Kestra Investment Management LLC Acquires 3,555 Shares of Advanced Micro Devices, Inc. $AMD

Kestra Investment Management LLC raised its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 76.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 8,191 shares of the semiconductor manufacturer’s stock after acquiring an additional 3,555 shares during the quarter. Kestra Investment Management LLC’s holdings in Advanced Micro Devices were worth $5,011,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AMD. First Citizens Financial Corp increased its position in shares of Advanced Micro Devices by 3.4% in the third quarter. First Citizens Financial Corp now owns 490 shares of the semiconductor manufacturer’s stock worth $300,000 after purchasing an additional 16 shares during the last quarter. Fearless Solutions LLC dba Best Invest raised its stake in Advanced Micro Devices by 1.5% in the third quarter. Fearless Solutions LLC dba Best Invest now owns 1,174 shares of the semiconductor manufacturer’s stock valued at $718,000 after purchasing an additional 17 shares in the last quarter. Private Client Services LLC raised its stake in Advanced Micro Devices by 1.7% in the third quarter. Private Client Services LLC now owns 1,079 shares of the semiconductor manufacturer’s stock valued at $660,000 after purchasing an additional 18 shares in the last quarter. Essential Investment Partners LLC raised its stake in Advanced Micro Devices by 40.0% in the third quarter. Essential Investment Partners LLC now owns 63 shares of the semiconductor manufacturer’s stock valued at $39,000 after purchasing an additional 18 shares in the last quarter. Finally, CKW Financial Group lifted its position in Advanced Micro Devices by 1.3% during the third quarter. CKW Financial Group now owns 1,450 shares of the semiconductor manufacturer’s stock valued at $893,000 after purchasing an additional 18 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wells Fargo & Company cut their price target on shares of Advanced Micro Devices from $700.00 to $650.00 and set an “overweight” rating for the company in a research note on Wednesday, November 4th. Wall Street Zen raised shares of Advanced Micro Devices from a “hold” rating to a “buy” rating in a report on Sunday. Wolfe Research restated an “outperform” rating and set a $650.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, November 4th. JPMorgan Chase & Co. lifted their price objective on shares of Advanced Micro Devices from $550.00 to $575.00 and gave the stock a “neutral” rating in a report on Wednesday, November 4th. Finally, 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. Three research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, eight have given 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 target price of $642.47.

Insider Activity

In other news, 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 value of $7,111,200.00. Following the transaction, the executive vice president owned 160,979 shares in the company, valued at approximately $76,316,924.32. The trade was a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Forrest Norrod sold 17,262 shares of the business’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $540.70, for a total value of $9,333,563.40. Following the completion of the sale, the executive vice president directly owned 353,317 shares of the company’s stock, valued at approximately $191,038,501.90. This trade represents a 4.66% 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. In the last ninety days, insiders sold 230,957 shares of company stock valued at $114,799,511. Company insiders own 0.50% of the company’s stock.

Advanced Micro Devices Price Performance

Shares of NASDAQ:AMD opened at $508.58 on Tuesday. The stock has a market cap of $830.24 billion, a PE ratio of 110.56, a PEG ratio of 5.01 and a beta of 2.49. The company’s fifty day moving average is $547.67 and its 200 day moving average is $416.28. Advanced Micro Devices, Inc. has a 52 week low of $188.22 and a 52 week high of $658.52. The company has a quick ratio of 1.91, a current ratio of 2.72 and a debt-to-equity ratio of 0.10.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, November 3rd. The semiconductor manufacturer reported $2.09 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.14. Advanced Micro Devices had a net margin of 16.77% and a return on equity of 14.15%. The business had revenue of $13.38 billion during the quarter, compared to the consensus estimate of $13.10 billion. During the same period in the previous year, the firm posted $1.20 earnings per share. The firm’s revenue for the quarter was up 44.7% on a year-over-year basis. Research analysts anticipate that Advanced Micro Devices, Inc. will post 6.59 earnings per share for the current year.

Advanced Micro Devices News Roundup

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

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.