Advanced Micro Devices, Inc. $AMD Shares Sold by Cidel Asset Management Inc.

Key Points

• Cidel Asset Management reduced its AMD position by 38.5% in the second quarter, selling 21,579 shares and retaining 34,494 shares valued at approximately $20.0 million. Institutional investors collectively own 71.34% of AMD.
• AMD’s growth outlook remains optimistic, with its CFO raising the estimated 2030 total addressable market to as much as $3 trillion, supported by demand for server CPUs, GPUs and AI infrastructure.
• Analyst sentiment is broadly positive: AMD has a consensus “Moderate Buy” rating and a $557.62 target price, while the company recently exceeded quarterly earnings and revenue expectations, reporting 50.1% year-over-year revenue growth.

Cidel Asset Management Inc. lowered its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 38.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 34,494 shares of the semiconductor manufacturer's stock after selling 21,579 shares during the period. Cidel Asset Management Inc.'s holdings in Advanced Micro Devices were worth $20,038,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in AMD. Sarver Vrooman Wealth Advisors acquired a new stake in shares of Advanced Micro Devices in the 4th quarter worth $27,000. Cornerstone Financial Management LLC purchased a new stake in shares of Advanced Micro Devices in the 4th quarter valued at approximately $27,000. Basepoint Wealth LLC acquired a new stake in shares of Advanced Micro Devices during the 4th quarter worth approximately $30,000. 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 acquiring an additional 30 shares during the last quarter. Finally, Graney & King LLC acquired a new stake in Advanced Micro Devices during the first quarter worth $31,000. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Micro Devices News Roundup

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

• Positive Sentiment: AMD CFO Jean Hu raised the company’s estimated 2030 total addressable market to as much as $3 trillion, up from approximately $2 trillion. The company also increased its long-term server-CPU market estimate, reinforcing the bullish view of AI infrastructure demand. AMD Stock Rises as CFO Claims Its Addressable Market Could Reach $3 Trillion
• Positive Sentiment: Coverage highlights AMD’s growing presence in data centers through EPYC server CPUs, Instinct GPUs and Helios rack-scale systems. The company’s AI hardware and software push, along with its OpenAI GPU relationship, supports the possibility of faster growth relative to Nvidia over the next several years. Prediction: AMD Stock Could Outrun Nvidia Over the Next 3 Years
• Positive Sentiment: A newly discussed, high-end AI workstation capable of running very large models locally expands AMD’s opportunity beyond cloud providers and could appeal to enterprises with sensitive AI workloads. AMD Just Put 300 Billion-Parameter AI Models on a Desktop

Wall Street Analyst Weigh In

Several brokerages have recently commented on AMD. Raymond James Financial upgraded shares of Advanced Micro Devices from an "outperform" rating to a "strong-buy" rating and upped their price objective for the stock from $565.00 to $641.00 in a report on Tuesday, August 25th. Mizuho boosted their price target on shares of Advanced Micro Devices from $615.00 to $625.00 and gave the stock an "outperform" rating in a research note on Monday, July 27th. William Blair reissued a "market perform" rating on shares of Advanced Micro Devices in a research report on Friday, July 24th. Susquehanna raised their price objective on shares of Advanced Micro Devices from $450.00 to $500.00 and gave the company a "positive" rating in a research note on Thursday, July 30th. Finally, Wall Street Zen upgraded shares of Advanced Micro Devices from a "hold" rating to a "buy" rating in a report on Saturday, August 29th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Advanced Micro Devices currently has an average rating of "Moderate Buy" and a consensus target price of $557.62.

Insider Transactions at Advanced Micro Devices

In related news, CEO Lisa Su sold 15,000 shares of the company's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $480.94, for a total value of $7,214,100.00. Following the completion of the transaction, the chief executive officer directly owned 3,102,156 shares of the company's stock, valued at $1,491,950,906.64. This represents a 0.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction of $7,111,200.00. Following the completion of the transaction, the executive vice president owned 160,979 shares in the company, valued at $76,316,924.32. This represents a 8.52% 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 sold a total of 107,577 shares of company stock valued at $51,922,920 over the last three months. 0.50% of the stock is owned by corporate insiders.

Advanced Micro Devices Stock Up 5.9%

Advanced Micro Devices stock opened at $505.74 on Wednesday. The stock has a market cap of $825.61 billion, a PE ratio of 130.01, a P/E/G ratio of 4.95 and a beta of 2.48. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.61 and a quick ratio of 1.91. The stock's fifty day moving average is $496.46 and its two-hundred day moving average is $398.67. Advanced Micro Devices, Inc. has a 1-year low of $149.85 and a 1-year high of $584.73.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The semiconductor manufacturer reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.04. Advanced Micro Devices had a return on equity of 12.30% and a net margin of 15.58%.The business had revenue of $11.54 billion during the quarter, compared to analysts' expectations of $11.31 billion. During the same period in the prior year, the firm posted $0.48 EPS. The business's quarterly revenue was up 50.1% compared to the same quarter last year. On average, sell-side analysts expect that Advanced Micro Devices, Inc. will post 6.44 EPS for the current fiscal year.

Advanced Micro Devices Company Profile

Advanced Micro Devices, Inc NASDAQ: AMD is a semiconductor company that designs high-performance computing, graphics and adaptive-processing products. Its portfolio includes central processing units (CPUs), graphics processing units (GPUs), accelerated processing units (APUs), field-programmable gate arrays (FPGAs) and adaptive system-on-chip products.

AMD serves customers across data centers, cloud computing, personal computers, gaming consoles, embedded systems and industrial applications.

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