3,259 Advanced Micro Devices, Inc. $AMD Shares Sold by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. reduced its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 45.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 3,884 shares of the semiconductor manufacturer’s stock after selling 3,259 shares during the period. Confluence Wealth Services Inc.’s holdings in Advanced Micro Devices were worth $2,376,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on AMD shares. Truist Financial increased their price objective on Advanced Micro Devices from $594.00 to $605.00 and gave the stock a “buy” rating in a report on Wednesday, November 4th. Piper Sandler boosted their target price on shares of Advanced Micro Devices from $600.00 to $650.00 and gave the company an “overweight” rating in a report on Wednesday, November 4th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Advanced Micro Devices in a research report on Wednesday, November 4th. Mizuho reduced their target price on shares of Advanced Micro Devices from $705.00 to $610.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 4th. 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 research note on Friday, July 24th. Three analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Advanced Micro Devices has a consensus rating of “Moderate Buy” and a consensus price target of $642.47.

Advanced Micro Devices Stock Performance

Shares of AMD stock opened at $552.90 on Thursday. The company has a market capitalization of $906.81 billion, a price-to-earnings ratio of 120.20, a price-to-earnings-growth ratio of 4.96 and a beta of 2.49. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.93 and a current ratio of 2.72. Advanced Micro Devices, Inc. has a one year low of $188.22 and a one year high of $658.52. The company’s 50-day moving average is $550.43 and its 200 day moving average is $419.05.

Advanced Micro Devices (NASDAQ:AMD) last issued its 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. The business had revenue of $13.38 billion during the quarter, compared to analysts’ expectations of $13.10 billion. Advanced Micro Devices had a net margin of 16.77% and a return on equity of 14.15%. The business’s revenue for the quarter was up 44.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.20 earnings per share. Sell-side analysts expect that Advanced Micro Devices, Inc. will post 6.93 EPS for the current fiscal year.

Insider Activity at Advanced Micro Devices

In related news, EVP Mark Papermaster sold 28,811 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $471.87, for a total value of $13,595,046.57. Following the completion of the transaction, the executive vice president directly owned 1,261,461 shares in the company, valued at $595,245,602.07. The trade was a 2.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Ava Hahn sold 2,993 shares of the company’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 value of $1,462,649.17. Following the completion of the transaction, the senior vice president directly owned 26,623 shares in the company, valued at $13,010,393.87. This trade represents a 10.11% 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 230,957 shares of company stock valued at $114,799,511 over the last ninety days. Corporate insiders own 0.50% of the company’s stock.

More Advanced Micro Devices News

Here’s some of the latest news about AMD:

• Positive Sentiment: CoreWeave’s better-than-expected results and improved outlook revived confidence in AI infrastructure spending, lifting chip stocks. Why Advanced Micro Devices Stock Popped Today
• Positive Sentiment: Google’s selection of AMD’s fifth-generation EPYC processors for its TPU 8tx system, alongside the launch of new EPYC CPUs, reinforced AMD’s opportunity in cloud and AI server workloads. What Is Going on With AMD Stock on Wednesday?
• Positive Sentiment: Anthropic’s claim that its Mythos model got Claude running on AMD chips in roughly three days raised the possibility that AI software could become less dependent on Nvidia’s CUDA platform—potentially broadening AMD’s appeal, though adoption remains to be proven. Anthropic’s Mythos claim and Nvidia’s CUDA moat

Advanced Micro Devices Company 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.