Advanced Micro Devices, Inc. $AMD Stock Purchased by Eurizon Capital SGR S.p.A.

Key Points

• Eurizon Capital SGR increased its AMD stake by 9.9% in the third quarter, adding 117,497 shares to hold nearly 1.305 million shares worth about $797.5 million.
• AMD reported quarterly earnings of $2.09 per share and revenue of $13.38 billion, beating estimates; revenue rose 44.7% year over year. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $640.11.
• AMD shares were up 5.9% and opened at $585.30, while company insiders sold 223,588 shares worth about $111.2 million over 90 days. The article also flags valuation and possible export-control and cost pressures as risks.

Eurizon Capital SGR S.p.A. raised its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 9.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,304,994 shares of the semiconductor manufacturer's stock after acquiring an additional 117,497 shares during the period. Advanced Micro Devices comprises approximately 2.1% of Eurizon Capital SGR S.p.A.'s holdings, making the stock its 7th largest holding. Eurizon Capital SGR S.p.A. owned 0.08% of Advanced Micro Devices worth $797,499,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. 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 worth $87,311,650,000 after purchasing an additional 4,535,126 shares during the period. State Street Corp increased 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 buying an additional 2,149,563 shares during the period. Bank of America Corp DE bought a new stake in Advanced Micro Devices in the 2nd quarter valued at $7,022,226,000. Jennison Associates LLC raised its stake in shares of Advanced Micro Devices by 5.8% in the 2nd quarter. Jennison Associates LLC now owns 9,972,952 shares of the semiconductor manufacturer's stock valued at $5,793,388,000 after buying an additional 545,575 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Advanced Micro Devices by 33.9% in the 2nd quarter. Wellington Management Group LLP now owns 9,334,396 shares of the semiconductor manufacturer's stock valued at $5,422,444,000 after buying an additional 2,365,419 shares in the last quarter. Institutional investors own 71.34% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on AMD. Robert W. Baird set a $1,250.00 price objective on shares of Advanced Micro Devices in a report on Friday, July 24th. Argus increased 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. Piper Sandler lowered shares of Advanced Micro Devices from an "overweight" rating to a "neutral" rating in a research report on Thursday. CLSA restated an "outperform" rating and set a $710.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, September 9th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and set a $675.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, November 4th. Three investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $640.11.

Advanced Micro Devices Stock Up 5.9%

Shares of NASDAQ AMD opened at $585.30 on Friday. The stock has a market cap of $959.94 billion, a PE ratio of 127.24, a PEG ratio of 5.32 and a beta of 2.49. The business has a fifty day moving average of $552.99 and a two-hundred day moving average of $420.72. Advanced Micro Devices, Inc. has a 52-week low of $188.22 and a 52-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 earnings results on Tuesday, November 3rd. The semiconductor manufacturer reported $2.09 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $13.10 billion. During the same quarter in the previous year, the company earned $1.20 EPS. The firm's revenue for the quarter was up 44.7% compared to the same quarter last year. As a group, equities research analysts expect that Advanced Micro Devices, Inc. will post 6.93 earnings per share for the current fiscal year.

Insider Activity

In other Advanced Micro Devices news, EVP Forrest Norrod sold 17,262 shares of the company's stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $540.70, for a total transaction of $9,333,563.40. Following the sale, the executive vice president directly owned 353,317 shares of the company's stock, valued at approximately $191,038,501.90. This represents a 4.66% decrease in their ownership of the stock. The sale was disclosed in a filing 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 70,000 shares of the company'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 sale, the chief executive officer directly owned 3,032,156 shares in the company, valued at $1,536,696,660.80. This represents a 2.26% decrease in their ownership of the stock. 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 223,588 shares of company stock worth $111,208,302 over the last ninety days. Corporate insiders own 0.50% of the company's stock.

Key Stories Impacting Advanced Micro Devices

These are some of the AMD stories 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
• Negative Sentiment: Valuation remains a risk after the rally, while potential export-control burdens and industry cost pressures could weigh on margins and cash flow. Industry risks amid Nvidia transition

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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