Convergence Financial LLC Sells 1,079 Shares of Advanced Micro Devices, Inc. $AMD

Convergence Financial LLC lessened its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 28.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,771 shares of the semiconductor manufacturer’s stock after selling 1,079 shares during the quarter. Convergence Financial LLC’s holdings in Advanced Micro Devices were worth $1,695,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Parametrica Management Ltd bought a new position in Advanced Micro Devices in the 3rd quarter valued at about $2,447,000. M & L Capital Management Ltd increased its holdings in Advanced Micro Devices by 3,332.4% during the 3rd quarter. M & L Capital Management Ltd now owns 58,350 shares of the semiconductor manufacturer’s stock worth $35,696,000 after purchasing an additional 56,650 shares in the last quarter. Generali Asset Management SPA SGR increased its holdings in Advanced Micro Devices by 2.0% during the 3rd quarter. Generali Asset Management SPA SGR now owns 143,136 shares of the semiconductor manufacturer’s stock worth $87,565,000 after purchasing an additional 2,872 shares in the last quarter. Jacobsen Capital Management bought a new stake in Advanced Micro Devices during the 3rd quarter worth approximately $2,196,000. Finally, Asset Management One Co. Ltd. raised its stake in shares of Advanced Micro Devices by 1.8% in the third quarter. Asset Management One Co. Ltd. now owns 775,725 shares of the semiconductor manufacturer’s stock worth $474,558,000 after purchasing an additional 13,516 shares during the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AMD. Robert W. Baird set a $1,250.00 target price on Advanced Micro Devices in a report on Friday, July 24th. JPMorgan Chase & Co. upped their price target on Advanced Micro Devices from $385.00 to $550.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Bank of America upped their price target on Advanced Micro Devices from $620.00 to $720.00 and gave the stock a “buy” rating in a report on Friday, September 25th. CLSA reissued an “outperform” rating and issued a $710.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, September 9th. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $650.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, August 5th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $607.57.

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 stock was sold at an average price of $474.08, for a total transaction of $7,111,200.00. Following the sale, the executive vice president directly owned 160,979 shares in the company, valued at approximately $76,316,924.32. This trade represents a 8.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Forrest Norrod sold 17,262 shares of the business’s stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $540.70, for a total value of $9,333,563.40. Following the completion of the transaction, the executive vice president directly owned 353,317 shares in the company, valued at approximately $191,038,501.90. This represents a 4.66% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 231,100 shares of company stock valued at $114,867,400 in the last ninety days. 0.50% of the stock is owned by corporate insiders.

Advanced Micro Devices Trading Up 3.2%

NASDAQ:AMD opened at $578.44 on Thursday. Advanced Micro Devices, Inc. has a 52 week low of $188.22 and a 52 week high of $658.52. The firm has a 50-day moving average price of $545.58 and a two-hundred day moving average price of $405.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.91 and a current ratio of 2.61. The firm has a market cap of $944.29 billion, a price-to-earnings ratio of 148.70, a price-to-earnings-growth ratio of 5.30 and a beta of 2.45.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, August 4th. The semiconductor manufacturer reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.04. The firm had revenue of $11.54 billion for the quarter, compared to the consensus estimate of $11.31 billion. Advanced Micro Devices had a return on equity of 12.30% and a net margin of 15.58%. The company’s revenue was up 50.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.48 EPS. On average, equities analysts expect that Advanced Micro Devices, Inc. will post 6.50 earnings per share for the current fiscal year.

Key Headlines Impacting Advanced Micro Devices

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

• Positive Sentiment: AMD will invest $1 billion in Meta’s equity offering as the companies expand their AI infrastructure relationship. Meta is testing AMD Helios rack-scale systems, uses EPYC processors and Instinct GPUs, and plans to deploy a customized Instinct accelerator. The agreement strengthens AMD’s visibility with a major hyperscaler and supports the company’s strategy of competing with Nvidia in AI computing. AMD to Invest $1 Billion in Meta as Companies Expand AI Infrastructure Partnership
• Positive Sentiment: Investors are positioning ahead of the November 3 earnings report. Expectations call for continued data-center momentum from EPYC server CPUs and Instinct AI accelerators, while AMD’s agreements with Meta and OpenAI covering potentially large GPU deployments reinforce the growth outlook. Dear AMD Stock Fans, Mark Your Calendar for November 3
• Positive Sentiment: Susquehanna raised its AMD price target to $650 from $620 and maintained a positive rating. Aletheia Capital separately lifted its target to $800 with a Buy rating, reflecting optimism about AI and data-center growth. Susquehanna Adjusts Price Target on Advanced Micro Devices to $650 From $620
• Neutral Sentiment: AMD also benefited from a broader semiconductor rally after strong results from SK Hynix, lifting sentiment across AI-chip stocks. AMD, Broadcom, and Micron Stocks Lead Chip Sector Higher
• Negative Sentiment: Valuation remains a key risk. Commentary notes AMD’s rapid run-up, high earnings multiple and increasing competition from Nvidia, while ARK Invest has continued selling AMD shares. Higher TSMC wafer and advanced-packaging prices could also pressure AMD’s margins if costs cannot be passed to customers. Taiwan Semiconductor Flexes Pricing Power on AI’s Frontline

About Advanced Micro Devices

Advanced Micro Devices, Inc (NASDAQ: AMD) is a global semiconductor company that designs high-performance computing, graphics and adaptive computing products. Its offerings serve data centers, personal computers, gaming systems, embedded markets and other specialized applications.

AMD’s product portfolio includes Ryzen processors for desktop and notebook computers, EPYC server processors, Radeon graphics processing units, and Instinct accelerators for artificial intelligence and high-performance computing.