Puzo Michael J reduced its position in Advanced Micro Devices, Inc. (NASDAQ: AMD) by 13.8% during the second quarter of 2023. According to the recent 13F filing with the Securities & Exchange Commission, the institutional investor now holds 67,366 shares after selling 10,766 shares during this period. Advanced Micro Devices represents approximately 2.7% of Puzo Michael J’s portfolio, ranking as its 16th largest holding, valued at around $9.56 million at the end of the reporting period.
Additionally, several other institutional investors have made moves regarding their stakes in Advanced Micro Devices. Wise Wealth Partners established a new position worth approximately $343,000, while Parisi Gray Wealth Management also acquired a stake of similar value. Davis Investment Partners LLC added a new stake worth about $736,000. Notably, Sivia Capital Partners LLC increased its stake by 125.1%, now owning 5,344 shares valued at $758,000. Fragasso Financial Advisors Inc boosted its stake by 151.3%, holding 5,628 shares valued at approximately $799,000. Overall, institutional investors and hedge funds control approximately 71.34% of the company’s stock.
Analysts Adjust Price Targets for AMD
Recent analyst reports reflect a range of opinions on Advanced Micro Devices. Raymond James Financial raised its price target from $120.00 to $200.00, issuing an “outperform” rating on August 6. Similarly, Sanford C. Bernstein increased its target from $95.00 to $140.00, giving the company a “market perform” rating. In contrast, HSBC lowered its target from $200.00 to $185.00 while maintaining a “buy” rating.
Furthermore, Barclays lifted its price target from $200.00 to $300.00, rating the stock as “overweight.” JPMorgan Chase & Co. also increased its target from $120.00 to $180.00, assigning a “neutral” rating. Currently, three analysts have rated AMD as a Strong Buy, twenty-two assigned a Buy rating, thirteen issued a Hold rating, and one has given a Sell rating. According to data from MarketBeat.com, the stock carries an average rating of “Moderate Buy” with a price target of approximately $213.00.
Stock Performance and Recent Earnings
On August 5, 2023, Advanced Micro Devices reported its quarterly earnings, revealing earnings per share (EPS) of $0.48, which fell short of the consensus estimate of $0.54 by $0.06. The company generated revenues of $7.69 billion, surpassing the expected $7.41 billion. The company’s return on equity stood at 7.54%, with a net margin of 9.57%. Year-over-year revenue increased by 31.7%, although EPS declined from $0.69 in the same quarter last year.
As of now, Advanced Micro Devices has set its guidance for Q3 2025 at an anticipated EPS of $3.87 for the current year. On Wednesday, shares of AMD opened at $211.51. The company has experienced a one-year low of $76.48 and a high of $226.71. Advanced Micro Devices operates with a debt-to-equity ratio of 0.05, a current ratio of 2.49, and a quick ratio of 1.81. The stock’s 50-day moving average is $167.22, while the 200-day moving average stands at $135.02.
In insider trading news, Executive Vice President Paul Darren Grasby sold 10,000 shares on August 12 at an average price of $173.21, totaling $1,732,100. Following this transaction, Grasby held 125,505 shares valued at approximately $21.74 million, reflecting a decrease in ownership by 7.38%. Additionally, Executive Vice President Forrest Eugene Norrod sold 17,200 shares on September 10, generating $2,767,996 in proceeds. This sale reduced his position by 5.20% to 313,848 shares worth around $50.51 million. Over the last three months, insiders have sold a total of 272,448 shares valued at approximately $44.55 million, with insiders controlling 0.06% of the company’s stock.
Advanced Micro Devices, Inc. continues to make significant strides in the semiconductor industry, operating through various segments including Data Center, Client, Gaming, and Embedded. The company is renowned for its x86 microprocessors and graphics processing units (GPUs), among other products.
