Motley Fool Asset Management LLC has increased its stake in Advanced Micro Devices, Inc. (NASDAQ: AMD) by 5.5% during the second quarter of 2023, as revealed in its latest 13F filing with the Securities and Exchange Commission (SEC). The firm now holds 79,537 shares of the semiconductor manufacturer, following the acquisition of an additional 4,158 shares during this period. As of the latest filing, these holdings are valued at approximately $11.29 million.
Other institutional investors have also made significant adjustments to their positions in AMD. For instance, Farmers & Merchants Trust Co of Chambersburg, PA raised its holdings by an impressive 277.8% in the first quarter, now owning 272 shares valued at $28,000. Similarly, American Capital Advisory LLC increased its stake by 90.3%, holding 274 shares also valued at $28,000 after purchasing an additional 130 shares.
Continuing the trend, Dogwood Wealth Management LLC significantly boosted its holdings by 2,311.1% during the second quarter, now owning 217 shares valued at $30,000. Avion Wealth and West Branch Capital LLC also reported increases in their stakes, with West Branch Capital lifting its holdings by 3,057.1% to own 221 shares valued at $31,000. Overall, institutional investors and hedge funds control 71.34% of AMD’s stock.
In the realm of insider trading, AMD’s Executive Vice President Paul Darren Grasby sold 10,000 shares on August 12, 2023, at an average price of $173.21, resulting in a total transaction of approximately $1.73 million. This transaction decreased Grasby’s ownership by 7.38%, leaving him with 125,505 shares valued at around $21.74 million. Additionally, Senior Vice President Ava Hahn sold 2,868 shares on October 6, 2023, for approximately $648,197, reducing her stake by 24.10%.
Over the past 90 days, insiders have sold a total of 274,118 shares valued at approximately $46.18 million. Currently, company insiders hold only 0.06% of AMD’s stock.
AMD’s Financial Overview and Market Performance
On August 5, 2023, Advanced Micro Devices reported its quarterly earnings, revealing earnings per share (EPS) of $0.48, which fell short of analysts’ consensus estimate of $0.54 by $0.06. The company achieved a net margin of 9.57% and a return on equity of 7.54%. Revenue for the quarter reached $7.69 billion, surpassing expectations of $7.41 billion. This represents a 31.7% increase in revenue compared to the same quarter last year, when the company posted an EPS of $0.69.
Looking ahead, AMD has set its guidance for Q3 2025 at an EPS of 3.87. Analysts predict that the company will continue to perform well, with various research analysts recently adjusting their ratings and price targets for the stock.
Analyst Ratings and Price Targets
Several analysts have weighed in on AMD’s stock performance. The Goldman Sachs Group recently raised its price target from $150.00 to $210.00, maintaining a “neutral” rating. Similarly, JPMorgan Chase & Co. increased its price objective from $120.00 to $180.00, also giving the stock a “neutral” rating.
In a more bullish stance, DZ Bank upgraded AMD from a “hold” to a “buy” rating, setting a target price of $250.00. Other firms, including Susquehanna and Wedbush, have raised their target prices significantly, indicating strong market confidence. Currently, the consensus rating for AMD stands at a “Moderate Buy” with an average price target of $233.94, according to MarketBeat.com.
Advanced Micro Devices continues to be a key player in the semiconductor industry, operating through multiple segments, including Data Center, Client, Gaming, and Embedded. The company is recognized for its innovative products, including x86 microprocessors and graphics processing units (GPUs).
For investors tracking AMD, further details on institutional holdings and insider trades can be accessed through platforms like HoldingsChannel.com.
