Advanced Micro Devices, Inc. $AMD Shares Sold by Private Advisory Group LLC

Private Advisory Group LLC reduced its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 7.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 57,593 shares of the semiconductor manufacturer’s stock after selling 4,747 shares during the period. Advanced Micro Devices accounts for 1.9% of Private Advisory Group LLC’s portfolio, making the stock its 9th biggest position. Private Advisory Group LLC’s holdings in Advanced Micro Devices were worth $35,233,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the business. BlackRock Inc. raised 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 purchasing an additional 4,535,126 shares during the period. State Street Corp boosted its position in Advanced Micro Devices by 2.9% during the second quarter. State Street Corp now owns 76,920,783 shares of the semiconductor manufacturer’s stock worth $46,606,266,000 after purchasing an additional 2,149,563 shares in the last quarter. Bank of America Corp DE acquired a new stake in Advanced Micro Devices in the second quarter valued at approximately $7,022,226,000. Jennison Associates LLC grew its holdings in Advanced Micro Devices by 5.8% in the second quarter. Jennison Associates LLC now owns 9,972,952 shares of the semiconductor manufacturer’s stock valued at $5,793,388,000 after purchasing an additional 545,575 shares during the period. Finally, Wellington Management Group LLP grew 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 purchasing an additional 2,365,419 shares during the period. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMD has been the subject of several research analyst reports. HC Wainwright initiated coverage on Advanced Micro Devices in a research note on Thursday. They set a “buy” rating for the company. Royal Bank Of Canada reiterated a “sector perform” rating and set a $540.00 target price on shares of Advanced Micro Devices in a research report on Thursday. JPMorgan Chase & Co. lifted their price target on shares of Advanced Micro Devices from $550.00 to $575.00 and gave the company a “neutral” rating in a research note on Wednesday, November 4th. Rosenblatt Securities reissued a “buy” rating and issued a $700.00 price target on shares of Advanced Micro Devices in a report on Wednesday, November 4th. Finally, BTIG Research initiated coverage on shares of Advanced Micro Devices in a report on Thursday. They issued a “buy” rating for the company. Three research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $640.11.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Paul Grasby sold 15,000 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $514.91, for a total value of $7,723,650.00. Following the transaction, the executive vice president owned 117,687 shares in the company, valued at approximately $60,598,213.17. This trade represents a 11.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Forrest Norrod sold 17,262 shares of Advanced Micro Devices stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $540.70, for a total transaction of $9,333,563.40. Following the sale, the executive vice president directly owned 353,317 shares in the company, valued at approximately $191,038,501.90. This trade represents a 4.66% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 223,588 shares of company stock worth $111,208,302 in the last quarter. 0.50% of the stock is owned by insiders.

Top Advanced Micro Devices Stories

Investors following AMD have been watching these stories:

• 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
• Neutral Sentiment: The competitive opening is not assured: Nvidia retains a substantial data-center position, and uncertainty at a rival does not itself guarantee AMD wins orders.

Advanced Micro Devices Price Performance

Shares of Advanced Micro Devices stock opened at $585.30 on Friday. The stock has a market capitalization of $959.94 billion, a P/E ratio of 127.24, a PEG ratio of 5.32 and a beta of 2.49. The business has a 50 day simple moving average of $552.99 and a two-hundred day simple moving average of $420.72. Advanced Micro Devices, Inc. has a 12 month low of $188.22 and a 12 month 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.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, November 3rd. The semiconductor manufacturer reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.14. The firm had revenue of $13.38 billion for the quarter, compared to analyst estimates of $13.10 billion. Advanced Micro Devices had a return on equity of 14.15% and a net margin of 16.77%. The business’s revenue was up 44.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.20 earnings per share. As a group, analysts predict that Advanced Micro Devices, Inc. will post 6.93 EPS for the current fiscal year.

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.