Assenagon Asset Management S.A. Sells 261,682 Shares of Advanced Micro Devices, Inc. $AMD

Key Points

• Assenagon Asset Management cut its AMD stake by 4.9%, selling 261,682 shares during the third quarter. It still held 5.06 million shares valued at approximately $3.1 billion, representing 2.3% of its portfolio.
• AMD delivered stronger-than-expected quarterly results, with $1.66 in EPS and $11.54 billion in revenue, up 50.1% year over year. Analysts maintain a generally bullish outlook, with a consensus “Moderate Buy” rating and an average price target of $603.51.
• Despite strong AI and data-center demand prospects, valuation and market risks remain significant: AMD trades at a P/E of 144.53, while rising Treasury yields, concerns about AI infrastructure spending and recent insider selling have pressured the stock.

Assenagon Asset Management S.A. reduced its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 4.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,058,393 shares of the semiconductor manufacturer's stock after selling 261,682 shares during the quarter. Advanced Micro Devices accounts for 2.3% of Assenagon Asset Management S.A.'s portfolio, making the stock its 7th largest position. Assenagon Asset Management S.A. owned approximately 0.31% of Advanced Micro Devices worth $3,097,463,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Southpoint Capital Advisors LP increased its holdings in shares of Advanced Micro Devices by 50.0% in the first quarter. Southpoint Capital Advisors LP now owns 900,000 shares of the semiconductor manufacturer's stock worth $183,087,000 after buying an additional 300,000 shares during the period. Boomfish Wealth Group LLC bought a new stake in shares of Advanced Micro Devices in the 1st quarter valued at about $1,193,000. Dimensional Fund Advisors LP boosted its holdings in Advanced Micro Devices by 6.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,142,516 shares of the semiconductor manufacturer's stock valued at $1,045,954,000 after acquiring an additional 291,165 shares during the period. Ferguson Wellman Capital Management Inc. boosted its holdings in Advanced Micro Devices by 6,968.7% during the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 140,313 shares of the semiconductor manufacturer's stock valued at $85,995,000 after acquiring an additional 138,328 shares during the period. Finally, Douglas Lane & Associates LLC boosted its holdings in Advanced Micro Devices by 2,748.0% during the 3rd quarter. Douglas Lane & Associates LLC now owns 85,952 shares of the semiconductor manufacturer's stock valued at $52,582,000 after acquiring an additional 82,934 shares during the period. 71.34% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Advanced Micro Devices

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

• Positive Sentiment: AMD’s long-term AI opportunity remains a key bullish argument. Analysts point to strong demand for data-center processors and accelerators, improving AI-inference software, and the potential for agentic AI to drive substantial future compute demand. AMD’s Helion rack-scale architecture, developed with an open and modular approach, could broaden its role in AI infrastructure. What Does Advanced Micro Devices AMD Helion Mean For Its AI Ambitions?
• Positive Sentiment: A credit-support agreement connected to Fermi Inc.’s 222-megawatt Texas power lease for Project Matador may help advance AI data-center capacity and could support AMD’s ecosystem and infrastructure ambitions, although related liquidity and lease risks remain. AMD’s Support Could Help Fermi Stock Overcome Its Biggest Hurdle
• Neutral Sentiment: TSMC reported record profits and described AI-chip demand as extremely robust, supporting the underlying demand backdrop for AMD. However, TSMC’s shares also weakened, showing that strong operating results are not currently overcoming broader risk aversion in chip stocks. TSMC Posts Record Profit Amid Extremely Robust Demand for AI Chips
• Negative Sentiment: Rising Treasury yields are increasing the discount rate applied to AMD’s future earnings and raising borrowing costs for AI customers. Fears that hyperscalers and other infrastructure buyers may struggle to finance planned projects have triggered a broad semiconductor sell-off. Rate Pressure vs. AI Demand
• Negative Sentiment: AMD’s sharp year-to-date advance and premium valuation have increased profit-taking risk. Reports also highlight extensive insider selling, with no reported open-market purchases in the cited six-month period, potentially reinforcing investor concerns about valuation and expectations. AMD Stock Surges 183% YTD: Time to Hold or Exit?
• Negative Sentiment: Concerns about an AI-spending reset intensified after weakness in AI-financing markets, including a sell-off in CoreWeave bonds. Investors are questioning whether AI demand, competitive pressure and infrastructure spending can justify current chip valuations. AMD Stock Takes a Bigger Hit as Cracks Emerge in the AI Trade

Insider Activity at Advanced Micro Devices

In related news, EVP Paul Grasby sold 15,000 shares of Advanced Micro Devices stock in a transaction on Monday, August 17th. The shares were sold at an average price of $514.91, for a total value of $7,723,650.00. Following the sale, the executive vice president owned 117,687 shares in the company, valued at $60,598,213.17. The trade was a 11.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Jean X. Hu sold 15,000 shares of the business's stock in a transaction 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 transaction, the executive vice president directly owned 160,979 shares in the company, valued at approximately $76,316,924.32. The trade was a 8.52% 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 have sold 213,838 shares of company stock valued at $105,533,836 over the last 90 days. Company insiders own 0.50% of the company's stock.

Advanced Micro Devices Trading Down 1.5%

AMD opened at $562.23 on Friday. The business has a 50 day simple moving average of $536.11 and a two-hundred day simple moving average of $471.82. The firm has a market capitalization of $917.82 billion, a price-to-earnings ratio of 144.53, a PEG ratio of 5.90 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 one year low of $188.22 and a one year high of $658.52.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The semiconductor manufacturer reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.04. The firm had revenue of $11.54 billion for 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%. The business's quarterly revenue was up 50.1% compared to the same quarter last year. During the same period last year, the company earned $0.48 EPS. Analysts predict that Advanced Micro Devices, Inc. will post 6.45 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Wall Street Zen upgraded Advanced Micro Devices from a "hold" rating to a "buy" rating in a research report on Sunday, October 4th. Truist Financial boosted their price objective on Advanced Micro Devices from $478.00 to $594.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. William Blair reissued a "market perform" rating on shares of Advanced Micro Devices in a research note on Friday, July 24th. Jefferies Financial Group set a $650.00 price objective on Advanced Micro Devices in a research note on Wednesday, August 5th. Finally, Benchmark raised their target price on shares of Advanced Micro Devices from $485.00 to $685.00 and gave the stock a "buy" rating in a report on Wednesday, July 22nd. 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 issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $603.51.

About Advanced Micro Devices

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

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

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.