Advanced Micro Devices, Inc. $AMD Stock Sold by Hohimer Wealth Management LLC

Hohimer Wealth Management LLC reduced its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 55.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,567 shares of the semiconductor manufacturer’s stock after selling 5,640 shares during the period. Hohimer Wealth Management LLC’s holdings in Advanced Micro Devices were worth $2,794,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Means Investment CO. Inc. boosted its stake in shares of Advanced Micro Devices by 4.2% during the third quarter. Means Investment CO. Inc. now owns 8,700 shares of the semiconductor manufacturer’s stock valued at $5,322,000 after acquiring an additional 352 shares during the last quarter. M Holdings Securities Inc. acquired a new position in Advanced Micro Devices in the 3rd quarter valued at about $3,176,000. Brighton Jones LLC raised its stake in Advanced Micro Devices by 29.6% in the 3rd quarter. Brighton Jones LLC now owns 62,035 shares of the semiconductor manufacturer’s stock valued at $37,950,000 after purchasing an additional 14,160 shares during the last quarter. Candriam S.C.A. raised its stake in Advanced Micro Devices by 3.9% in the 3rd quarter. Candriam S.C.A. now owns 684,015 shares of the semiconductor manufacturer’s stock valued at $419,982,000 after purchasing an additional 25,856 shares during the last quarter. Finally, Cullinan Associates Inc. lifted its holdings in Advanced Micro Devices by 6.6% in the 3rd quarter. Cullinan Associates Inc. now owns 3,963 shares of the semiconductor manufacturer’s stock valued at $2,424,000 after purchasing an additional 244 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMD has been the topic of several analyst reports. Wells Fargo & Company decreased their price target on shares of Advanced Micro Devices from $700.00 to $650.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 4th. Raymond James Financial reissued a “strong-buy” rating and issued a $649.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, November 4th. Cantor Fitzgerald reissued an “overweight” rating and set a $700.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, November 4th. Piper Sandler upped their price objective on shares of Advanced Micro Devices from $600.00 to $650.00 and gave the company an “overweight” rating in a research note on Wednesday, November 4th. Finally, Roth Capital raised their target price on shares of Advanced Micro Devices from $500.00 to $650.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $642.47.

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

Insider Buying and Selling at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 28,811 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president directly owned 1,261,461 shares in the company, valued at approximately $595,245,602.07. The trade was a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lisa T. Su sold 70,000 shares of the business’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 transaction of $35,476,000.00. Following the completion of the sale, the chief executive officer owned 3,032,156 shares of the company’s stock, valued at approximately $1,536,696,660.80. The trade was a 2.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 230,957 shares of company stock worth $114,799,511. 0.50% of the stock is currently owned by insiders.

Advanced Micro Devices Stock Performance

NASDAQ AMD opened at $508.58 on Tuesday. The business’s 50-day moving average price is $547.67 and its 200 day moving average price is $416.28. Advanced Micro Devices, Inc. has a twelve month low of $188.22 and a twelve month high of $658.52. The company has a market capitalization of $830.24 billion, a PE ratio of 110.56, a price-to-earnings-growth ratio of 5.01 and a beta of 2.49. The company has a current ratio of 2.72, a quick ratio of 1.91 and a debt-to-equity ratio of 0.10.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, November 3rd. The semiconductor manufacturer reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.14. The firm 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%. The firm’s quarterly revenue was up 44.7% on a year-over-year basis. During the same period last year, the company earned $1.20 EPS. On average, research analysts predict that Advanced Micro Devices, Inc. will post 6.59 earnings per share for the current year.

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.