Capital Advantage Inc. Sells 5,783 Shares of Advanced Micro Devices, Inc. $AMD

Key Points

• Capital Advantage Inc. cut its AMD position by 23.7% in the second quarter, selling 5,783 shares and retaining 18,668 shares valued at approximately $10.8 million.
• AMD reported quarterly EPS of $1.66 and revenue of $11.54 billion, exceeding analyst expectations; revenue increased 50.1% year over year.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $557.62, while institutional investors own 71.34% of AMD and insiders have been net sellers recently.

Capital Advantage Inc. trimmed its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 23.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,668 shares of the semiconductor manufacturer's stock after selling 5,783 shares during the quarter. Advanced Micro Devices makes up 1.3% of Capital Advantage Inc.'s holdings, making the stock its 22nd largest position. Capital Advantage Inc.'s holdings in Advanced Micro Devices were worth $10,844,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. California State Teachers Retirement System raised its stake in Advanced Micro Devices by 58,272.0% in the second quarter. California State Teachers Retirement System now owns 1,436,775,740 shares of the semiconductor manufacturer's stock valued at $834,637,395,000 after buying an additional 1,434,314,328 shares during the period. BlackRock Inc. boosted its stake in shares of Advanced Micro Devices by 3.1% during the 2nd quarter. BlackRock Inc. now owns 150,301,510 shares of the semiconductor manufacturer's stock worth $87,311,650,000 after acquiring an additional 4,535,126 shares during the period. State Street Corp boosted its stake in shares of Advanced Micro Devices by 1.5% during the 4th quarter. State Street Corp now owns 74,919,276 shares of the semiconductor manufacturer's stock worth $16,044,712,000 after acquiring an additional 1,094,835 shares during the period. Geode Capital Management LLC boosted its stake in shares of Advanced Micro Devices by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 37,584,845 shares of the semiconductor manufacturer's stock worth $8,015,897,000 after acquiring an additional 287,525 shares during the period. Finally, Norges Bank acquired a new position in shares of Advanced Micro Devices during the 4th quarter worth approximately $4,929,312,000. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Advanced Micro Devices Stock Up 5.9%

AMD stock opened at $505.74 on Wednesday. Advanced Micro Devices, Inc. has a 52 week low of $149.85 and a 52 week high of $584.73. The business has a 50-day simple moving average of $496.46 and a 200 day simple moving average of $398.67. The company has a quick ratio of 1.91, a current ratio of 2.61 and a debt-to-equity ratio of 0.03. The company has a market cap of $825.61 billion, a PE ratio of 130.01, a price-to-earnings-growth ratio of 4.95 and a beta of 2.48.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The semiconductor manufacturer reported $1.66 earnings per share (EPS) 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 the consensus estimate of $11.31 billion. Advanced Micro Devices had a net margin of 15.58% and a return on equity of 12.30%. The business's revenue for the quarter was up 50.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.48 earnings per share. Sell-side analysts anticipate that Advanced Micro Devices, Inc. will post 6.44 EPS for the current fiscal year.

Insider Buying and Selling at Advanced Micro Devices

In related news, EVP Forrest Norrod sold 17,261 shares of Advanced Micro Devices stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $459.95, for a total value of $7,939,196.95. Following the transaction, the executive vice president directly owned 373,317 shares of the company's stock, valued at $171,707,154.15. This trade represents a 4.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Ava Hahn sold 2,993 shares of the business's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $488.69, for a total transaction of $1,462,649.17. Following the transaction, the senior vice president owned 26,623 shares of the company's stock, valued at approximately $13,010,393.87. This represents a 10.11% 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 have sold a total of 107,577 shares of company stock worth $51,922,920 in the last three months. Company insiders own 0.50% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Argus increased their price target on Advanced Micro Devices from $450.00 to $625.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Wolfe Research set a $450.00 price objective on shares of Advanced Micro Devices and gave the company an "outperform" rating in a report on Monday, June 15th. Rosenblatt Securities increased their price objective on shares of Advanced Micro Devices from $665.00 to $700.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Wall Street Zen raised shares of Advanced Micro Devices from a "hold" rating to a "buy" rating in a research report on Saturday, August 29th. Finally, Bank of America raised their target price on shares of Advanced Micro Devices from $550.00 to $620.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Three analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $557.62.

Trending Headlines about Advanced Micro Devices

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

• Positive Sentiment: AMD CFO Jean Hu raised the company’s estimated 2030 total addressable market to as much as $3 trillion, up from approximately $2 trillion. The company also increased its long-term server-CPU market estimate, reinforcing the bullish view of AI infrastructure demand. AMD Stock Rises as CFO Claims Its Addressable Market Could Reach $3 Trillion
• Positive Sentiment: Coverage highlights AMD’s growing presence in data centers through EPYC server CPUs, Instinct GPUs and Helios rack-scale systems. The company’s AI hardware and software push, along with its OpenAI GPU relationship, supports the possibility of faster growth relative to Nvidia over the next several years. Prediction: AMD Stock Could Outrun Nvidia Over the Next 3 Years
• Positive Sentiment: A newly discussed, high-end AI workstation capable of running very large models locally expands AMD’s opportunity beyond cloud providers and could appeal to enterprises with sensitive AI workloads. AMD Just Put 300 Billion-Parameter AI Models on a Desktop

Advanced Micro Devices 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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