Arizona State Retirement System Increases Stock Holdings in Advanced Micro Devices, Inc. $AMD

Key Points

• Arizona State Retirement System increased its AMD stake by 1.4% in the second quarter, adding 6,334 shares to own 452,388 shares valued at approximately $262.8 million. AMD represents 1.3% of the fund’s portfolio, while institutional investors and hedge funds collectively own 71.34% of the stock.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $553.72. Truist Financial raised its target to $594, while Wedbush and Evercore maintained “outperform” ratings.
• AMD reported quarterly revenue of $11.54 billion, up 50.1% year over year, and earnings of $1.66 per share, exceeding estimates. However, the shares trade at a lofty valuation, and insiders sold about $109.5 million of stock over the past three months, creating potential risks if AI growth expectations fall short.

Arizona State Retirement System increased its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 1.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 452,388 shares of the semiconductor manufacturer's stock after buying an additional 6,334 shares during the period. Advanced Micro Devices comprises 1.3% of Arizona State Retirement System's investment portfolio, making the stock its 12th largest holding. Arizona State Retirement System's holdings in Advanced Micro Devices were worth $262,797,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in Advanced Micro Devices by 178.2% in the fourth quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer's stock valued at $5,551,000 after purchasing an additional 29,438 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in shares of Advanced Micro Devices by 2.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer's stock worth $1,001,000 after buying an additional 234 shares during the last quarter. Sivia Capital Partners LLC lifted its position in shares of Advanced Micro Devices by 125.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 5,344 shares of the semiconductor manufacturer's stock worth $758,000 after buying an additional 2,970 shares during the last quarter. United Bank boosted its holdings in shares of Advanced Micro Devices by 22.0% in the 2nd quarter. United Bank now owns 13,255 shares of the semiconductor manufacturer's stock valued at $1,881,000 after buying an additional 2,392 shares in the last quarter. Finally, Schnieders Capital Management LLC. boosted its holdings in shares of Advanced Micro Devices by 361.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 9,230 shares of the semiconductor manufacturer's stock valued at $1,310,000 after buying an additional 7,228 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on AMD. Truist Financial raised 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. Loop Capital upgraded Advanced Micro Devices to a "strong-buy" rating in a research note on Tuesday, June 16th. William Blair reissued a "market perform" rating on shares of Advanced Micro Devices in a report on Friday, July 24th. Wedbush reaffirmed an "outperform" rating and issued a $600.00 target price on shares of Advanced Micro Devices in a report on Wednesday, August 5th. Finally, Evercore reaffirmed an "outperform" rating and issued a $579.00 target price on shares of Advanced Micro Devices in a report on Tuesday, May 19th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Advanced Micro Devices has a consensus rating of "Moderate Buy" and a consensus price target of $553.72.

Advanced Micro Devices News Summary

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

• Positive Sentiment: AMD raised its estimate for the total addressable AI market to approximately $3 trillion by 2030, up from roughly $2 trillion previously. The larger market forecast strengthened the long-term growth narrative and helped support the shares. AMD stock jumps 6% as AI market opportunity seen at $3T
• Positive Sentiment: At Citi’s Global TMT Conference, management highlighted AMD’s data-center roadmap and its broader AI portfolio, including EPYC server processors, Instinct GPUs and Helios rack-scale systems. Investors view the platform approach as a potential driver of accelerating second-half 2026 demand. AMD Presents at Citi's 2026 Global TMT Conference Transcript
• Positive Sentiment: Recent coverage emphasized AMD’s AI-optimized processors, a planned high-end workstation capable of running very large models locally, and its major GPU relationship with OpenAI. These developments reinforce expectations for share gains in AI hardware and data-center computing. AMD Stock Jumps After Unveiling AI Workstation
• Neutral Sentiment: Analyst and investor commentary remains broadly constructive, with several published price targets above the current market level. However, the stock’s strong year-to-date advance has increased sensitivity to execution and future guidance.
• Negative Sentiment: Some analysts argue AMD is already valued more aggressively than Nvidia and Broadcom, while Broadcom’s faster growth and lower valuation could make it the preferred AI hardware investment. This creates a risk of profit-taking if AMD’s AI ramp falls short of expectations. Forget AMD: This AI Hardware Stock Is the Smarter Bet Right Now
• Negative Sentiment: Quiver Quantitative data showed substantial insider selling and no reported insider purchases over the past six months. While such sales may be scheduled or compensation-related, they could temper bullish sentiment at an elevated valuation.

Insider Activity

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 28,811 shares of the company's stock in a transaction dated 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jean X. Hu sold 15,000 shares of the stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $474.08, for a total transaction of $7,111,200.00. Following the completion of the sale, the executive vice president owned 160,979 shares in the company, valued at $76,316,924.32. This represents a 8.52% 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. Insiders sold a total of 232,577 shares of company stock worth $109,509,170 in the last three months. Company insiders own 0.50% of the company's stock.

Advanced Micro Devices Price Performance

Shares of NASDAQ:AMD traded up $28.17 on Tuesday, reaching $505.74. 28,078,002 shares of the company were exchanged, compared to its average volume of 33,952,883. The company has a 50-day moving average of $497.96 and a 200-day moving average of $396.52. The company has a current ratio of 2.61, a quick ratio of 1.91 and a debt-to-equity ratio of 0.03. The firm has a market cap of $825.61 billion, a price-to-earnings ratio of 130.01, a price-to-earnings-growth ratio of 4.95 and a beta of 2.48. Advanced Micro Devices, Inc. has a 1-year low of $149.85 and a 1-year high of $584.73.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its earnings results on Tuesday, August 4th. The semiconductor manufacturer reported $1.66 earnings per share 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 company had revenue of $11.54 billion for the quarter, compared to analyst estimates of $11.31 billion. During the same period in the prior year, the business posted $0.48 earnings per share. The firm's revenue for the quarter was up 50.1% compared to the same quarter last year. Equities analysts forecast that Advanced Micro Devices, Inc. will post 6.44 earnings per share for the current fiscal year.

Advanced Micro Devices Company Profile

Advanced Micro Devices, Inc NASDAQ: AMD is a semiconductor company that designs high-performance computing, graphics and adaptive-processing products. Its portfolio includes central processing units (CPUs), graphics processing units (GPUs), accelerated processing units (APUs), field-programmable gate arrays (FPGAs) and adaptive system-on-chip products.

AMD serves customers across data centers, cloud computing, personal computers, gaming consoles, embedded systems and industrial applications.

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