Mason & Associates Inc increased its investment in Advanced Micro Devices, Inc. (NASDAQ: AMD) by 16.8% in the third quarter of 2023, according to a recent filing with the Securities and Exchange Commission (SEC). The firm now holds 26,370 shares of the semiconductor manufacturer, valued at approximately $4.27 million after acquiring an additional 3,789 shares during the period. This positions AMD as the 27th largest holding in Mason & Associates’ portfolio, comprising about 0.9% of its total investments.
Multiple institutional investors have also adjusted their stakes in Advanced Micro Devices. HHM Wealth Advisors LLC raised its holdings by 2.4% in the same quarter, owning 1,742 shares valued at $282,000 after purchasing 40 additional shares. Similarly, HBK Sorce Advisory LLC increased its stake by 0.3%, resulting in ownership of 13,404 shares worth $2.17 million. Other firms, including Wilmington Savings Fund Society FSB and Moseley Investment Management Inc., showed comparable increases in their AMD positions.
As of the latest reporting period, institutional investors collectively own 71.34% of AMD’s stock, highlighting significant institutional interest in the company.
Analyst Ratings and Market Sentiment
Advanced Micro Devices has been the subject of numerous analyst ratings recently. Melius Research set a price target of $380.00, while TD Cowen maintained a “buy” rating. KeyCorp raised its target price from $270.00 to $300.00, categorizing the stock as “overweight.” Analysts from JPMorgan Chase & Co. and Mizuho have also adjusted their price targets upward, reflecting growing optimism around AMD’s market performance. Currently, the consensus rating stands at “Moderate Buy,” with an average price target of $288.17.
Recent news has contributed to positive sentiment surrounding AMD. Notably, Arista Networks’ CEO indicated that her company is shifting workloads from Nvidia to AMD, now allocating approximately 20-25% of its business to AMD compared to nearly 99% to Nvidia a year ago. This transition may bolster demand for AMD’s data-center chips.
Analysts also noted that AMD is capturing market share in the PC and server processor segments from Intel. This shift reinforces expectations of revenue growth in CPUs, supporting both margins and data-center momentum. Furthermore, leaked information regarding AMD’s next-generation GPU release has heightened anticipation, positively impacting investor sentiment.
Insider Transactions and Company Performance
In other developments, AMD’s CEO, Lisa T. Su, sold 125,000 shares of stock in a transaction on February 11, 2024, valued at approximately $26.8 million. Following this sale, Su maintains ownership of 3,152,476 shares, representing a 3.81% decrease in her stake. Additionally, EVP Forrest Norrod sold around 19,450 shares for approximately $4.2 million on the same day, contributing to market speculation regarding insider sentiment.
Despite positive developments, some analysts have raised concerns about AMD’s performance in networking and software stack areas, suggesting that the company may face challenges if competitors strengthen their integrated offerings.
AMD’s stock performance reflects ongoing investor interest. As of the latest trading session, shares opened at $207.32. The company boasts a market capitalization of $338.02 billion, with a PE ratio of 78.23. Over the past twelve months, AMD’s stock reached a low of $76.48 and a high of $267.08.
Advanced Micro Devices continues to position itself as a formidable player in the semiconductor industry, with a diversified product portfolio that includes microprocessors, graphics processors, and adaptive computing solutions. Founded in 1969, AMD has evolved significantly, catering to a wide range of markets, including consumer and commercial sectors. As the company navigates a competitive landscape, its recent financial maneuvers and market sentiment will be pivotal in shaping its future trajectory.
