Mason & Associates Inc has expanded its holdings in Advanced Micro Devices, Inc. (NASDAQ: AMD) by 16.8% during the third quarter of 2023. This increase was disclosed in the firm’s recent Form 13F filing with the Securities and Exchange Commission (SEC). Following the acquisition of an additional 3,789 shares, Mason & Associates now owns a total of 26,370 shares, valued at approximately $4.27 million. Advanced Micro Devices now constitutes around 0.9% of Mason & Associates’ investment portfolio, making it the company’s 27th largest position.
Several other institutional investors have also adjusted their stakes in Advanced Micro Devices recently. HHM Wealth Advisors LLC increased its position by 2.4%, resulting in ownership of 1,742 shares worth about $282,000. Similarly, HBK Sorce Advisory LLC raised its stake by 0.3%, now possessing 13,404 shares valued at $2.17 million. Wilmington Savings Fund Society FSB and Moseley Investment Management Inc. both lifted their holdings by 0.5%, owning 8,706 shares worth $1.41 million and 8,883 shares valued at $1.44 million, respectively.
As a whole, approximately 71.34% of Advanced Micro Devices’ stock is held by hedge funds and institutional investors.
Analyst Insights on AMD Stock
Advanced Micro Devices has attracted attention from analysts, with various reports highlighting its potential. Melius Research set a price target of $380.00, while TD Cowen reaffirmed a “buy” rating in early December. KeyCorp also increased its target price from $270.00 to $300.00 and assigned an “overweight” rating. Overall, the consensus rating for Advanced Micro Devices stands at “Moderate Buy,” with an average price target of $288.17 according to MarketBeat.
Recent sentiment around the company has been driven by several factors. The CEO of Arista Networks indicated a shift in workloads from Nvidia to AMD, suggesting a significant change in market dynamics. This shift is expected to bolster demand for AMD’s data-center chips. Analysts have noted that AMD is gaining market share in the PC and server processor segments from Intel, signaling positive revenue potential.
Additionally, reports of AMD’s upcoming GPU releases have generated excitement regarding future sales, particularly in AI and graphics markets. The company is aggressively pursuing growth in the data-center sector, setting ambitious expansion targets that could enhance its competitive positioning.
Insider Trading Activity
In a notable development, CEO Lisa T. Su sold 125,000 shares of AMD on February 11, 2024, for a total of approximately $26.8 million. This sale resulted in a 3.81% reduction in her ownership stake. Following the transaction, she retains 3,152,476 shares valued at approximately $675.76 million. Additionally, Senior Vice President Ava Hahn sold 2,442 shares for about $572,453.64 in January, which represented a 12.99% decrease in her ownership.
Over the past three months, corporate insiders have sold a total of 291,342 shares, amounting to around $62.94 million. Insiders currently own only 0.06% of the company’s stock.
Advanced Micro Devices’ Financial Performance
As of the last trading session, shares of Advanced Micro Devices opened at $207.32. The company’s market capitalization stands at approximately $338.02 billion. Recent earnings reports indicate strong financial performance, with a reported earnings per share (EPS) of $1.53 for the quarter, exceeding the consensus estimate of $1.32. The company’s revenue reached $10.27 billion, a remarkable increase of 34.1% compared to the same quarter the previous year.
Looking ahead, analysts project an EPS of 3.87 for the current fiscal year, reflecting continued optimism about the company’s growth trajectory. Advanced Micro Devices has established itself as a key player in the semiconductor market, designing and producing a range of products including microprocessors and graphics processing units. Founded in 1969, the company has evolved significantly, now focusing on diversified semiconductor solutions for both consumer and commercial markets.
The ongoing developments in the semiconductor industry, coupled with Advanced Micro Devices’ strategic positioning, suggest a dynamic future for the company as it navigates competition and market opportunities.
