SVB Wealth LLC Reduces Position in Advanced Micro Devices, Inc. $AMD

SVB Wealth LLC reduced its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 44.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,182 shares of the semiconductor manufacturer’s stock after selling 8,115 shares during the period. SVB Wealth LLC’s holdings in Advanced Micro Devices were worth $1,445,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of AMD. Pinney & Scofield Inc. boosted its position in shares of Advanced Micro Devices by 81.0% during the 2nd quarter. Pinney & Scofield Inc. now owns 190 shares of the semiconductor manufacturer’s stock worth $27,000 after acquiring an additional 85 shares in the last quarter. Dogwood Wealth Management LLC lifted its stake in Advanced Micro Devices by 2,311.1% during the second quarter. Dogwood Wealth Management LLC now owns 217 shares of the semiconductor manufacturer’s stock worth $30,000 after purchasing an additional 208 shares during the last quarter. Avion Wealth boosted its holdings in Advanced Micro Devices by 49.3% in the second quarter. Avion Wealth now owns 218 shares of the semiconductor manufacturer’s stock valued at $30,000 after purchasing an additional 72 shares in the last quarter. West Branch Capital LLC increased its stake in Advanced Micro Devices by 3,057.1% in the second quarter. West Branch Capital LLC now owns 221 shares of the semiconductor manufacturer’s stock valued at $31,000 after purchasing an additional 214 shares during the last quarter. Finally, High Note Wealth LLC raised its holdings in Advanced Micro Devices by 285.5% during the second quarter. High Note Wealth LLC now owns 266 shares of the semiconductor manufacturer’s stock worth $38,000 after purchasing an additional 197 shares in the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AMD. Evercore ISI increased their target price on shares of Advanced Micro Devices from $270.00 to $283.00 and gave the company an “outperform” rating in a research report on Wednesday, November 12th. Cowen reiterated a “buy” rating on shares of Advanced Micro Devices in a research report on Tuesday, December 2nd. Melius Research set a $380.00 target price on Advanced Micro Devices in a research report on Wednesday, November 12th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, November 12th. Finally, Piper Sandler restated an “overweight” rating and set a $280.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, November 12th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and an average target price of $278.54.

Insider Buying and Selling at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,108 shares of Advanced Micro Devices stock in a transaction on Friday, November 14th. The stock was sold at an average price of $240.12, for a total transaction of $4,107,972.96. Following the completion of the transaction, the executive vice president directly owned 1,714,505 shares of the company’s stock, valued at approximately $411,686,940.60. The trade was a 0.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Forrest Eugene Norrod sold 19,450 shares of the company’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $229.37, for a total value of $4,461,246.50. Following the completion of the sale, the executive vice president directly owned 300,348 shares in the company, valued at $68,890,820.76. This trade represents a 6.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 75,676 shares of company stock valued at $16,124,589. Corporate insiders own 0.06% of the company’s stock.

Advanced Micro Devices Stock Performance

Shares of AMD stock opened at $221.11 on Tuesday. The company has a current ratio of 2.31, a quick ratio of 1.68 and a debt-to-equity ratio of 0.04. The stock has a 50 day simple moving average of $226.81 and a 200-day simple moving average of $177.03. The company has a market cap of $359.98 billion, a price-to-earnings ratio of 109.46, a price-to-earnings-growth ratio of 1.61 and a beta of 1.93. Advanced Micro Devices, Inc. has a 12-month low of $76.48 and a 12-month high of $267.08.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data on Tuesday, November 4th. The semiconductor manufacturer reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.03. Advanced Micro Devices had a return on equity of 8.04% and a net margin of 10.32%.The firm had revenue of $9.25 billion during the quarter, compared to analysts’ expectations of $8.76 billion. During the same quarter in the prior year, the business posted $0.92 earnings per share. Advanced Micro Devices’s revenue was up 35.6% compared to the same quarter last year. On average, equities analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices Company Profile

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates through Data Center, Client, Gaming, and Embedded segments. The company offers x86 microprocessors and graphics processing units (GPUs) as an accelerated processing unit, chipsets, data center, and professional GPUs; and embedded processors, and semi-custom system-on-chip (SoC) products, microprocessor and SoC development services and technology, data processing unites, field programmable gate arrays (FPGA), and adaptive SoC products.