Advanced Micro Devices, Inc. $AMD Stock Acquired by Russell Investments Group Ltd.

Key Points

• Russell Investments increased its AMD stake by 4.5% in the third quarter, adding 78,136 shares to bring its holding to about 1.82 million shares, valued at roughly $1.11 billion.
• Institutional investors own 71.34% of AMD, while company insiders sold 223,588 shares worth about $111.2 million over the last quarter; the CEO’s sale was made under a pre-arranged trading plan.
• AMD beat quarterly earnings and revenue estimates, with revenue up 44.7% year over year. Analysts’ consensus rating is “Moderate Buy,” with a $640.11 average price target, though some firms recently downgraded their ratings or lowered targets.

Russell Investments Group Ltd. raised its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 4.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,819,889 shares of the semiconductor manufacturer's stock after buying an additional 78,136 shares during the period. Advanced Micro Devices comprises about 1.0% of Russell Investments Group Ltd.'s portfolio, making the stock its 12th largest holding. Russell Investments Group Ltd. owned approximately 0.11% of Advanced Micro Devices worth $1,112,452,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Southpoint Capital Advisors LP boosted its holdings in shares of Advanced Micro Devices by 50.0% during the 1st 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 grew its position in shares of Advanced Micro Devices by 6.0% in 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 in the last quarter. Ferguson Wellman Capital Management Inc. grew its position in shares of 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 in the last quarter. Douglas Lane & Associates LLC increased its holdings in shares of 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. increased its holdings in shares of Advanced Micro Devices by 1,288.6% in the second quarter. Nan Shan Life Insurance Co. Ltd. now owns 220,170 shares of the semiconductor manufacturer's stock valued at $127,899,000 after purchasing an additional 204,315 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Lisa T. Su sold 70,000 shares of the firm's stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $506.80, for a total transaction of $35,476,000.00. Following the completion of the sale, the chief executive officer directly owned 3,032,156 shares of the company's stock, valued at approximately $1,536,696,660.80. This trade represents a 2.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 business's stock in a transaction dated 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 sale, the executive vice president owned 160,979 shares in the company, valued at approximately $76,316,924.32. This trade 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. Over the last quarter, insiders have sold 223,588 shares of company stock worth $111,208,302. Corporate insiders own 0.50% of the company's stock.

Wall Street Analyst Weigh In

AMD has been the topic of a number of analyst reports. Mizuho reduced their price objective on Advanced Micro Devices from $705.00 to $610.00 and set an "outperform" rating on the stock in a research report on Wednesday, November 4th. Piper Sandler cut Advanced Micro Devices from an "overweight" rating to a "neutral" rating in a report on Thursday. KeyCorp lowered Advanced Micro Devices from an "overweight" rating to a "sector weight" rating in a report on Thursday. Wells Fargo & Company lowered their price target on shares of Advanced Micro Devices from $700.00 to $650.00 and set an "overweight" rating on the stock in a research report on Wednesday, November 4th. Finally, Bank of America boosted their price target on shares of Advanced Micro Devices from $650.00 to $700.00 and gave the company a "buy" rating in a research report on Thursday. Three research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $640.11.

Key Headlines Impacting Advanced Micro Devices

These are some of the AMD headlines that stood out recently:

• Positive Sentiment: AMD introduced its Instinct MI450X data-center GPU, broadening its AI chip offering. The company also expanded its PsiQuantum partnership and plans to invest in the quantum-computing firm, a longer-term opportunity. AMD unveils new AI GPU AMD PsiQuantum investment
• 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.

Advanced Micro Devices Trading Up 5.9%

AMD opened at $585.30 on Friday. Advanced Micro Devices, Inc. has a one year low of $188.22 and a one year high of $658.52. The stock has a market capitalization of $959.94 billion, a PE ratio of 127.24, a P/E/G ratio of 5.32 and a beta of 2.49. The business's 50 day moving average price is $552.99 and its 200 day moving average price is $420.72. 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 issued its quarterly earnings data on Tuesday, November 3rd. The semiconductor manufacturer reported $2.09 earnings per share 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 analyst estimates of $13.10 billion. Advanced Micro Devices had a return on equity of 14.15% and a net margin of 16.77%. The firm's revenue for the quarter was up 44.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.20 earnings per share. As a group, equities research analysts expect that Advanced Micro Devices, Inc. will post 6.93 EPS for the current year.

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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