Lockheed Martin Investment Management Co. Sells 5,390 Shares of Advanced Micro Devices, Inc. $AMD

Key Points

• Lockheed Martin Investment Management cut its AMD stake by 31.5% in the third quarter, selling 5,390 shares and retaining 11,720 shares valued at about $7.17 million.
• AMD reported quarterly EPS of $2.09, beating the $1.95 consensus, while revenue of $13.38 billion exceeded expectations and rose 44.7% year over year.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $642.47; institutional investors own 71.34% of AMD shares.

Lockheed Martin Investment Management Co. lessened its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 31.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,720 shares of the semiconductor manufacturer's stock after selling 5,390 shares during the period. Lockheed Martin Investment Management Co.'s holdings in Advanced Micro Devices were worth $7,170,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. grew its holdings in Advanced Micro Devices by 3.1% in the 2nd quarter. BlackRock Inc. now owns 150,301,510 shares of the semiconductor manufacturer's stock worth $87,311,650,000 after buying an additional 4,535,126 shares in the last quarter. State Street Corp increased its position in Advanced Micro Devices by 2.9% in the 2nd quarter. State Street Corp now owns 76,920,783 shares of the semiconductor manufacturer's stock valued at $46,606,266,000 after acquiring an additional 2,149,563 shares during the period. Bank of America Corp DE bought a new stake in Advanced Micro Devices during the 2nd quarter valued at $7,022,226,000. Jennison Associates LLC raised its stake in Advanced Micro Devices by 5.8% during the 2nd quarter. Jennison Associates LLC now owns 9,972,952 shares of the semiconductor manufacturer's stock valued at $5,793,388,000 after acquiring an additional 545,575 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in Advanced Micro Devices by 33.9% during the 2nd quarter. Wellington Management Group LLP now owns 9,334,396 shares of the semiconductor manufacturer's stock valued at $5,422,444,000 after acquiring an additional 2,365,419 shares in the last quarter. Institutional investors own 71.34% of the company's stock.

Advanced Micro Devices Stock Performance

AMD opened at $508.58 on Tuesday. The business has a 50 day moving average price of $547.67 and a two-hundred day moving average price of $416.28. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.72 and a quick ratio of 1.91. The company has a market capitalization of $830.24 billion, a price-to-earnings ratio of 110.56, a price-to-earnings-growth ratio of 5.01 and a beta of 2.49. Advanced Micro Devices, Inc. has a 1-year low of $188.22 and a 1-year high of $658.52.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings results on Tuesday, November 3rd. The semiconductor manufacturer reported $2.09 earnings per share (EPS) for the quarter, beating 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 company had revenue of $13.38 billion for the quarter, compared to analysts' expectations of $13.10 billion. During the same period last year, the firm earned $1.20 EPS. The firm's revenue for the quarter was up 44.7% on a year-over-year basis. Research analysts predict that Advanced Micro Devices, Inc. will post 6.59 EPS for the current fiscal year.

Trending Headlines about Advanced Micro Devices

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

• Positive Sentiment: Google Cloud is using AMD’s 5th Gen EPYC processors for host infrastructure supporting its TPU 8tx system. The deal expands AMD’s role in large-scale AI infrastructure, although it is a CPU infrastructure win rather than a selection of AMD’s AI accelerators. AMD announcement on Google Cloud
• Positive Sentiment: Oppenheimer upgraded AMD to Outperform and set a $600 price target, citing accelerating sales and forecasting 135% data-center revenue growth next year. The call helped bolster confidence in AMD’s AI growth outlook. CNBC report on Oppenheimer upgrade
• Positive Sentiment: Recent quarterly results provided additional support: revenue rose 45% year over year, with data-center revenue up 97%, and management expects revenue growth to accelerate. A broader technology-sector rally also helped lift sentiment. Quarterly results and outlook
• Neutral Sentiment: AMD also benefited as investors looked for alternatives amid pressure on Nvidia, though analysts noted that chipmakers could face increased scrutiny of sales practices. MarketWatch analysis
• Negative Sentiment: A reported Radeon GPU bug affecting SSD lifespan is a product concern, although it did not prevent the rally. Commentary also flagged elevated valuation and rising inventory as risks to sustaining gains. TipRanks report on Radeon GPU bug

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, CEO Lisa T. Su sold 70,000 shares of the business's stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $506.80, for a total value of $35,476,000.00. Following the sale, the chief executive officer directly owned 3,032,156 shares in the company, valued at approximately $1,536,696,660.80. The trade was a 2.26% decrease in their ownership of the stock. The sale was disclosed in a legal 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, EVP Forrest Norrod sold 17,262 shares of the company's stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $540.70, for a total transaction of $9,333,563.40. Following the completion of the sale, the executive vice president directly owned 353,317 shares of the company's stock, valued at $191,038,501.90. The trade was a 4.66% 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. Over the last three months, insiders have sold 230,957 shares of company stock valued at $114,799,511. Corporate insiders own 0.50% of the company's stock.

Wall Street Analysts Forecast Growth

AMD has been the subject of several recent analyst reports. Wells Fargo & Company decreased their price target on Advanced Micro Devices from $700.00 to $650.00 and set an "overweight" rating for the company in a research note on Wednesday, November 4th. Royal Bank Of Canada set a $675.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, November 4th. Roth Capital upped their price objective on shares of Advanced Micro Devices from $500.00 to $650.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Stifel Nicolaus upped their price objective on shares of Advanced Micro Devices from $700.00 to $725.00 and gave the stock a "buy" rating in a report on Wednesday, November 4th. Finally, Bank of America decreased their target price on shares of Advanced Micro Devices from $720.00 to $650.00 and set a "buy" rating for the company in a research report on Wednesday, November 4th. Three research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $642.47.

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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