Advanced Micro Devices, Inc. $AMD Stock Holdings Reduced by Gen Wealth Partners Inc

Gen Wealth Partners Inc reduced its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 32.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,688 shares of the semiconductor manufacturer’s stock after selling 1,279 shares during the quarter. Gen Wealth Partners Inc’s holdings in Advanced Micro Devices were worth $1,645,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of America Corp DE acquired a new stake in Advanced Micro Devices during the 2nd quarter valued at approximately $7,022,226,000. BlackRock Inc. grew its position in Advanced Micro Devices by 3.1% during 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. Jupiter Topco LLC acquired a new stake in Advanced Micro Devices during the 2nd quarter worth about $2,084,651,000. Wellington Management Group LLP grew its position in Advanced Micro Devices by 33.9% during the 2nd quarter. Wellington Management Group LLP now owns 9,334,396 shares of the semiconductor manufacturer’s stock worth $5,422,444,000 after purchasing an additional 2,365,419 shares during the period. Finally, State Street Corp raised its stake in shares of Advanced Micro Devices by 2.9% during the 2nd quarter. State Street Corp now owns 76,920,783 shares of the semiconductor manufacturer’s stock valued at $46,606,266,000 after buying an additional 2,149,563 shares during the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

Advanced Micro Devices Stock Up 13.3%

AMD stock opened at $508.58 on Tuesday. The firm has a market cap of $830.24 billion, a PE ratio of 110.56, a P/E/G ratio of 5.01 and a beta of 2.49. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.91 and a current ratio of 2.72. The firm’s fifty day moving average is $547.67 and its 200 day moving average is $416.28. Advanced Micro Devices, Inc. has a one year low of $188.22 and a one year high of $658.52.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data on Tuesday, November 3rd. The semiconductor manufacturer reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.14. The company 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 firm’s revenue for the quarter was up 44.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.20 earnings per share. On average, research analysts forecast that Advanced Micro Devices, Inc. will post 6.59 EPS for the current year.

Wall Street Analysts Forecast Growth

AMD has been the subject of several analyst reports. The Goldman Sachs Group reissued a “buy” rating and issued a $675.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, November 4th. Wolfe Research restated an “outperform” rating and issued a $650.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, November 4th. HSBC reaffirmed a “hold” rating and set a $540.00 target price on shares of Advanced Micro Devices in a report on Thursday. Truist Financial lifted their price target on Advanced Micro Devices from $594.00 to $605.00 and gave the company a “buy” rating in a research report on Wednesday, November 4th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $700.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, November 4th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $642.47.

Advanced Micro Devices News Summary

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

• Positive Sentiment: Google Cloud is using AMD’s 5th Gen EPYC processors for host infrastructure supporting its TPU 8tx system. The deal expands AMD’s role in large-scale AI infrastructure, although it is a CPU infrastructure win rather than a selection of AMD’s AI accelerators. AMD announcement on Google Cloud
• Positive Sentiment: Oppenheimer upgraded AMD to Outperform and set a $600 price target, citing accelerating sales and forecasting 135% data-center revenue growth next year. The call helped bolster confidence in AMD’s AI growth outlook. CNBC report on Oppenheimer upgrade
• Positive Sentiment: Recent quarterly results provided additional support: revenue rose 45% year over year, with data-center revenue up 97%, and management expects revenue growth to accelerate. A broader technology-sector rally also helped lift sentiment. Quarterly results and outlook
• Neutral Sentiment: AMD also benefited as investors looked for alternatives amid pressure on Nvidia, though analysts noted that chipmakers could face increased scrutiny of sales practices. MarketWatch analysis
• Negative Sentiment: A reported Radeon GPU bug affecting SSD lifespan is a product concern, although it did not prevent the rally. Commentary also flagged elevated valuation and rising inventory as risks to sustaining gains. TipRanks report on Radeon GPU bug

Insider Activity

In related news, EVP Forrest Norrod sold 17,262 shares of Advanced Micro Devices stock in a transaction dated 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 owned 353,317 shares in the company, valued at $191,038,501.90. The trade was a 4.66% decrease in their position. The sale was disclosed in a document filed 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, CEO Lisa Su sold 25,000 shares of Advanced Micro Devices stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $506.79, for a total value of $12,669,750.00. Following the completion of the transaction, the chief executive officer owned 74,211 shares of the company’s stock, valued at approximately $37,609,392.69. This represents a 25.20% 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. Over the last three months, insiders sold 230,957 shares of company stock worth $114,799,511. 0.50% of the stock is currently owned by corporate insiders.

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.