Beacon Pointe Advisors LLC has sold 20,687 shares of Advanced Micro Devices, Inc. (NASDAQ: AMD), reducing its stake in the semiconductor manufacturer by 8.9% during the second quarter of 2023. According to its recent filing with the SEC, Beacon Pointe now holds 213,016 shares valued at approximately $30,227,000.
Other institutional investors have also adjusted their positions in AMD. For instance, Pinney & Scofield Inc. increased its holdings by 81.0%, acquiring an additional 85 shares to reach a total of 190 shares valued at $27,000. Dogwood Wealth Management LLC saw its stake surge by an astonishing 2,311.1%, bringing its ownership to 217 shares worth $30,000 after purchasing 208 additional shares. Similarly, Avion Wealth grew its position by 49.3%, now owning 218 shares valued at $30,000.
In addition, West Branch Capital LLC expanded its stake by 3,057.1%, owning 221 shares valued at $31,000 after acquiring 214 shares. Meanwhile, Financial Network Wealth Advisors LLC increased its stake by 185.3% during the first quarter, owning 331 shares worth $34,000 after adding 215 shares.
Overall, institutional investors hold approximately 71.34% of AMD’s stock, reflecting strong interest in the company.
AMD’s Stock Performance and Financial Overview
On Tuesday, shares of AMD opened at $219.76. The firm boasts a market capitalization of $357.78 billion, a price-to-earnings ratio of 126.30, and a PEG ratio of 2.42. AMD’s stock performance has seen significant fluctuations, with a 52-week low of $76.48 and a high of $267.08. The company maintains solid liquidity, evidenced by a quick ratio of 1.81 and a current ratio of 2.49, alongside a low debt-to-equity ratio of 0.05.
In its latest quarterly earnings report on November 4, 2023, AMD reported earnings per share (EPS) of $1.20, surpassing analysts’ expectations of $1.17 by $0.03. The company achieved a net margin of 9.57% and a return on equity of 7.54%. Revenue for the quarter reached $9.25 billion, significantly exceeding the consensus estimate of $8.76 billion. This represents a 35.6% increase in revenue compared to the same period last year.
Analysts anticipate that AMD will post an EPS of 3.87 for the current year.
Recent Analyst Ratings and Insider Activity
Recent reports from equity research analysts have provided varied ratings on AMD’s stock. Sanford C. Bernstein maintained a “market perform” rating with a price objective of $200.00 as of November 12. Jefferies Financial Group set an optimistic price target of $300.00, while Mizuho raised their target from $275.00 to $285.00 and rated the stock as “outperform.” Loop Capital also issued a buy rating with a target of $290.00.
As of now, three analysts have rated AMD with a Strong Buy, while twenty-eight have issued a Buy rating and eleven have designated it with a Hold rating. The consensus rating currently stands at “Moderate Buy” with an average price target of $278.54.
In terms of insider activity, Mark D. Papermaster, Executive Vice President, sold 17,108 shares on November 14 for a total of $4,107,972.96. Following this transaction, Papermaster retains 1,714,505 shares valued at approximately $411,686,940.60, reflecting a 0.99% decrease in his position. Additionally, Forrest Eugene Norrod, another Executive Vice President, sold 19,450 shares on November 19, totaling $4,461,246.50.
In total, insiders have sold 75,676 shares of AMD over the past 90 days, amounting to $16,124,589 in value. Presently, insiders hold 0.06% of the company’s stock.
As a leading semiconductor company, Advanced Micro Devices, Inc. operates globally across various segments including Data Center, Client, Gaming, and Embedded, offering a range of products from microprocessors to graphics processing units.
