Harvard Management Co. Inc. Cuts Stake in Advanced Micro Devices, Inc. Shares

Harvard Management Co. Inc. has reduced its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 12.2% during the third quarter. This change was disclosed in their latest 13F filing with the Securities and Exchange Commission. After selling 78,700 shares, the institutional investor now owns 567,199 shares of the semiconductor manufacturer. Advanced Micro Devices accounts for 5.4% of Harvard Management Co. Inc.'s investment portfolio, making it their seventh largest position. As of the end of the recent quarter, Harvard Management Co. Inc.'s investment in Advanced Micro Devices was valued at approximately $93,066,000.

In recent times, other institutional investors have also adjusted their positions in Advanced Micro Devices. For example, Charles Schwab Investment Management Inc. raised its stake by 1.9% during the third quarter. They now possess 9,656,965 shares worth about $1,584,515,000 after acquiring an additional 177,700 shares. Similarly, the Swiss National Bank increased its holdings by 0.3%, now owning 4,797,575 shares worth $787,186,000 following the addition of 12,500 shares in the last quarter. Additionally, Shum Financial Group Inc. entered a new position in Advanced Micro Devices worth approximately $858,000 during the third quarter. Harvest Portfolios Group Inc. increased its stake by 4.4%, now holding 146,445 shares worth $24,029,000 after adding 6,168 shares. Principal Financial Group Inc. also boosted its holdings by 30.2%, reaching 2,537,968 shares valued at $416,430,000 after acquiring an additional 588,595 shares. Currently, hedge funds and other institutional investors own 71.34% of Advanced Micro Devices' stock.

Recent Analyst Ratings

Several brokerages have recently updated their ratings on Advanced Micro Devices. Evercore ISI raised their price target for the stock from $193.00 to $198.00, maintaining an "outperform" rating as of October 30th. Barclays, however, reduced their price target from $180.00 to $170.00, while retaining an "overweight" rating. Citigroup also adjusted their target, moving it from $210.00 to $200.00, with a recommendation to "buy." Morgan Stanley lowered their price objective from $178.00 to $169.00 and established an "equal weight" rating. Edward Jones initiated coverage on the stock with a "buy" rating back in August 20th. Currently, one investment analyst has assigned a sell rating, three have given a hold rating, and twenty-eight have issued buy ratings. Data from MarketBeat.com indicates that Advanced Micro Devices has an average rating of "Moderate Buy" along with a consensus target price of $192.79.

Advanced Micro Devices Stock Performance

As of the most recent trading session, Advanced Micro Devices stock opened at $137.18, showing an increase of 0.7%. The stock has a 50-day moving average of $152.16 and a 200-day moving average of $154.06. Key financial ratios include a current ratio of 2.50, a quick ratio of 1.78, and a debt-to-equity ratio of 0.03. The market capitalization of Advanced Micro Devices stands at $222.62 billion, with a PE ratio of 123.59 and a P/E/G ratio of 1.88. Over the past year, the stock has seen a low of $116.37 and a high of $227.30.

Earnings Report Highlights

Advanced Micro Devices most recently reported its quarterly earnings on October 29th, revealing an earnings per share (EPS) of $0.92, which matched analysts' expectations. The company recorded a return on equity of 6.62% and a net margin of 7.52%. During the quarter, revenue totaled $6.82 billion, surpassing the consensus estimate of $6.71 billion, marking a 17.6% year-over-year growth compared to the same quarter last year when the company achieved $0.53 EPS. Analysts predict that Advanced Micro Devices will report an EPS of 2.54 for the current fiscal year.

Insider Trading Activity

In other news regarding Advanced Micro Devices, Executive Vice President Forrest Eugene Norrod recently sold 40,540 shares on November 5th at an average price of $141.67, totaling about $5,743,301.80. Following this sale, he retains 293,347 shares, valued at roughly $41,558,469.49, marking a 12.14% reduction in his stake. Similarly, CEO Lisa T. Su sold 80,000 shares on November 6th, receiving about $11,509,600 at an average price of $143.87. After this trade, her holdings now stand at 3,566,762 shares, worth approximately $513,150,048.94, reflecting a 2.19% decrease in her ownership. Insiders currently hold about 0.73% of Advanced Micro Devices' stock.

Company Overview

Advanced Micro Devices, Inc. is a prominent global semiconductor company operating through various segments including Data Center, Client, Gaming, and Embedded. The company designs and provides x86 microprocessors, graphics processing units (GPUs), chipsets, and embedded processors, among other products. They also deliver semi-custom system-on-chip (SoC) products, various development services, and technology related to data processing units, field-programmable gate arrays (FPGAs), and adaptive SoC products.

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