True North Advisors LLC Increases Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

True North Advisors LLC has raised its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 46.0% during the fourth quarter, as indicated in its recent disclosure to the Securities and Exchange Commission (SEC). Following this increase, the institutional investor now owns a total of 7,863 shares of the semiconductor manufacturer's stock, having acquired an extra 2,476 shares during this period. The value of True North Advisors LLC's holdings in AMD stands at approximately $950,000 at the conclusion of the latest reporting period.

In addition to True North, other institutional investors have also adjusted their positions in AMD recently. Notably, Charles Schwab Investment Management Inc. enhanced its investment in Advanced Micro Devices by 1.9% during the third quarter. After the acquisition of 177,700 additional shares, they now hold 9,656,965 shares, currently valued at $1,584,515,000.

The Swiss National Bank also made adjustments to its stake, increasing it by 0.3% in the third quarter. They now own 4,797,575 shares worth $787,186,000 following the purchase of 12,500 additional shares during the period. Moreover, Shum Financial Group Inc. initiated a new stake in AMD, valued at about $858,000 in the same quarter.

State Street Corp raised its stake in Advanced Micro Devices as well, increasing its position by 2.3%. State Street now holds 70,170,271 shares worth approximately $11,513,538,000 after acquiring 1,580,035 additional shares. Lastly, Geode Capital Management LLC also increased its stake by 1.3%, now owning 34,243,843 shares valued at around $5,597,337,000. Collectively, institutional investors hold about 71.34% of AMD’s stock.

Insider Activity at Advanced Micro Devices

In related news, Lisa T. Su, the CEO of Advanced Micro Devices, recently sold 76,496 shares of the company's stock in a transaction dated December 4th. These shares were sold at an average price of $142.66, with a total value of $10,912,919.36. After this transaction, Ms. Su retains 3,566,762 shares in AMD, valued at approximately $508,834,266.92. This sale represents a 2.10% reduction in her ownership of the stock.

Furthermore, EVP Forrest Eugene Norrod sold 40,540 shares on November 5th at an average price of $141.67, totaling about $5,743,301.80. Following this sale, he holds 293,347 shares valued around $41,558,469.49, indicating a 12.14% drop in his ownership. In the past three months, insiders have disposed of 197,036 shares of AMD, valued at approximately $28,165,821. Currently, corporate insiders own about 0.65% of the stock.

Wall Street Analyst Perspectives

Various analysts have provided insights regarding AMD's stock. Piper Sandler recently reaffirmed an “overweight” rating on AMD, with a price target adjusted to $180.00, down from $200.00. Meanwhile, Mizuho lowered its target price from $180.00 to $160.00, still maintaining an “outperform” rating for the company. The Goldman Sachs Group changed its rating from “buy” to “neutral” and reduced its price target from $175.00 to $129.00.

Citigroup also adjusted its target for AMD from $200.00 to $175.00 while retaining a “buy” rating. Bank of America downgraded AMD from “buy” to “neutral” and revised its target price from $180.00 to $155.00. Overall, the consensus includes two sell ratings, six hold ratings, twenty-two buy ratings, and two strong buy ratings, with a consensus rating classified as a “Moderate Buy” and an average target price of $177.71.

Advanced Micro Devices Stock Overview

As of Thursday, AMD shares opened at $123.75. The company's market capitalization is approximately $200.82 billion, with a price-to-earnings ratio of 111.49. AMD has seen a 52-week low of $114.41 and a high of $227.30. The stock's 50-day moving average price is $128.99, while the 200-day moving average is $144.41. Financial statistics indicate a quick ratio of 1.78, a current ratio of 2.50, and a debt-to-equity ratio of 0.03.

In its quarterly earnings report on October 29th, Advanced Micro Devices announced earnings per share of $0.92, aligning with analysts’ expected consensus. The revenue recorded was $6.82 billion, surpassing the anticipated $6.71 billion. Year-on-year, AMD's revenue marked a 17.6% increase compared to the same quarter last year, with the previous year showing earnings of $0.53 per share. Predictions suggest that AMD is likely to report 2.54 EPS for the current year.

About Advanced Micro Devices, Inc.

Advanced Micro Devices, Inc. operates as a global semiconductor company with segments that include Data Center, Client, Gaming, and Embedded. The company produces x86 microprocessors and graphics processing units (GPUs) as well as chipsets, professional GPUs, embedded processors, and system-on-chip (SoC) products.

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