Salem Investment Counselors Inc. Sells 11,410 Shares of Advanced Micro Devices, Inc. $AMD

Key Points

• Salem Investment Counselors reduced its AMD stake by 4.4%, selling 11,410 shares and retaining 250,873 shares valued at approximately $153.6 million. AMD remains the firm’s seventh-largest holding and represents about 3.8% of its portfolio.
• Institutional investors and hedge funds own 71.34% of AMD, with major holders including BlackRock, State Street and Wellington increasing their positions during the second quarter.
• Analysts remain broadly bullish, giving AMD a consensus “Moderate Buy” rating and an average price target of $603.51, although the stock’s high valuation and risks surrounding AI spending and sector-wide profit-taking remain concerns.

Salem Investment Counselors Inc. lessened its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 4.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 250,873 shares of the semiconductor manufacturer's stock after selling 11,410 shares during the quarter. Advanced Micro Devices accounts for about 3.8% of Salem Investment Counselors Inc.'s portfolio, making the stock its 7th largest holding. Salem Investment Counselors Inc.'s holdings in Advanced Micro Devices were worth $153,618,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of AMD. Bank of America Corp DE acquired a new stake in Advanced Micro Devices during the second quarter worth about $7,022,226,000. BlackRock Inc. raised its position in Advanced Micro Devices by 3.1% during the second quarter. BlackRock Inc. now owns 150,301,510 shares of the semiconductor manufacturer's stock valued at $87,311,650,000 after acquiring an additional 4,535,126 shares in the last quarter. Jupiter Topco LLC purchased a new position in Advanced Micro Devices during the second quarter valued at approximately $2,084,651,000. Wellington Management Group LLP lifted its holdings in Advanced Micro Devices by 33.9% in the second 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 during the period. Finally, State Street Corp lifted its holdings in Advanced Micro Devices by 2.9% in the second 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. Institutional investors and hedge funds own 71.34% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on AMD. Weiss Ratings upgraded Advanced Micro Devices from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, October 8th. Susquehanna lifted their target price on shares of Advanced Micro Devices from $450.00 to $500.00 and gave the company a "positive" rating in a report on Thursday, July 30th. Stifel Nicolaus lifted their target price on shares of Advanced Micro Devices from $635.00 to $700.00 and gave the company a "buy" rating in a report on Monday, October 5th. UBS Group reiterated an "overweight" rating on shares of Advanced Micro Devices in a research note on Friday, July 24th. Finally, Roth Capital increased their price target 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. Three analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $603.51.

Key Advanced Micro Devices News

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

• Positive Sentiment: Scaleway selected AMD for a new AI supercomputer in Sweden, providing evidence of customer adoption for AMD’s data-center GPUs and supporting its effort to compete with Nvidia in AI infrastructure. Scaleway to build AMD-powered AI supercomputer in Sweden
• Positive Sentiment: AMD’s Helion open rack blueprint combines EPYC CPUs and Instinct GPUs for agentic-AI workloads and is expected to be available in November. The platform could help AMD sell broader rack-scale systems rather than individual chips. AMD unveils Helion open rack blueprint for agentic AI
• Positive Sentiment: Fermi’s shares surged after announcing AMD financial support and a partnership, highlighting potential demand for AMD-powered computing in energy and AI infrastructure projects. Fermi partnership with AMD
• Neutral Sentiment: Market commentators remain constructive on semiconductor demand. Jim Cramer cited strong chip demand, while analysts highlighted AMD’s CPU growth potential; these views support the long-term outlook but do not immediately change earnings estimates. Jim Cramer on semiconductor stocks
• Negative Sentiment: AMD is being pulled lower by sector-wide profit-taking and risk concerns. Investors are worried that tighter financing could slow AI data-center expansion, while China’s growing semiconductor capabilities intensify competition. Why Intel and AMD stocks are falling
• Negative Sentiment: Valuation remains a key risk. After a substantial rally, AMD trades at a very high earnings multiple, leaving the stock vulnerable if AI revenue growth or customer spending falls short of expectations. Reports that a Trump-linked investment team sold AMD shares in August may also weigh on sentiment, although the sale is not a current company fundamental. Trump investment team AMD sale

Advanced Micro Devices Stock Performance

NASDAQ AMD opened at $605.53 on Wednesday. The stock has a market capitalization of $988.51 billion, a price-to-earnings ratio of 155.66, a PEG ratio of 6.15 and a beta of 2.45. The stock has a 50-day moving average of $532.88 and a 200 day moving average of $466.70. The company has a current ratio of 2.61, a quick ratio of 1.91 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a twelve month low of $188.22 and a twelve month 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 EPS for the quarter, beating the consensus estimate of $1.62 by $0.04. The company 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%. Advanced Micro Devices'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 earnings per share. Sell-side analysts anticipate that Advanced Micro Devices, Inc. will post 6.45 EPS for the current fiscal year.

Insider Buying and Selling at Advanced Micro Devices

In related news, EVP Jean X. Hu sold 15,000 shares of Advanced Micro Devices stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $474.08, for a total value of $7,111,200.00. Following the sale, the executive vice president owned 160,979 shares of the company's stock, valued at approximately $76,316,924.32. This trade represents a 8.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Paul Grasby sold 15,000 shares of the company's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $514.91, for a total transaction of $7,723,650.00. Following the transaction, the executive vice president owned 117,687 shares of the company's stock, valued at $60,598,213.17. This represents a 11.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 213,838 shares of company stock worth $105,533,836. 0.50% of the stock is currently owned by corporate insiders.

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.

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