Citizens & Northern Corp Sells 4,407 Shares of Advanced Micro Devices, Inc. $AMD

Key Points

• Citizens & Northern cut its AMD stake by 34.7% in the third quarter, selling 4,407 shares and retaining 8,311 shares worth about $5.08 million.
• AMD reported quarterly EPS of $2.09, beating estimates of $1.95, while revenue reached $13.38 billion, up 44.7% year over year.
• Analysts’ consensus rating is Moderate Buy, with a $640.11 average price target; insiders have sold 223,588 shares over the past 90 days.

Citizens & Northern Corp lowered its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 34.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,311 shares of the semiconductor manufacturer's stock after selling 4,407 shares during the quarter. Advanced Micro Devices comprises 1.1% of Citizens & Northern Corp's investment portfolio, making the stock its 20th biggest holding. Citizens & Northern Corp's holdings in Advanced Micro Devices were worth $5,084,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of AMD. DecisionPoint Financial LLC boosted its position in shares of Advanced Micro Devices by 79.2% during the 3rd quarter. DecisionPoint Financial LLC now owns 43 shares of the semiconductor manufacturer's stock valued at $26,000 after purchasing an additional 19 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. acquired a new stake in Advanced Micro Devices during the third quarter worth approximately $29,000. JNBA Financial Advisors grew its stake in Advanced Micro Devices by 142.9% during the second quarter. JNBA Financial Advisors now owns 51 shares of the semiconductor manufacturer's stock worth $30,000 after purchasing an additional 30 shares during the period. Graney & King LLC bought a new stake in Advanced Micro Devices in the first quarter worth approximately $31,000. Finally, Main Street Group LTD bought a new stake in Advanced Micro Devices in the first quarter worth approximately $33,000. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Mark Papermaster sold 28,811 shares of the company's stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $471.87, for a total transaction of $13,595,046.57. Following the transaction, the executive vice president directly 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 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 stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $488.69, for a total value of $1,462,649.17. Following the completion of the transaction, the senior vice president owned 26,623 shares in the company, valued at approximately $13,010,393.87. This represents a 10.11% 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. Over the last 90 days, insiders have sold 223,588 shares of company stock valued at $111,208,302. Corporate insiders own 0.50% of the company's stock.

Wall Street Analysts Forecast Growth

AMD has been the topic of several recent analyst reports. Union Gaming Research reissued a "positive" rating on shares of Advanced Micro Devices in a research note on Wednesday, November 4th. Morgan Stanley raised their price objective on shares of Advanced Micro Devices from $465.00 to $510.00 and gave the stock an "equal weight" rating in a research report on Monday, November 2nd. Melius Research set a $650.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, November 4th. KeyCorp downgraded shares of Advanced Micro Devices from an "overweight" rating to a "sector weight" rating in a research report on Thursday. Finally, Susquehanna boosted their target price on shares of Advanced Micro Devices from $620.00 to $650.00 and gave the company a "positive" rating in a research report on Wednesday, October 28th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $640.11.

Key Headlines Impacting Advanced Micro Devices

These are some of the AMD headlines that stood out recently:

• 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
• Positive Sentiment: Reports of Nvidia CEO Jensen Huang’s resignation and the ensuing uncertainty prompted investors to rotate toward rival chipmakers, potentially giving AMD an opportunity to capture market share. Nvidia turmoil and AMD
• 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 Stock Performance

Shares of Advanced Micro Devices stock opened at $585.30 on Friday. The business has a 50-day simple moving average of $552.99 and a 200 day simple moving average of $420.72. Advanced Micro Devices, Inc. has a one year low of $188.22 and a one year high of $658.52. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.72 and a quick ratio of 1.93. The firm has a market capitalization of $959.94 billion, a price-to-earnings ratio of 127.24, a PEG ratio of 5.32 and a beta of 2.49.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings results on Tuesday, November 3rd. The semiconductor manufacturer reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.14. Advanced Micro Devices had a return on equity of 14.15% and a net margin of 16.77%. The business had revenue of $13.38 billion for the quarter, compared to analyst estimates of $13.10 billion. During the same quarter in the prior year, the company earned $1.20 earnings per share. The company's quarterly revenue was up 44.7% on a year-over-year basis. On average, research analysts anticipate that Advanced Micro Devices, Inc. will post 6.93 earnings per share for the current fiscal year.

Advanced Micro Devices 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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