Advanced Micro Devices, Inc. $AMD Stock: M&G PLC Cuts Stake

M&G PLC trimmed its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 100.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,650 shares of the semiconductor manufacturer’s stock after selling 27,736,112 shares during the quarter. M&G PLC’s holdings in Advanced Micro Devices were worth $1,010,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Southpoint Capital Advisors LP increased its holdings in Advanced Micro Devices by 50.0% in the 1st quarter. Southpoint Capital Advisors LP now owns 900,000 shares of the semiconductor manufacturer’s stock valued at $183,087,000 after acquiring an additional 300,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Advanced Micro Devices by 6.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,142,516 shares of the semiconductor manufacturer’s stock valued at $1,045,954,000 after purchasing an additional 291,165 shares during the last quarter. Ferguson Wellman Capital Management Inc. boosted its holdings in shares of Advanced Micro Devices by 6,968.7% during the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 140,313 shares of the semiconductor manufacturer’s stock valued at $85,995,000 after purchasing an additional 138,328 shares during the last quarter. Douglas Lane & Associates LLC grew its position in shares of Advanced Micro Devices by 2,748.0% during the third quarter. Douglas Lane & Associates LLC now owns 85,952 shares of the semiconductor manufacturer’s stock valued at $52,582,000 after purchasing an additional 82,934 shares in the last quarter. Finally, Nan Shan Life Insurance Co. Ltd. grew its position in shares of Advanced Micro Devices by 1,288.6% during the second quarter. Nan Shan Life Insurance Co. Ltd. now owns 220,170 shares of the semiconductor manufacturer’s stock valued at $127,899,000 after purchasing an additional 204,315 shares in the last quarter. Institutional investors own 71.34% of the company’s stock.

Insider Activity

In related news, 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 transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lisa Su sold 25,000 shares of the company’s stock in a transaction on 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 directly owned 74,211 shares in the company, valued at $37,609,392.69. This trade represents a 25.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 230,957 shares of company stock worth $114,799,511 in the last three months. Corporate insiders own 0.50% of the company’s stock.

More Advanced Micro Devices News

These are some of the AMD news items that stood out recently:

• Positive Sentiment: Google’s selection of AMD’s fifth-generation EPYC processors for its TPU 8tx system, alongside the launch of new EPYC CPUs, reinforced AMD’s opportunity in cloud and AI server workloads. What Is Going on With AMD Stock on Wednesday?
• Neutral Sentiment: AMD held up as technology shares weakened late amid news concerning Nvidia’s CEO. Any longer-term benefit from competitor disruption is uncertain, since customers must make actual supplier changes for AMD to gain lasting business. Techs Tumble Late; AI Stocks Slide, but Not AMD
• Negative Sentiment: Investors still face concerns about AMD’s premium valuation, decelerating data-center growth, weaker free cash flow and rising inventory. These factors could limit the rally if expected AI demand does not translate into sustained earnings and cash generation. Lisa Su Just Delivered Fantastic News for AMD Investors

Analyst Upgrades and Downgrades

AMD has been the topic of a number of research analyst reports. Raymond James Financial reiterated a “strong-buy” rating and issued a $649.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, November 4th. Union Gaming Research reaffirmed a “positive” rating on shares of Advanced Micro Devices in a research note on Wednesday, November 4th. Roth Capital upped their price objective on Advanced Micro Devices from $500.00 to $650.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Wedbush reissued an “outperform” rating and issued a $600.00 target price on shares of Advanced Micro Devices in a report on Wednesday, November 4th. Finally, Argus boosted their price target on shares of Advanced Micro Devices from $450.00 to $625.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Three research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $642.47.

Advanced Micro Devices Trading Up 7.3%

AMD opened at $552.90 on Thursday. The firm has a market cap of $906.81 billion, a P/E ratio of 120.20, a P/E/G ratio of 4.96 and a beta of 2.49. Advanced Micro Devices, Inc. has a 12 month low of $188.22 and a 12 month high of $658.52. The company has a current ratio of 2.72, a quick ratio of 1.93 and a debt-to-equity ratio of 0.10. The stock has a 50-day moving average of $550.43 and a 200 day moving average of $419.05.

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

Advanced Micro Devices 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.