Advanced Micro Devices, Inc. $AMD Stock Sold by Point Windward Advisors Inc.

Point Windward Advisors Inc. decreased its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 16.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,523 shares of the semiconductor manufacturer’s stock after selling 1,709 shares during the quarter. Advanced Micro Devices comprises approximately 2.2% of Point Windward Advisors Inc.’s holdings, making the stock its 11th largest position. Point Windward Advisors Inc.’s holdings in Advanced Micro Devices were worth $5,214,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMD. Bank of America Corp DE bought a new stake in shares of Advanced Micro Devices in the second quarter valued at approximately $7,022,226,000. BlackRock Inc. increased its position in Advanced Micro Devices by 3.1% during the second quarter. BlackRock Inc. now owns 150,301,510 shares of the semiconductor manufacturer’s stock worth $87,311,650,000 after acquiring an additional 4,535,126 shares during the period. Jupiter Topco LLC bought a new position in Advanced Micro Devices during the second quarter worth $2,084,651,000. Wellington Management Group LLP raised its stake 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 valued at $5,422,444,000 after purchasing an additional 2,365,419 shares during the last quarter. Finally, State Street Corp boosted its holdings in Advanced Micro Devices by 2.9% in 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 purchasing an additional 2,149,563 shares during the period. Institutional investors and hedge funds own 71.34% of the company’s stock.

Advanced Micro Devices Stock Up 5.9%

NASDAQ AMD opened at $585.30 on Friday. Advanced Micro Devices, Inc. has a 1-year low of $188.22 and a 1-year 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’s 50 day moving average is $552.99 and its two-hundred day moving average is $420.72. The company has a market capitalization of $959.94 billion, a price-to-earnings ratio of 127.24, a PEG ratio of 5.32 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 EPS for the quarter, beating the consensus estimate of $1.95 by $0.14. The business had revenue of $13.38 billion for the quarter, compared to analyst estimates of $13.10 billion. Advanced Micro Devices had a return on equity of 14.15% and a net margin of 16.77%. Advanced Micro Devices’s quarterly revenue was up 44.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.20 EPS. Equities analysts forecast that Advanced Micro Devices, Inc. will post 6.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. HC Wainwright started coverage on shares of Advanced Micro Devices in a research report on Thursday. They issued a “buy” rating on the stock. Robert W. Baird set a $1,250.00 target price on shares of Advanced Micro Devices in a research note on Friday, July 24th. Royal Bank Of Canada reissued a “sector perform” rating and set a $540.00 target price on shares of Advanced Micro Devices in a research report on Thursday. Morgan Stanley boosted their price target on Advanced Micro Devices from $465.00 to $510.00 and gave the company an “equal weight” rating in a research note on Monday, November 2nd. Finally, HSBC reaffirmed a “hold” rating and issued a $540.00 price target on shares of Advanced Micro Devices in a report on Thursday, November 5th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty 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, Advanced Micro Devices has an average rating of “Moderate Buy” and a consensus price target of $640.11.

Insider Activity

In other news, EVP Mark D. Papermaster sold 28,811 shares of the company’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $471.87, for a total value of $13,595,046.57. Following the sale, the executive vice president owned 1,261,461 shares of the company’s stock, valued at approximately $595,245,602.07. This represents a 2.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Paul Grasby sold 15,000 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $514.91, for a total transaction of $7,723,650.00. Following the completion of the sale, the executive vice president directly owned 117,687 shares in the company, valued at approximately $60,598,213.17. The trade was a 11.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 223,588 shares of company stock valued at $111,208,302. 0.50% of the stock is owned by company insiders.

Top Advanced Micro Devices Stories

These are some of the AMD stories that stood out recently:

• Positive Sentiment: Bank of America raised its price target to $700 from $650 and maintained a Buy rating, citing AMD’s roadmap; William Blair also upgraded the stock to Outperform. Bank of America revises AMD target
• Positive Sentiment: Reports of Nvidia CEO Jensen Huang’s resignation and the ensuing uncertainty prompted investors to rotate toward rival chipmakers, potentially giving AMD an opportunity to capture market share. Nvidia turmoil and AMD
• Neutral Sentiment: The competitive opening is not assured: Nvidia retains a substantial data-center position, and uncertainty at a rival does not itself guarantee AMD wins orders.

About Advanced Micro Devices

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.