Advanced Micro Devices, Inc. $AMD Shares Sold by Cidel Asset Management Inc.

Cidel Asset Management Inc. lowered its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 38.5% in the second quarter, Holdings Channel reports. The firm owned 34,494 shares of the semiconductor manufacturer’s stock after selling 21,579 shares during the quarter. Cidel Asset Management Inc.’s holdings in Advanced Micro Devices were worth $20,038,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC raised its stake in shares of Advanced Micro Devices by 178.2% during the fourth quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer’s stock worth $5,551,000 after purchasing an additional 29,438 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Advanced Micro Devices by 2.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer’s stock worth $1,001,000 after buying an additional 234 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in Advanced Micro Devices by 125.1% in the second quarter. Sivia Capital Partners LLC now owns 5,344 shares of the semiconductor manufacturer’s stock valued at $758,000 after acquiring an additional 2,970 shares during the period. United Bank boosted its position in shares of Advanced Micro Devices by 22.0% during the 2nd quarter. United Bank now owns 13,255 shares of the semiconductor manufacturer’s stock worth $1,881,000 after purchasing an additional 2,392 shares in the last quarter. Finally, Schnieders Capital Management LLC. grew its stake in shares of Advanced Micro Devices by 361.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 9,230 shares of the semiconductor manufacturer’s stock worth $1,310,000 after purchasing an additional 7,228 shares during the period. 71.34% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Advanced Micro Devices

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

• Positive Sentiment: AMD CFO Jean Hu raised the company’s estimated 2030 total addressable market to as much as $3 trillion, up from approximately $2 trillion. The company also increased its long-term server-CPU market estimate, reinforcing the bullish view of AI infrastructure demand. AMD Stock Rises as CFO Claims Its Addressable Market Could Reach $3 Trillion
• Positive Sentiment: Coverage highlights AMD’s growing presence in data centers through EPYC server CPUs, Instinct GPUs and Helios rack-scale systems. The company’s AI hardware and software push, along with its OpenAI GPU relationship, supports the possibility of faster growth relative to Nvidia over the next several years. Prediction: AMD Stock Could Outrun Nvidia Over the Next 3 Years
• Positive Sentiment: A newly discussed, high-end AI workstation capable of running very large models locally expands AMD’s opportunity beyond cloud providers and could appeal to enterprises with sensitive AI workloads. AMD Just Put 300 Billion-Parameter AI Models on a Desktop

Insider Activity

In other Advanced Micro Devices news, EVP Mark Papermaster sold 28,811 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $471.87, for a total transaction of $13,595,046.57. Following the completion of the transaction, the executive vice president owned 1,261,461 shares of the company’s stock, valued at approximately $595,245,602.07. This trade represents a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Ava Hahn sold 2,993 shares of the business’s stock in a transaction on Tuesday, August 18th. The stock was 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 of the company’s stock, valued at approximately $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 107,577 shares of company stock worth $51,922,920 in the last quarter. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Advanced Micro Devices from $385.00 to $550.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Truist Financial increased their target price on shares of Advanced Micro Devices from $478.00 to $594.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Cantor Fitzgerald reissued an “overweight” rating and set a $700.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, August 5th. Argus upped their price target on Advanced Micro Devices from $450.00 to $625.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Stifel Nicolaus raised their price objective on Advanced Micro Devices from $450.00 to $635.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Three research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $557.62.

Advanced Micro Devices Stock Performance

Shares of AMD opened at $505.74 on Wednesday. Advanced Micro Devices, Inc. has a 12-month low of $149.85 and a 12-month high of $584.73. The stock has a market cap of $825.61 billion, a P/E ratio of 130.01, a PEG ratio of 4.95 and a beta of 2.48. The company has a current ratio of 2.61, a quick ratio of 1.91 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average of $496.46 and a two-hundred day moving average of $398.67.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, August 4th. The semiconductor manufacturer reported $1.66 EPS for the quarter, beating the consensus estimate of $1.62 by $0.04. Advanced Micro Devices had a net margin of 15.58% and a return on equity of 12.30%. The business had revenue of $11.54 billion for the quarter, compared to analyst estimates of $11.31 billion. During the same period in the prior year, the business earned $0.48 earnings per share. The company’s quarterly revenue was up 50.1% on a year-over-year basis. As a group, research analysts predict that Advanced Micro Devices, Inc. will post 6.44 EPS for the current fiscal year.

Advanced Micro Devices Company Profile

Advanced Micro Devices, Inc (NASDAQ: AMD) is a semiconductor company that designs high-performance computing, graphics and adaptive-processing products. Its portfolio includes central processing units (CPUs), graphics processing units (GPUs), accelerated processing units (APUs), field-programmable gate arrays (FPGAs) and adaptive system-on-chip products.

AMD serves customers across data centers, cloud computing, personal computers, gaming consoles, embedded systems and industrial applications.