McAdam LLC Reduces Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

McAdam LLC has reduced its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 5.9% during the third quarter, as per their latest Form 13F filing with the Securities and Exchange Commission. After selling 212 shares in the quarter, they now own 3,407 shares of the semiconductor company, which were valued at approximately $559,000 by the end of the quarter.

In addition to McAdam LLC's actions, several other institutional investors have also adjusted their positions in AMD. For instance, Tradewinds Capital Management LLC increased its stake by 102.9% in the first quarter, bringing their total to 140 shares valued at $25,000 after acquiring an additional 71 shares. ZRC Wealth Management LLC upped its holdings by 90.4% in the third quarter, now owning 158 shares worth around $26,000 following a purchase of 75 shares. Morton Brown Family Wealth LLC raised its stake by 94.4% in the second quarter, ending up with 175 shares valued at $27,000, as they bought an additional 85 shares. Fairway Wealth LLC bought a new stake during the second quarter valued at about $27,000. Lastly, Semmax Financial Advisors Inc. significantly increased its holdings by 926.7% in the first quarter, owning 154 shares valued at $28,000 after purchasing an extra 139 shares. Notably, hedge funds and institutional investors collectively hold 71.34% of AMD's stock.

Current Stock Performance

On Friday, shares of AMD opened at $153.44. The company’s fifty-day moving average is $154.79, while the two-hundred-day moving average stands at $156.43. It reports a low debt-to-equity ratio of 0.03 and has a quick ratio of 2.01 alongside a current ratio of 2.82. The total market capitalization of Advanced Micro Devices currently sits at $248.01 billion. The company shows a price-to-earnings ratio of 225.65 and a PEG ratio of 2.33, with a beta of 1.70. Over the past year, AMD’s stock has fluctuated significantly, reaching a low of $93.11 and a high of $227.30.

Recently, on July 30th, Advanced Micro Devices announced its quarterly earnings results. The company reported earnings per share of $0.69, exceeding analysts’ expectations of $0.68 by a slight margin. The firm generated revenues of $5.84 billion for the quarter, surpassing the consensus estimate of $5.72 billion. AMD also reported a return on equity of 5.98% and a net margin of 5.82%, with revenue growth of 8.9% year-over-year. Last year, during the same quarter, AMD had earnings of $0.40 per share. Analysts forecast an average earnings per share of 2.56 for the current year.

Analyst Insights

Analysts have issued a variety of ratings for AMD shares recently. Morgan Stanley upgraded their price target from $176.00 to $178.00, giving the stock an “equal weight” rating in a report published on July 31st. TD Cowen changed their stance to a “strong-buy” rating as of September 16th. Piper Sandler increased their target from $175.00 to $200.00, awarding the stock an “overweight” rating on October 11th. Robert W. Baird and Barclays adjusted their price targets for AMD, with Barclays reducing theirs from $235.00 to $180.00, while Baird lowered it from $200.00 to $175.00, maintaining an “outperform” rating. Overall, 27 analysts have rated AMD as a buy, three as hold, one as sell, and two have classified it as a strong buy, reflecting a consensus rating of “Moderate Buy” with a price target averaging $195.00.

About Advanced Micro Devices

Advanced Micro Devices, Inc. is a global semiconductor company that operates various segments including Data Center, Client, Gaming, and Embedded. The company develops and sells a range of products such as x86 microprocessors, graphics processing units (GPUs), chipsets, and data center solutions, along with technology services related to microprocessor and system-on-chip (SoC) products.

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