Advanced Micro Devices, Inc. $AMD Shares Sold by Harbour Investments Inc.

Harbour Investments Inc. decreased its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 12.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,589 shares of the semiconductor manufacturer’s stock after selling 4,223 shares during the quarter. Harbour Investments Inc.’s holdings in Advanced Micro Devices were worth $18,713,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in AMD. Southpoint Capital Advisors LP grew its position in Advanced Micro Devices by 50.0% during the 1st quarter. Southpoint Capital Advisors LP now owns 900,000 shares of the semiconductor manufacturer’s stock valued at $183,087,000 after purchasing an additional 300,000 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in 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 in the last quarter. Ferguson Wellman Capital Management Inc. raised its holdings in Advanced Micro Devices by 6,968.7% in the third quarter. Ferguson Wellman Capital Management Inc. now owns 140,313 shares of the semiconductor manufacturer’s stock worth $85,995,000 after buying an additional 138,328 shares during the last quarter. Douglas Lane & Associates LLC raised its holdings in Advanced Micro Devices by 2,748.0% in the third quarter. Douglas Lane & Associates LLC now owns 85,952 shares of the semiconductor manufacturer’s stock worth $52,582,000 after buying an additional 82,934 shares during the last quarter. Finally, Nan Shan Life Insurance Co. Ltd. raised its holdings in Advanced Micro Devices by 1,288.6% in the second quarter. Nan Shan Life Insurance Co. Ltd. now owns 220,170 shares of the semiconductor manufacturer’s stock worth $127,899,000 after buying an additional 204,315 shares during the last quarter. 71.34% of the stock is owned by institutional investors.

Advanced Micro Devices Stock Performance

NASDAQ:AMD traded down $51.24 during mid-day trading on Friday, reaching $534.06. The company’s stock had a trading volume of 49,061,909 shares, compared to its average volume of 33,352,236. Advanced Micro Devices, Inc. has a 12-month low of $188.22 and a 12-month high of $658.52. The firm’s fifty day moving average price is $554.55 and its two-hundred day moving average price is $422.13. 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 market cap of $875.90 billion, a P/E ratio of 116.10, a PEG ratio of 5.63 and a beta of 2.49.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, November 3rd. The semiconductor manufacturer reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.14. The firm had revenue of $13.38 billion for the quarter, compared to the consensus estimate of $13.10 billion. Advanced Micro Devices had a net margin of 16.77% and a return on equity of 14.15%. The business’s quarterly revenue was up 44.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.20 EPS. On average, equities analysts forecast that Advanced Micro Devices, Inc. will post 6.93 EPS for the current fiscal year.

Insider Activity

In related news, EVP Mark Papermaster sold 28,811 shares of the stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $471.87, for a total transaction of $13,595,046.57. Following the transaction, 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 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, EVP Forrest Norrod sold 17,262 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president owned 353,317 shares in the company, valued at $191,038,501.90. This represents a 4.66% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 232,588 shares of company stock valued at $116,292,222 over the last three months. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on AMD shares. Rosenblatt Securities reiterated a “buy” rating and issued a $700.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, November 4th. Stifel Nicolaus raised their price target on shares of Advanced Micro Devices from $700.00 to $725.00 and gave the company a “buy” rating in a research report on Wednesday, November 4th. The Goldman Sachs Group restated a “buy” rating and issued a $675.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, November 4th. BTIG Research assumed coverage on Advanced Micro Devices in a research report on Thursday. They issued a “buy” rating on the stock. Finally, Wolfe Research reaffirmed an “outperform” rating and issued a $650.00 price objective 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 have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $640.11.

Latest Advanced Micro Devices News

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

• Positive Sentiment: Google’s selection of AMD EPYC processors for infrastructure supporting its next-generation TPU chips strengthens AMD’s role in hyperscaler AI systems and could support data-center growth. How to Play AMD Stock as Google Picks EPYC for Its Next-Gen TPUs
• Positive Sentiment: Analyst support and Lisa Su’s CEO of the Year recognition reinforce the bullish longer-term narrative around AMD’s recent gains and competitive position, though neither fully offset Friday’s sector weakness. AMD’s Lisa Su named CEO of the year
• Neutral Sentiment: Director Nora Denzel disclosed a sale of 9,000 AMD shares. The transaction is a modest insider sale and does not by itself establish a change in the company’s outlook. SEC filing

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.