Advanced Micro Devices, Inc. $AMD Stock Sold by Lyell Wealth Management LP

Lyell Wealth Management LP cut its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 1.7% in the third quarter, HoldingsChannel reports. The firm owned 68,311 shares of the semiconductor manufacturer’s stock after selling 1,188 shares during the period. Advanced Micro Devices accounts for about 2.5% of Lyell Wealth Management LP’s holdings, making the stock its 9th biggest holding. Lyell Wealth Management LP’s holdings in Advanced Micro Devices were worth $41,790,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in shares of Advanced Micro Devices by 3.1% during the 2nd quarter. BlackRock Inc. now owns 150,301,510 shares of the semiconductor manufacturer’s stock valued at $87,311,650,000 after buying an additional 4,535,126 shares during the last quarter. State Street Corp lifted its holdings in shares of 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 buying an additional 2,149,563 shares during the period. Bank of America Corp DE acquired a new position in shares of Advanced Micro Devices in the 2nd quarter valued at about $7,022,226,000. Jennison Associates LLC boosted its stake in shares of Advanced Micro Devices by 5.8% in the second quarter. Jennison Associates LLC now owns 9,972,952 shares of the semiconductor manufacturer’s stock worth $5,793,388,000 after buying an additional 545,575 shares during the last quarter. Finally, Wellington Management Group LLP boosted 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 buying an additional 2,365,419 shares during the last quarter. 71.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Advanced Micro Devices news, EVP Jean X. Hu sold 15,000 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president owned 160,979 shares in the company, valued at approximately $76,316,924.32. This represents a 8.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lisa T. Su sold 70,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $506.80, for a total value of $35,476,000.00. Following the completion of the sale, the chief executive officer directly owned 3,032,156 shares in the company, valued at approximately $1,536,696,660.80. The trade was a 2.26% decrease in their ownership of the stock. 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 a total of 231,100 shares of company stock worth $114,867,400 in the last ninety days. 0.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AMD has been the topic of several analyst reports. Truist Financial raised their target price on Advanced Micro Devices from $478.00 to $594.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Mizuho lifted their price target on Advanced Micro Devices from $580.00 to $705.00 and gave the company an “outperform” rating in a research report on Tuesday, October 6th. Roth Capital boosted their price target on Advanced Micro Devices from $500.00 to $650.00 and gave the company a “buy” rating in a report on Friday, July 24th. DA Davidson upped their price objective on Advanced Micro Devices from $425.00 to $550.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Finally, William Blair restated a “market perform” rating on shares of Advanced Micro Devices in a research report on Friday, July 24th. Three 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 issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $608.78.

Advanced Micro Devices Trading Up 3.7%

Shares of Advanced Micro Devices stock opened at $483.90 on Wednesday. The firm has a 50-day simple moving average of $548.70 and a two-hundred day simple moving average of $411.73. The company has a market cap of $789.95 billion, a P/E ratio of 124.40, a price-to-earnings-growth ratio of 4.79 and a beta of 2.49. Advanced Micro Devices, Inc. has a fifty-two week low of $188.22 and a fifty-two week high of $658.52. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.91 and a current ratio of 2.61.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, November 3rd. The semiconductor manufacturer reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.14. Advanced Micro Devices had a net margin of 15.58% and a return on equity of 12.30%. The business had revenue of $13.38 billion for the quarter, compared to analyst estimates of $13.10 billion. During the same period in the prior year, the company posted $1.20 EPS. The company’s revenue for the quarter was up 44.7% on a year-over-year basis. As a group, equities analysts predict that Advanced Micro Devices, Inc. will post 6.50 earnings per share for the current fiscal year.

Key Headlines Impacting Advanced Micro Devices

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

• Positive Sentiment: AMD reported record Q3 revenue of $13.38 billion and earnings of $2.09 per share, beating analyst estimates. Data-center revenue rose 97% year over year to $8.55 billion, driven by sales of Instinct GPUs and EPYC processors. CNBC earnings report
• Positive Sentiment: The company forecast roughly $17 billion in Q4 revenue, above expectations, implying a sharp sequential increase and about 66% year-over-year growth. The guidance reinforced confidence that AI-chip demand and data-center expansion are accelerating. Reuters outlook coverage
• Neutral Sentiment: Management described the quarter as the company’s largest and most profitable, while coverage also noted mixed performance outside data center, including in gaming, client and embedded businesses. Yahoo Finance interview
• Negative Sentiment: Investors may remain alert to the cost of scaling AI growth: commentary flagged a roughly $3 billion inventory build and sharply weaker free cash flow. AMD’s high valuation also leaves the stock vulnerable if future growth fails to meet elevated expectations. Barchart analysis

Advanced Micro Devices Profile

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

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