Allstate Corp Reduces Holdings in Advanced Micro Devices, Inc. $AMD

Allstate Corp cut its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 6.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 156,785 shares of the semiconductor manufacturer's stock after selling 10,187 shares during the quarter. Advanced Micro Devices comprises approximately 0.9% of Allstate Corp's portfolio, making the stock its 17th largest holding. Allstate Corp's holdings in Advanced Micro Devices were worth $91,078,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Luminist Capital LLC purchased a new position in Advanced Micro Devices in the second quarter worth $46,000. BOK Financial Private Wealth Inc. purchased a new stake in shares of Advanced Micro Devices during the 2nd quarter worth $53,000. Toews Corp ADV acquired a new position in shares of Advanced Micro Devices during the 2nd quarter worth $66,000. Cornerstone Financial Management LLC acquired a new position in shares of Advanced Micro Devices during the 4th quarter worth $27,000. Finally, Sarver Vrooman Wealth Advisors purchased a new position in shares of Advanced Micro Devices in the 4th quarter valued at about $27,000. 71.34% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Advanced Micro Devices

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

• Positive Sentiment: AI demand and product roadmap remain strong: AMD’s previously announced rack-scale platforms and server products are moving closer to deployment, supporting expectations for continued data-center growth. Recent results showed revenue up 50% year over year to $11.54 billion, while management guided to roughly $13 billion in third-quarter revenue. AMD stock ran its published roadmap
• Positive Sentiment: Strategic Nutanix partnership broadens AMD’s AI offering: AMD’s equity investment and joint development agreement with Nutanix could help deliver integrated, open AI inference systems that compete with Nvidia’s software-centric platform. AMD and Nutanix strategic partnership
• Neutral Sentiment: Analyst comparisons favor rivals on risk-reward: Commentary argues Broadcom offers better diversification and a lower valuation, while Nvidia’s stronger profitability, CUDA ecosystem and recent outperformance give it an advantage over AMD. These comparisons may limit enthusiasm despite AMD’s growth prospects. Broadcom versus AMD risk-reward comparison
• Negative Sentiment: Potential tariffs increase cost and supply-chain risk: Reports that the administration may extend semiconductor tariffs to products containing chips, including data-center servers, have raised concerns about higher costs and disrupted hardware supply chains. Why AMD stock is sliding
• Negative Sentiment: Profit-taking and selling activity weigh on sentiment: ARK Invest sold approximately $18 million of AMD shares while reallocating capital to Broadcom and Cerebras. AMD EVP Jean Hu also sold $7.1 million of stock under a pre-arranged Rule 10b5-1 plan, although she retained a substantial position. Cathie Wood sold AMD stock

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Loop Capital upgraded Advanced Micro Devices to a "strong-buy" rating in a research report on Tuesday, June 16th. Wells Fargo & Company raised their price target on Advanced Micro Devices from $615.00 to $700.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 5th. Robert W. Baird set a $1,250.00 price objective on Advanced Micro Devices in a research report on Friday, July 24th. Melius Research set a $660.00 target price on shares of Advanced Micro Devices in a research note on Friday, July 24th. Finally, Rosenblatt Securities lifted their price target on shares of Advanced Micro Devices from $665.00 to $700.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Advanced Micro Devices currently has a consensus rating of "Moderate Buy" and a consensus price target of $553.72.

Advanced Micro Devices Price Performance

NASDAQ AMD opened at $465.58 on Friday. Advanced Micro Devices, Inc. has a 12 month low of $149.22 and a 12 month high of $584.73. The firm has a market capitalization of $760.05 billion, a PE ratio of 119.69 and a beta of 2.48. The company's 50 day simple moving average is $505.66 and its 200 day simple moving average is $384.43. 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 (NASDAQ:AMD - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The semiconductor manufacturer reported $1.66 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.04. The business had revenue of $11.54 billion during the quarter, compared to analyst estimates of $11.31 billion. Advanced Micro Devices had a return on equity of 12.30% and a net margin of 15.58%.Advanced Micro Devices's revenue for the quarter was up 50.1% on a year-over-year basis. During the same quarter last year, the company posted $0.48 EPS. As a group, equities research analysts forecast that Advanced Micro Devices, Inc. will post 6.44 EPS for the current fiscal year.

Insider Transactions at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 28,811 shares of the business's stock in a transaction 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 completion of the sale, the executive vice president directly 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. The sale was disclosed in a 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, CEO Lisa T. Su sold 15,000 shares of the company's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $480.94, for a total transaction of $7,214,100.00. Following the sale, the chief executive officer owned 3,102,156 shares of the company's stock, valued at $1,491,950,906.64. This trade represents a 0.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 241,203 shares of company stock worth $114,011,942. 0.50% of the stock is currently owned by company insiders.

Advanced Micro Devices Company Profile

Advanced Micro Devices, Inc NASDAQ: AMD is a global semiconductor company that designs and sells microprocessors, graphics processors, chipsets and adaptive computing solutions for a broad set of markets. The company's product portfolio includes consumer and commercial CPUs under the Ryzen and Threadripper brands, data center processors under the EPYC brand, and Radeon graphics processing units for gaming and professional visualization. AMD also offers semi-custom system-on-chip (SoC) products for gaming consoles and other specialized applications, and provides supporting software and platform technologies for OEMs, cloud service providers and end users.

Founded in 1969, AMD has evolved from a supplier of logic chips into a diversified, fabless semiconductor designer.

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