Advanced Micro Devices, Inc. $AMD Shares Purchased by King Luther Capital Management Corp

Key Points

• King Luther Capital increased its AMD stake 21.2% in the third quarter, adding 19,039 shares to bring its holdings to 108,991 shares, valued at about $66.7 million.
• Several other institutional investors also increased their positions, while AMD insiders sold 230,957 shares worth about $114.8 million over the last quarter; insider ownership is 0.50%.
• AMD reported quarterly revenue of $13.38 billion and EPS of $2.09, beating analyst expectations, with revenue up 44.7% year over year. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $642.47.

King Luther Capital Management Corp increased its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 21.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 108,991 shares of the semiconductor manufacturer's stock after purchasing an additional 19,039 shares during the period. King Luther Capital Management Corp's holdings in Advanced Micro Devices were worth $66,676,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Southpoint Capital Advisors LP raised its holdings in shares of Advanced Micro Devices by 50.0% during the first quarter. Southpoint Capital Advisors LP now owns 900,000 shares of the semiconductor manufacturer's stock worth $183,087,000 after purchasing an additional 300,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Advanced Micro Devices by 6.0% during the first quarter. Dimensional Fund Advisors LP now owns 5,142,516 shares of the semiconductor manufacturer's stock valued at $1,045,954,000 after purchasing an additional 291,165 shares during the period. Ferguson Wellman Capital Management Inc. boosted its holdings in Advanced Micro Devices by 6,968.7% in the third quarter. Ferguson Wellman Capital Management Inc. now owns 140,313 shares of the semiconductor manufacturer's stock valued at $85,995,000 after purchasing an additional 138,328 shares during the last quarter. Douglas Lane & Associates LLC boosted its holdings in Advanced Micro Devices by 2,748.0% in the third quarter. Douglas Lane & Associates LLC now owns 85,952 shares of the semiconductor manufacturer's stock valued at $52,582,000 after purchasing an additional 82,934 shares during the last quarter. Finally, Nan Shan Life Insurance Co. Ltd. grew its position in Advanced Micro Devices by 1,288.6% during the 2nd quarter. Nan Shan Life Insurance Co. Ltd. now owns 220,170 shares of the semiconductor manufacturer's stock worth $127,899,000 after purchasing an additional 204,315 shares during the period. Hedge funds and other institutional investors own 71.34% of the company's stock.

Insiders Place Their Bets

In related news, EVP Mark D. Papermaster sold 28,811 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president directly owned 1,261,461 shares of the company's stock, valued at approximately $595,245,602.07. This trade represents a 2.23% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jean X. Hu sold 15,000 shares of the 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 transaction, the executive vice president directly owned 160,979 shares of the company's stock, valued at $76,316,924.32. The trade was a 8.52% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 230,957 shares of company stock valued at $114,799,511. 0.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Roth Capital lifted their price objective on Advanced Micro Devices from $500.00 to $650.00 and gave the company a "buy" rating in a research note on Friday, July 24th. Citigroup boosted their price objective on Advanced Micro Devices from $575.00 to $800.00 and gave the company a "buy" rating in a report on Tuesday, October 6th. Rosenblatt Securities restated a "buy" rating and issued a $700.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, November 4th. Mizuho dropped their target price on Advanced Micro Devices from $705.00 to $610.00 and set an "outperform" rating on the stock in a report on Wednesday, November 4th. Finally, Truist Financial lifted their price target on Advanced Micro Devices from $594.00 to $605.00 and gave the company a "buy" rating in a research report on Wednesday, November 4th. Three research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $642.47.

More Advanced Micro Devices News

Investors following AMD have been watching these news items:

• 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
• Negative Sentiment: Investors still face concerns about AMD’s premium valuation, decelerating data-center growth, weaker free cash flow and rising inventory. These factors could limit the rally if expected AI demand does not translate into sustained earnings and cash generation. Lisa Su Just Delivered Fantastic News for AMD Investors

Advanced Micro Devices Stock Up 7.3%

AMD opened at $552.90 on Thursday. The company has a fifty day moving average of $550.43 and a two-hundred day moving average of $419.05. The stock has a market capitalization of $906.81 billion, a price-to-earnings ratio of 120.20, a PEG ratio of 4.96 and a beta of 2.49. Advanced Micro Devices, Inc. has a fifty-two week low of $188.22 and a fifty-two week high of $658.52. 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 (NASDAQ:AMD - Get Free Report) last released its quarterly earnings results on Tuesday, November 3rd. The semiconductor manufacturer reported $2.09 earnings per share for the quarter, topping 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 company had revenue of $13.38 billion during the quarter, compared to analysts' expectations of $13.10 billion. During the same quarter 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, research analysts expect that Advanced Micro Devices, Inc. will post 6.93 earnings per share for the current year.

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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