Zevenbergen Capital Investments LLC Reduces Holdings in Advanced Micro Devices, Inc. $AMD

Zevenbergen Capital Investments LLC reduced its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 15.3% in the third quarter, Holdings Channel reports. The institutional investor owned 348,709 shares of the semiconductor manufacturer’s stock after selling 62,876 shares during the period. Advanced Micro Devices makes up 4.9% of Zevenbergen Capital Investments LLC’s investment portfolio, making the stock its 3rd largest holding. Zevenbergen Capital Investments LLC’s holdings in Advanced Micro Devices were worth $213,326,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Bank of America Corp DE acquired a new stake in shares of Advanced Micro Devices in the 2nd quarter worth about $7,022,226,000. Cardano Risk Management B.V. acquired a new position in Advanced Micro Devices during the 4th quarter valued at about $1,000,783,000. BlackRock Inc. increased its holdings 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 in the last quarter. Jupiter Topco LLC bought a new stake in Advanced Micro Devices during the 2nd quarter worth approximately $2,084,651,000. Finally, Wellington Management Group LLP raised its stake in shares of 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 worth $5,422,444,000 after purchasing an additional 2,365,419 shares during the last quarter. 71.34% of the stock is owned by institutional investors.

Trending Headlines about Advanced Micro Devices

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

• Positive Sentiment: AMD’s data-center revenue reportedly increased 107% year over year to $6.7 billion, underscoring strong demand for its AI accelerators and server processors. Global AI infrastructure spending is also expected to remain substantial. AMD Stock: Drops Despite Record Revenue and Surging AI Data Center Demand
• Positive Sentiment: TSMC reported record quarterly revenue, up 50% year over year, signaling that demand for advanced chips used by AMD and other AI companies remains robust. Nvidia, AMD, Intel Stocks Despite Record AI Demand
• Positive Sentiment: CEO Lisa Su’s meetings with Samsung and SK Hynix could improve AMD’s access to memory and manufacturing capacity as AI supply constraints persist. AMD CEO Says Continues to Explore Foundry Partnership With Samsung
• Positive Sentiment: Analysts remain constructive: BNP Paribas identified further upside from AMD’s CPU, AI accelerator and inference-chip opportunities, while Citi recently raised its price target. AMD Stock Isn’t Undervalued, but Wall Street May Be Underestimating a Key Opportunity
• Neutral Sentiment: AMD scheduled its third-quarter earnings report for November 3. Investors may remain cautious ahead of the release, which will provide an important test of AI demand, supply expansion and forward guidance. AMD Stock Slips Despite Setting a Date for Q3 Earnings
• Negative Sentiment: Higher bond yields and oil prices are pressuring richly valued growth and AI stocks, prompting investors to rotate out of semiconductor names across the sector. Why Are Intel and AMD Stocks Plunging on Thursday?
• Negative Sentiment: AMD’s valuation leaves little room for execution setbacks after its sharp rally. Concerns include whether future AI commitments will translate into repeat deployments, cash flow and sustainable margins. AMD’s Valuation Is Starting to Ruffle Feathers on Wall Street
• Negative Sentiment: Reported insider activity shows substantial selling and no open-market purchases over the past six months, adding to investor caution even though such sales may reflect scheduled diversification.

Insider Activity at Advanced Micro Devices

In related news, EVP Forrest Norrod sold 17,261 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $503.05, for a total transaction of $8,683,146.05. Following the completion of the sale, the executive vice president owned 363,317 shares in the company, valued at approximately $182,766,616.85. This trade represents a 4.54% 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, EVP Jean X. Hu sold 15,000 shares of Advanced Micro Devices stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $474.08, for a total transaction of $7,111,200.00. Following the completion of the sale, the executive vice president directly owned 160,979 shares in the company, valued at approximately $76,316,924.32. This represents a 8.52% 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. Insiders have sold 213,838 shares of company stock valued at $105,533,836 in the last 90 days. 0.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Truist Financial raised their target price on Advanced Micro Devices from $478.00 to $594.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Advanced Micro Devices in a report on Monday, August 3rd. CLSA reissued an “outperform” rating and issued a $710.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, September 9th. Wolfe Research set a $450.00 price objective on Advanced Micro Devices and gave the company an “outperform” rating in a research note on Monday, June 15th. Finally, Stifel Nicolaus lifted their price objective on shares of Advanced Micro Devices from $635.00 to $700.00 and gave the stock a “buy” rating in a report on Monday. Three investment analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $585.26.

Advanced Micro Devices Stock Performance

AMD stock traded down $25.18 during midday trading on Thursday, hitting $620.68. The company’s stock had a trading volume of 23,402,461 shares, compared to its average volume of 32,602,393. The stock has a market cap of $1.01 trillion, a price-to-earnings ratio of 159.56, a PEG ratio of 6.73 and a beta of 2.45. The company has a quick ratio of 1.91, a current ratio of 2.61 and a debt-to-equity ratio of 0.03. The stock’s 50-day moving average price is $526.31 and its 200 day moving average price is $458.39. Advanced Micro Devices, Inc. has a 1 year low of $188.22 and a 1 year high of $658.52.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, August 4th. The semiconductor manufacturer reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.04. The firm had revenue of $11.54 billion during 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%.The business’s revenue was up 50.1% compared to the same quarter last year. During the same period last year, the firm posted $0.48 EPS. On average, equities analysts forecast that Advanced Micro Devices, Inc. will post 6.43 EPS for the current year.

About Advanced Micro Devices

Advanced Micro Devices, Inc (NASDAQ: AMD) is a semiconductor company that designs high-performance computing, graphics and adaptive computing products. Its offerings serve data centers, personal computers, gaming systems, embedded devices and other specialized markets.

AMD’s product portfolio includes Ryzen processors for desktop and notebook computers, EPYC server processors, Radeon graphics products, and Instinct accelerators designed for artificial intelligence and high-performance computing workloads.