Advanced Micro Devices, Inc. $AMD Stock Holdings Reduced by Traynor Capital Management Inc.

Key Points

• Traynor Capital Management reduced its AMD stake by 1.7%, selling 997 shares and retaining 57,981 shares valued at approximately $35.5 million. Institutional investors collectively own 71.34% of AMD.
• AMD reported quarterly revenue of $11.54 billion, up 50.1% year over year, and earnings of $1.66 per share, exceeding analyst expectations.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $607.57, while insiders have sold about $114.9 million of stock over the past 90 days.

Traynor Capital Management Inc. lowered its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 1.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,981 shares of the semiconductor manufacturer's stock after selling 997 shares during the quarter. Advanced Micro Devices comprises 1.6% of Traynor Capital Management Inc.'s portfolio, making the stock its 14th biggest holding. Traynor Capital Management Inc.'s holdings in Advanced Micro Devices were worth $35,471,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in AMD. DecisionPoint Financial LLC increased its holdings in Advanced Micro Devices by 79.2% in the 3rd quarter. DecisionPoint Financial LLC now owns 43 shares of the semiconductor manufacturer's stock worth $26,000 after acquiring an additional 19 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. purchased a new position in Advanced Micro Devices during the third quarter valued at approximately $29,000. JNBA Financial Advisors boosted its position in shares of Advanced Micro Devices by 142.9% in the second quarter. JNBA Financial Advisors now owns 51 shares of the semiconductor manufacturer's stock worth $30,000 after purchasing an additional 30 shares during the period. Downshift Financial LLC boosted its position in shares of Advanced Micro Devices by 850.0% in the third quarter. Downshift Financial LLC now owns 57 shares of the semiconductor manufacturer's stock worth $35,000 after purchasing an additional 51 shares during the period. Finally, Sawyer & Company Inc bought a new position in shares of Advanced Micro Devices in the third quarter worth approximately $37,000. 71.34% of the stock is owned by hedge funds and other institutional investors.

Advanced Micro Devices Stock Performance

Advanced Micro Devices stock opened at $504.80 on Monday. The stock has a market cap of $824.07 billion, a P/E ratio of 129.77, a PEG ratio of 5.18 and a beta of 2.45. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.61 and a quick ratio of 1.91. Advanced Micro Devices, Inc. has a 1 year low of $188.22 and a 1 year high of $658.52. The firm's 50 day moving average price is $548.29 and its 200-day moving average price is $409.20.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its earnings results on Tuesday, August 4th. The semiconductor manufacturer reported $1.66 EPS for the quarter, topping the consensus estimate of $1.62 by $0.04. Advanced Micro Devices had a net margin of 15.58% and a return on equity of 12.30%. The firm had revenue of $11.54 billion for the quarter, compared to the consensus estimate of $11.31 billion. During the same quarter in the previous year, the firm earned $0.48 earnings per share. The company's quarterly revenue was up 50.1% compared to the same quarter last year. On average, equities analysts predict that Advanced Micro Devices, Inc. will post 6.50 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AMD. Piper Sandler started coverage on shares of Advanced Micro Devices in a research note on Tuesday, September 15th. They issued an "overweight" rating and a $600.00 price objective for the company. Mizuho upped their target price on shares of Advanced Micro Devices from $580.00 to $705.00 and gave the stock an "outperform" rating in a report on Tuesday, October 6th. Truist Financial increased their price target on Advanced Micro Devices from $478.00 to $594.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Argus increased their price target on Advanced Micro Devices from $450.00 to $625.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $700.00 price target on shares of Advanced Micro Devices in a report on Tuesday, September 29th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $607.57.

Insider Buying and Selling

In related news, SVP Ava Hahn sold 2,993 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $488.69, for a total transaction of $1,462,649.17. Following the completion of the transaction, the senior vice president directly owned 26,623 shares of the company's stock, valued at approximately $13,010,393.87. This represents a 10.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark D. Papermaster sold 28,811 shares of the firm's stock in a transaction that occurred on 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 owned 1,261,461 shares of the company's stock, valued at $595,245,602.07. This represents a 2.23% 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. Insiders sold a total of 231,100 shares of company stock worth $114,867,400 in the last 90 days. 0.50% of the stock is owned by company insiders.

Trending Headlines about Advanced Micro Devices

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

• Positive Sentiment: AMD is viewed by some analysts as a buy ahead of earnings, with expectations for continued growth in data-center and AI-related products. A strong report or upbeat outlook could help restore confidence after the recent pullback. AMD, ANET, DDOG: 3 Tech Stocks to Buy Ahead of Earnings, According to Analysts
• Positive Sentiment: Institutional positioning provides a bullish signal: Tiger Global reportedly opened a roughly $392 million AMD position in the second quarter. Although ARK Invest reduced its AMD stake by 48%, the chipmaker remained one of ARK’s largest holdings. A $24 Billion Hedge Fund Bought Advanced Micro Devices. Cathie Wood Cut Her Stake 48%. Who’s Right?
• Positive Sentiment: AMD’s shares rebounded alongside Nvidia and Broadcom after Friday’s sector-wide decline, suggesting some investors are treating the sell-off as a buying opportunity ahead of major technology earnings.
• Neutral Sentiment: Tuesday’s results are a major near-term catalyst. Management commentary on AI infrastructure demand, customer spending and memory costs could determine whether the broader AI-chip trade recovers or remains under pressure. AMD, Arista, Supermicro Earnings Previews: Can AI Infrastructure Shake Off Friday’s Rout?
• Negative Sentiment: Intel’s weaker outlook, attributed partly to declining PC shipments, has raised concerns that AMD could also face softness in its PC business. Investors are also questioning AMD’s roughly 130 price-to-earnings ratio and whether AI-related growth already reflects overly optimistic expectations. Intel Has a Massive Warning for AMD Stock Investors

Advanced Micro Devices Profile

Advanced Micro Devices, Inc NASDAQ: AMD is a global semiconductor company that designs high-performance computing, graphics and adaptive computing products. Its offerings serve data centers, personal computers, gaming systems, embedded markets and other specialized applications.

AMD's product portfolio includes Ryzen processors for desktop and notebook computers, EPYC server processors, Radeon graphics processing units, and Instinct accelerators for artificial intelligence and high-performance computing.

Want to see what other hedge funds are holding AMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.