Advanced Micro Devices, Inc. $AMD Stock Bought by AEGON ASSET MANAGEMENT UK Plc

Key Points

• AEGON Asset Management UK increased its AMD stake by 36.4% in the third quarter, adding 51,619 shares to reach 193,341 shares valued at about $118.3 million.
• AMD reported quarterly earnings of $2.09 per share, beating estimates, while revenue rose 44.7% year over year to $13.38 billion.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $642.47; meanwhile, company insiders sold shares during the past 90 days.

AEGON ASSET MANAGEMENT UK Plc grew its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 36.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 193,341 shares of the semiconductor manufacturer's stock after purchasing an additional 51,619 shares during the period. Advanced Micro Devices comprises approximately 1.2% of AEGON ASSET MANAGEMENT UK Plc's investment portfolio, making the stock its 19th biggest holding. AEGON ASSET MANAGEMENT UK Plc's holdings in Advanced Micro Devices were worth $118,278,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. First Citizens Financial Corp increased its position in shares of Advanced Micro Devices by 3.4% during the 3rd quarter. First Citizens Financial Corp now owns 490 shares of the semiconductor manufacturer's stock worth $300,000 after purchasing an additional 16 shares during the last quarter. Fearless Solutions LLC dba Best Invest boosted its holdings in shares of Advanced Micro Devices by 1.5% in the 3rd quarter. Fearless Solutions LLC dba Best Invest now owns 1,174 shares of the semiconductor manufacturer's stock valued at $718,000 after buying an additional 17 shares during the last quarter. Private Client Services LLC boosted its holdings in shares of Advanced Micro Devices by 1.7% in the 3rd quarter. Private Client Services LLC now owns 1,079 shares of the semiconductor manufacturer's stock valued at $660,000 after buying an additional 18 shares during the last quarter. Essential Investment Partners LLC grew its stake in shares of Advanced Micro Devices by 40.0% in the third quarter. Essential Investment Partners LLC now owns 63 shares of the semiconductor manufacturer's stock valued at $39,000 after buying an additional 18 shares in the last quarter. Finally, CKW Financial Group grew its stake in shares of Advanced Micro Devices by 1.3% in the third quarter. CKW Financial Group now owns 1,450 shares of the semiconductor manufacturer's stock valued at $893,000 after buying an additional 18 shares in the last quarter. Institutional investors own 71.34% of the company's stock.

Trending Headlines about Advanced Micro Devices

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

• Positive Sentiment: Google Cloud is using AMD’s 5th Gen EPYC processors for host infrastructure supporting its TPU 8tx system. The deal expands AMD’s role in large-scale AI infrastructure, although it is a CPU infrastructure win rather than a selection of AMD’s AI accelerators. AMD announcement on Google Cloud
• Positive Sentiment: Oppenheimer upgraded AMD to Outperform and set a $600 price target, citing accelerating sales and forecasting 135% data-center revenue growth next year. The call helped bolster confidence in AMD’s AI growth outlook. CNBC report on Oppenheimer upgrade
• Positive Sentiment: Recent quarterly results provided additional support: revenue rose 45% year over year, with data-center revenue up 97%, and management expects revenue growth to accelerate. A broader technology-sector rally also helped lift sentiment. Quarterly results and outlook
• Neutral Sentiment: AMD also benefited as investors looked for alternatives amid pressure on Nvidia, though analysts noted that chipmakers could face increased scrutiny of sales practices. MarketWatch analysis
• Negative Sentiment: A reported Radeon GPU bug affecting SSD lifespan is a product concern, although it did not prevent the rally. Commentary also flagged elevated valuation and rising inventory as risks to sustaining gains. TipRanks report on Radeon GPU bug

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Piper Sandler upped their price target on shares of Advanced Micro Devices from $600.00 to $650.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 4th. Oppenheimer upgraded shares of Advanced Micro Devices from a "market perform" rating to an "outperform" rating and set a $600.00 price objective on the stock in a research note on Monday. Wall Street Zen upgraded shares of Advanced Micro Devices from a "hold" rating to a "buy" rating in a research note on Sunday. Roth Capital upped their target price on shares of Advanced Micro Devices from $500.00 to $650.00 and gave the company a "buy" rating in a report on Friday, July 24th. Finally, UBS Group cut their target price on shares of Advanced Micro Devices from $730.00 to $700.00 and set a "buy" rating for the company in a research note 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 issued a Sell rating to the company's stock. According to data from MarketBeat.com, Advanced Micro Devices currently has a consensus rating of "Moderate Buy" and a consensus target price of $642.47.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 28,811 shares of the company's stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $471.87, for a total value of $13,595,046.57. Following the transaction, the executive vice president owned 1,261,461 shares of the company's stock, valued at approximately $595,245,602.07. This represents a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lisa T. Su sold 25,000 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $506.79, for a total value of $12,669,750.00. Following the transaction, the chief executive officer owned 74,211 shares in the company, valued at approximately $37,609,392.69. This trade represents a 25.20% decrease in their position. 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. Insiders have sold a total of 230,957 shares of company stock worth $114,799,511 in the last ninety days. Insiders own 0.50% of the company's stock.

Advanced Micro Devices Trading Up 13.3%

Shares of Advanced Micro Devices stock opened at $508.58 on Tuesday. The business has a fifty day simple moving average of $547.67 and a two-hundred day simple moving average of $416.28. Advanced Micro Devices, Inc. has a 1 year low of $188.22 and a 1 year high of $658.52. The company has a market capitalization of $830.24 billion, a price-to-earnings ratio of 86.82, a P/E/G ratio of 5.01 and a beta of 2.49. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.72 and a quick ratio of 1.91.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings data on Tuesday, November 3rd. The semiconductor manufacturer reported $2.09 EPS for the quarter, beating the consensus estimate of $1.95 by $0.14. The firm had revenue of $13.38 billion for the quarter, compared to the consensus estimate of $13.10 billion. Advanced Micro Devices had a net margin of 16.77% and a return on equity of 14.15%. The company's quarterly revenue was up 44.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.20 earnings per share. Research analysts forecast that Advanced Micro Devices, Inc. will post 6.59 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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