.

Advanced Micro Devices Stock Up 5.9%

Shares of Advanced Micro Devices stock opened at $585.30 on Friday. The stock's fifty day moving average is $552.99 and its 200-day moving average is $420.72. The firm has a market capitalization of $959.94 billion, a PE ratio of 98.21, a price-to-earnings-growth ratio of 5.32 and a beta of 2.49. The company has a quick ratio of 1.93, a current ratio of 2.72 and a debt-to-equity ratio of 0.10. Advanced Micro Devices, Inc. has a 12-month low of $188.22 and a 12-month high of $658.52.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its earnings results 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 company had revenue of $13.38 billion during the quarter, compared to analysts' expectations of $13.10 billion. Advanced Micro Devices had a net margin of 16.77% and a return on equity of 14.15%. The business's revenue for the quarter was up 44.7% on a year-over-year basis. During the same period last year, the company posted $1.20 earnings per share. Equities analysts anticipate that Advanced Micro Devices, Inc. will post 6.93 earnings per share for the current year.

Insider Buying and Selling at Advanced Micro Devices

In related news, EVP Jean X. Hu sold 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $474.08, for a total value of $7,111,200.00. Following the completion of the transaction, the executive vice president 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Forrest Norrod sold 17,262 shares of Advanced Micro Devices stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $540.70, for a total transaction of $9,333,563.40. Following the transaction, the executive vice president owned 353,317 shares in the company, valued at approximately $191,038,501.90. The trade was a 4.66% 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. Insiders have sold 223,588 shares of company stock valued at $111,208,302 over the last three months. 0.50% of the stock is owned by insiders.

More Advanced Micro Devices News

These are some of the AMD news items that stood out recently:

• Positive Sentiment: Bank of America raised its price target to $700 from $650 and maintained a Buy rating, citing AMD’s roadmap; William Blair also upgraded the stock to Outperform. Bank of America revises AMD target
• Positive Sentiment: Reports of Nvidia CEO Jensen Huang’s resignation and the ensuing uncertainty prompted investors to rotate toward rival chipmakers, potentially giving AMD an opportunity to capture market share. Nvidia turmoil and AMD
• Neutral Sentiment: The competitive opening is not assured: Nvidia retains a substantial data-center position, and uncertainty at a rival does not itself guarantee AMD wins orders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AMD. CLSA reaffirmed an "outperform" rating and set a $710.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, September 9th. Wells Fargo & Company lowered their target price on Advanced Micro Devices from $700.00 to $650.00 and set an "overweight" rating on the stock in a report on Wednesday, November 4th. Citigroup cut shares of Advanced Micro Devices from a "buy" rating to an "underperform" rating in a research report on Thursday. Piper Sandler downgraded shares of Advanced Micro Devices from an "overweight" rating to a "neutral" rating in a report on Thursday. Finally, Wedbush reissued an "outperform" rating and issued a $600.00 price target on shares of Advanced Micro Devices in a report on Wednesday, November 4th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $640.11.

Advanced Micro Devices Company 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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