Waverly Advisors 13F: Cuts AMD Stake by $668K

Waverly Advisors Adjusts Its Semiconductor Exposure

Waverly Advisors trimmed its stake in Advanced Micro Devices, Inc. NASDAQ:AMD during the period ended May 15, 2026, according to a Form 13F filed with the U.S. Securities and Exchange Commission. The firm sold 1,182 shares of the semiconductor designer, lowering its total holdings by 1.27% to 92,127 shares. At the close of the reporting window, that remaining block was valued at about $52.0 million.

The Reduction in Detail

The fund started the period holding 93,309 shares of the Santa Clara-based chipmaker. The modest reduction brings the total share count down to 92,127. Because 13F filings look backward at portfolio snapshots from past months, the report captures the fund's position at that specific moment and might not show what the manager has done since then.

AMD Shares Hover Near Recent Levels

The stock traded hands around $564.89 on the market, positioning the equity closer to its 52-week high of $658.52 than its low of $188.22. Advanced Micro Devices carries a price-to-earnings ratio of 143.43 alongside a forward P/E of 35.69, reflecting lofty expectations for earnings growth as data centers deploy its processors.

Wall Street Analysts Update Targets

Analyst sentiment around the company stays positive with multiple firms updating their views in recent weeks. On October 6, 2026, Citigroup maintained a buy rating while lifting its target to $800.00 from $575.00. Mizuho kept an outperform rating on the same day, moving its target from $580.00 to $705.00. Stifel also held a buy rating on October 5, 2026, raising its target to $700.00 from $635.00. StoneX reiterated a buy rating at $685.00 on September 29, 2026, while Rosenblatt kept a buy rating and a $700.00 target on the same day. Bank of America Securities maintained a buy rating on September 25, 2026, boosting its target to $720.00. Earlier, Piper Sandler initiated coverage with an overweight rating and a $600.00 target on September 10, 2026, and Raymond James upgraded the stock to a strong buy with a $641.00 target on August 25, 2026. Across 50 analyst opinions, the stock holds a consensus recommendation of strong buy with a mean price target of $636.21.

Inside Advanced Micro Devices

Led by CEO Dr. Lisa T. Su, Advanced Micro Devices designs high-performance processors, graphics chips, and artificial intelligence accelerators for data centers, personal computers, and gaming systems. The company competes across server and client markets with its EPYC and Ryzen product lines, aiming to capture a larger share of enterprise AI infrastructure spending.

What to Watch at Advanced Micro Devices, Inc.

Investors looking for fresh updates from the company can circle November 3, 2026, on their calendars, which is when management is slated to deliver its next quarterly earnings report. Future portfolio disclosures from institutional managers will show whether Waverly Advisors continues to trim or decides to rebuild its stake.