Advanced Micro Devices, Inc. $AMD Stock Position Lowered by Hohimer Wealth Management LLC

Key Points

• Hohimer Wealth Management cut its AMD position by 55.3% in the third quarter, selling 5,640 shares and retaining 4,567 shares, valued at about $2.8 million in its latest SEC filing.
• AMD reported quarterly EPS of $2.09 and revenue of $13.38 billion, beating analyst estimates; revenue increased 44.7% year over year.
• Company insiders sold shares worth about $114.8 million over the past quarter, while analysts maintained a “Moderate Buy” consensus rating and an average price target of $642.47.

Hohimer Wealth Management LLC cut its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 55.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,567 shares of the semiconductor manufacturer's stock after selling 5,640 shares during the quarter. Hohimer Wealth Management LLC's holdings in Advanced Micro Devices were worth $2,794,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of America Corp DE acquired a new position in shares of Advanced Micro Devices during the second quarter worth about $7,022,226,000. BlackRock Inc. lifted its position in Advanced Micro Devices by 3.1% in the second quarter. BlackRock Inc. now owns 150,301,510 shares of the semiconductor manufacturer's stock valued at $87,311,650,000 after purchasing an additional 4,535,126 shares during the period. Jupiter Topco LLC acquired a new stake in Advanced Micro Devices in the second quarter valued at about $2,084,651,000. Wellington Management Group LLP lifted its position in Advanced Micro Devices by 33.9% in the second quarter. Wellington Management Group LLP now owns 9,334,396 shares of the semiconductor manufacturer's stock valued at $5,422,444,000 after purchasing an additional 2,365,419 shares during the period. Finally, State Street Corp boosted its holdings in Advanced Micro Devices by 2.9% in the 2nd quarter. State Street Corp now owns 76,920,783 shares of the semiconductor manufacturer's stock valued at $46,606,266,000 after purchasing an additional 2,149,563 shares in the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Lisa T. Su sold 25,000 shares of Advanced Micro Devices stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $506.79, for a total transaction of $12,669,750.00. Following the completion of the transaction, the chief executive officer directly owned 74,211 shares of the company's stock, valued at approximately $37,609,392.69. The trade was a 25.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 business's stock in a transaction 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 sale, the executive vice president owned 1,261,461 shares in the company, valued at approximately $595,245,602.07. The trade was a 2.23% decrease in their ownership of the stock. 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. Over the last quarter, insiders have sold 230,957 shares of company stock worth $114,799,511. 0.50% of the stock is owned by insiders.

Advanced Micro Devices Trading Up 13.3%

Shares of AMD opened at $508.58 on Tuesday. The company has a current ratio of 2.72, a quick ratio of 1.91 and a debt-to-equity ratio of 0.10. The firm's 50-day moving average is $547.67 and its two-hundred day moving average is $416.28. Advanced Micro Devices, Inc. has a twelve month low of $188.22 and a twelve month high of $658.52. The firm has a market capitalization of $830.24 billion, a P/E ratio of 110.56, a PEG ratio of 5.01 and a beta of 2.49.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its earnings results on Tuesday, November 3rd. The semiconductor manufacturer reported $2.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.95 by $0.14. Advanced Micro Devices had a net margin of 16.77% and a return on equity of 14.15%. The company had revenue of $13.38 billion during the quarter, compared to analysts' expectations of $13.10 billion. During the same period last year, the company posted $1.20 earnings per share. The firm's quarterly revenue was up 44.7% compared to the same quarter last year. On average, research analysts predict that Advanced Micro Devices, Inc. will post 6.59 earnings per share for the current fiscal year.

Advanced Micro Devices News Summary

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

Analysts Set New Price Targets

AMD has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on Advanced Micro Devices from $550.00 to $575.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 4th. Rosenblatt Securities reissued a "buy" rating and issued a $700.00 price target on shares of Advanced Micro Devices in a report on Wednesday, November 4th. Raymond James Financial restated a "strong-buy" rating and issued a $649.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, November 4th. Roth Capital upped their price objective on Advanced Micro Devices from $500.00 to $650.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Finally, Melius Research set a $650.00 price objective on Advanced Micro Devices in a report 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 assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Advanced Micro Devices currently has a consensus rating of "Moderate Buy" and an average price target of $642.47.

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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