Retirement Systems of Alabama Purchases 264,988 Shares of Advanced Micro Devices, Inc. $AMD

Retirement Systems of Alabama increased its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 64.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 678,654 shares of the semiconductor manufacturer’s stock after purchasing an additional 264,988 shares during the quarter. Advanced Micro Devices accounts for 1.2% of Retirement Systems of Alabama’s portfolio, making the stock its 14th biggest position. Retirement Systems of Alabama’s holdings in Advanced Micro Devices were worth $415,173,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. First Citizens Financial Corp grew its stake in shares of Advanced Micro Devices by 3.4% during 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 period. Fearless Solutions LLC dba Best Invest lifted 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 buying an additional 17 shares during the period. Private Client Services LLC lifted 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 buying an additional 18 shares during the period. Essential Investment Partners LLC lifted 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 buying an additional 18 shares during the period. Finally, CKW Financial Group boosted its holdings 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 worth $893,000 after buying an additional 18 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Jean X. Hu sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $474.08, for a total value of $7,111,200.00. Following the completion of the sale, the executive vice president directly owned 160,979 shares in the company, valued at approximately $76,316,924.32. This trade represents a 8.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Forrest Norrod sold 17,262 shares of Advanced Micro Devices stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $540.70, for a total value of $9,333,563.40. Following the transaction, the executive vice president owned 353,317 shares of the company’s stock, valued at $191,038,501.90. The trade was 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. Over the last quarter, insiders have sold 230,957 shares of company stock worth $114,799,511. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on AMD shares. Melius Research set a $650.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, November 4th. Argus boosted their price objective on shares of Advanced Micro Devices from $450.00 to $625.00 and gave the company a “buy” rating in a report on Thursday, August 6th. HSBC reaffirmed a “hold” rating and issued a $540.00 target price on shares of Advanced Micro Devices in a research note on Thursday. TD Cowen reiterated a “buy” rating on shares of Advanced Micro Devices in a report on Monday, October 19th. Finally, CLSA reissued an “outperform” rating and set a $710.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, September 9th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $642.47.

Key Headlines Impacting Advanced Micro Devices

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 Stock Up 13.3%

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

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, November 3rd. The semiconductor manufacturer reported $2.09 earnings per share for the quarter, beating 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 analysts’ expectations of $13.10 billion. During the same period last year, the business earned $1.20 earnings per share. The firm’s revenue was up 44.7% on a year-over-year basis. Equities research analysts expect that Advanced Micro Devices, Inc. will post 6.59 earnings per share for the current fiscal year.

Advanced Micro Devices 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.