Advanced Micro Devices, Inc. $AMD Stock Holdings Reduced by Private Advisory Group LLC

Key Points

• Private Advisory Group cut its AMD stake by 7.6% in the third quarter, selling 4,747 shares. It retained 57,593 shares, valued at about $35.2 million.
• AMD reported quarterly EPS of $2.09, beating the $1.95 consensus, while revenue of $13.38 billion topped expectations and rose 44.7% year over year.
• Analyst views were mixed, but the consensus rating was Moderate Buy with a $640.11 target price. AMD also introduced its Instinct MI450X data-center GPU, expanding its AI chip lineup.

Private Advisory Group LLC cut its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 7.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,593 shares of the semiconductor manufacturer's stock after selling 4,747 shares during the period. Advanced Micro Devices accounts for about 1.9% of Private Advisory Group LLC's portfolio, making the stock its 9th largest position. Private Advisory Group LLC's holdings in Advanced Micro Devices were worth $35,233,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. DecisionPoint Financial LLC grew its holdings 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 buying an additional 19 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. purchased a new position in Advanced Micro Devices in the 3rd quarter worth $29,000. JNBA Financial Advisors lifted its position in Advanced Micro Devices by 142.9% during the 2nd quarter. JNBA Financial Advisors now owns 51 shares of the semiconductor manufacturer's stock worth $30,000 after acquiring an additional 30 shares during the period. Graney & King LLC acquired a new stake in Advanced Micro Devices during the 1st quarter worth about $31,000. Finally, Main Street Group LTD purchased a new stake in Advanced Micro Devices during the 1st quarter valued at about $33,000. Hedge funds and other institutional investors own 71.34% of the company's stock.

Advanced Micro Devices Price Performance

Shares of AMD opened at $585.30 on Friday. The business's 50-day moving average is $552.99 and its two-hundred day moving average is $420.72. The company has a market capitalization of $959.94 billion, a P/E ratio of 127.24, a P/E/G ratio of 5.32 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 issued its quarterly earnings data on Tuesday, November 3rd. The semiconductor manufacturer reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $13.38 billion during the quarter, compared to analysts' expectations of $13.10 billion. During the same quarter in the previous year, the firm posted $1.20 EPS. The company's revenue for the quarter was up 44.7% on a year-over-year basis. Research analysts predict that Advanced Micro Devices, Inc. will post 6.93 earnings per share for the current year.

Recent Advanced Micro Devices Headlines

These are some of the AMD headlines 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: 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
• 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.

Insider Activity at Advanced Micro Devices

In related news, 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 completion of the transaction, the executive vice president directly owned 353,317 shares in the company, valued at approximately $191,038,501.90. This trade represents a 4.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 Paul Grasby sold 15,000 shares of the business's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $514.91, for a total value of $7,723,650.00. Following the completion of the transaction, the executive vice president directly owned 117,687 shares of the company's stock, valued at $60,598,213.17. The trade was a 11.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 223,588 shares of company stock valued at $111,208,302 in the last 90 days. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on AMD shares. Piper Sandler lowered Advanced Micro Devices from an "overweight" rating to a "neutral" rating in a report on Thursday. Oppenheimer raised Advanced Micro Devices from a "market perform" rating to an "outperform" rating and set a $600.00 target price for the company in a report on Monday. Weiss Ratings lowered Advanced Micro Devices from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, November 4th. Benchmark increased their price target on shares of Advanced Micro Devices from $485.00 to $685.00 and gave the stock a "buy" rating in a report on Wednesday, July 22nd. Finally, Argus raised their price target on shares of Advanced Micro Devices from $450.00 to $625.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Three analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Advanced Micro Devices has an average rating of "Moderate Buy" and a consensus target price of $640.11.

About Advanced Micro Devices

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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