Amundi 13F: Cuts Advanced Micro Devices (AMD) Stake by $1.2B
Amundi reduced its stake in Advanced Micro Devices, Inc. by 2,147,939 shares during the period.
Reviewed by automated data checks against the source filing. How we make and check alerts
Amundi sold 2,147,939 shares from its stake in Advanced Micro Devices, Inc. ($AMD), a 13.57% decrease, according to a 13F filing with the SEC dated May 18, 2026. It reported 13,680,956 shares worth $7.73 billion at the end of the quarter.
Since the filing, $AMD is up 19.7% after 1 week, up 21.7% after 1 month and up 25.6% to date (from the $420.99 close on May 18, 2026).
AMD
Advanced Micro Devices, Inc.
Key Points
- Amundi cut its position in Advanced Micro Devices, Inc. by 13.6%, leaving the fund with 13,680,956 shares valued at roughly $7.73 billion.
- Shares of Advanced Micro Devices, Inc. trade near $564.89, well above its 200-day moving average of $392.68.
- Wall Street firms like Citigroup and Mizuho recently updated their outlooks on the semiconductor firm ahead of November earnings.
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Amundi Adjusts Portfolio With AMD Sale
Amundi reduced its investment in Advanced Micro Devices, Inc. (NasdaqGS: AMD) during the reporting period, according to a recent Form 13F filing with the SEC. The firm let go of 2,147,939 shares, cutting its exposure by 13.6%. Even with the reduction, the remaining holdings total 13,680,956 shares with a reported value of about $7.73 billion.
Trimming the Chip Giant Position
The move brought Amundi down from its previous count of 15,828,895 shares in the semiconductor maker. Because 13F filings look backward at past quarters, this snapshot shows the fund's position at that specific point in time and might not match its exact share count today. The adjustment lets the firm lock in capital or rebalance after earlier gains in the chip sector.
How Advanced Micro Devices Stock Trades
The stock recently changed hands around $564.89 per share. That price sits far above its 200-day moving average of $392.68 and its 50-day moving average of $536.35, reflecting a strong multi-month run for the chipmaker. The company's trailing price-to-earnings ratio stands at 143.43, while its forward P/E sits at 35.69.
Analysts Set New Price Targets
Wall Street firms have kept busy updating their views on the company. On October 6, 2026, Citigroup kept a Buy rating and raised its price target to $800.00 from $575.00. On the same day, Mizuho maintained an Outperform rating and pushed its target to $705.00 from $580.00. Stifel followed on October 5, 2026, keeping a Buy rating and lifting its target to $700.00 from $635.00. Earlier in September, B of A Securities maintained a Buy rating with a $720.00 target, while Piper Sandler initiated coverage with an Overweight rating and a $600.00 target.
What Advanced Micro Devices Builds
Based in Santa Clara, California, Advanced Micro Devices designs high-performance processors, graphics cards, and artificial intelligence hardware for data centers, personal computers, and gaming systems. Its products power cloud providers, corporate servers, and consumer machines around the globe. The company employs roughly 31,000 workers.
Looking Ahead to Earnings
Investors will look toward the company's next financial results release scheduled for November 3, 2026, for fresh updates on demand for artificial intelligence accelerators and data center products. Additional regulatory filings will show whether other major institutional investors followed Amundi's lead or continued adding to their share counts.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
21 analysts raised price targets.
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EPS & revenue
EPS beat estimates by 4.8%. Revenue beat estimates by 2.6%.
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Profit surprise
EBITDA missed by 4 percent. Operating income missed by 32 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
3 upgrades, 2 downgrades, 21 target raises.
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Earnings quality
Gross margin up 2.6 points. Operating margin up 3.6 points. Positive free cash flow.
Earnings Call Summary
AMD reported outstanding first quarter results with $10.3 billion in revenue, up 38 percent year over year. Data center revenue surged 57 percent driven by strong demand for EPYC server CPUs and Instinct GPUs. Management emphasized that Agentic AI and inference workloads are driving substantially higher CPU demand than expected, requiring more compute than prior models. Free cash flow nearly tripled to $2.6 billion, and operating margin expanded to 25 percent, showing strong operational leverage as the business scales into AI infrastructure.
Guidance AMD guided next quarter revenue to about $11.2 billion, up 46 percent year over year. Management raised full year data center CPU growth forecast to over 70 percent, driven by strong Agentic AI demand. They also raised the long-term server CPU market size forecast to over $120 billion by 2030, from $60 billion announced in November.
Slightly positive report. The quarter was acceptable, but the forward setup is not strong.
Related Filing Alerts
Source: Amundi's 13F filing on $AMD (May 18, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Find the original filing: Amundi 13F filings on SEC EDGAR. Written by software, not financial advice. How we make alerts