Advanced Micro Devices, Inc. $AMD Stake Cut by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. trimmed its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 10.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,072 shares of the semiconductor manufacturer’s stock after selling 4,306 shares during the period. Pinnacle Associates Ltd.’s holdings in Advanced Micro Devices were worth $23,291,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. BlackRock Inc. grew its holdings 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 worth $87,311,650,000 after acquiring an additional 4,535,126 shares during the period. State Street Corp raised its position 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 worth $46,606,266,000 after acquiring 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 $7,022,226,000. Jennison Associates LLC lifted 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 acquiring an additional 545,575 shares during the period. Finally, 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. 71.34% of the stock is owned by hedge funds and other institutional investors.

Advanced Micro Devices Stock Performance

Shares of AMD stock opened at $552.72 on Thursday. The stock has a fifty day moving average price of $541.00 and a 200 day moving average price of $481.17. The stock has a market cap of $902.30 billion, a PE ratio of 142.09, a P/E/G ratio of 5.49 and a beta of 2.45. Advanced Micro Devices, Inc. has a 1 year low of $188.22 and a 1 year high of $658.52. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.91 and a current ratio of 2.61.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, August 4th. The semiconductor manufacturer reported $1.66 earnings per share 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 revenue was up 50.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.48 earnings per share. Sell-side analysts forecast that Advanced Micro Devices, Inc. will post 6.50 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on AMD. CLSA restated an “outperform” rating and set a $710.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, September 9th. Susquehanna increased their price target on shares of Advanced Micro Devices from $550.00 to $620.00 and gave the company a “positive” rating in a report on Wednesday. Raymond James Financial upgraded shares of Advanced Micro Devices from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $565.00 to $641.00 in a research note on Tuesday, August 25th. Argus raised their price objective on shares of Advanced Micro Devices from $450.00 to $625.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Jefferies Financial Group set a $650.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, August 5th. Three 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $606.76.

Key Stories Impacting Advanced Micro Devices

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

• Positive Sentiment: Higher analyst price target: Susquehanna raised its AMD target from $550 to $620 and maintained a positive rating, citing continued AI and data-center momentum. Wedbush also reaffirmed an Outperform rating with a $600 target.
• Positive Sentiment: Expanding AI infrastructure footprint: Vultr plans to deploy AMD Instinct MI355X GPUs in a 20-megawatt supercluster in Chennai, India. The project would become India’s largest AMD Instinct deployment and strengthens AMD’s position in enterprise and sovereign AI computing. Vultr and AMD Expand Global Collaboration
• Positive Sentiment: Long-term AI opportunity: Coverage highlighted AMD’s planned $8.2 billion investment in emerging AI applications such as robotics, simulation and physical AI. Analysts also view AMD’s server CPU business as a beneficiary of agentic-AI growth, while Anthropic’s large computing commitments reinforce expectations for sustained infrastructure spending.
• Positive Sentiment: Sector tailwinds: Strong updates from Super Micro Computer and SpaceX helped ease concerns about an AI-spending slowdown, lifting major semiconductor names. AMD also contributed to gains in the Nasdaq-100 and broad-market ETFs. Why Nvidia, AMD and Intel Stocks Are Surging
• Neutral Sentiment: Competitive positioning: Investor coverage continues to compare AMD with Nvidia, emphasizing AMD’s exposure to CPUs, GPUs and data-center infrastructure as potential ways to benefit from an AI buildout that may have several years left to run.
• Negative Sentiment: Valuation and earnings risk: AMD has risen sharply this year and trades at a demanding earnings multiple. Investors are focused on the November 3 quarterly report, with the stock vulnerable to disappointment in revenue growth, margins or AI demand guidance. After a 137% Run, Is AMD Priced for Perfection?
• Negative Sentiment: Insider selling: EVP Forrest Norrod sold 17,262 shares worth about $9.3 million under a pre-arranged Rule 10b5-1 plan. Because he retained a substantial position, the transaction is a limited rather than decisive negative signal.

Insider Buying and Selling at Advanced Micro Devices

In related news, EVP Paul Grasby sold 15,000 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $514.91, for a total value of $7,723,650.00. Following the sale, the executive vice president directly owned 117,687 shares in the company, valued at $60,598,213.17. The trade was a 11.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Mark Papermaster sold 28,811 shares of the business’s stock in a transaction dated 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 sale, the executive vice president owned 1,261,461 shares in the company, valued at $595,245,602.07. This represents a 2.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 231,100 shares of company stock worth $114,867,400. Insiders own 0.50% of the company’s stock.

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.