California State Teachers Retirement System 13F: Cuts AMD Stake by $30M

California State Teachers Retirement System Cuts AMD Holdings

The California State Teachers Retirement System has trimmed its stake in Advanced Micro Devices, Inc. (AMD) by 53,866 shares. This reduction brings its total holdings to 2,461,412 shares, valued at approximately $1.39 billion as of May 18, 2026. The latest Form 13F filing with the SEC reflects these holdings, which may not represent the fund's current position.

What's Behind the Trim

The California State Teachers Retirement System's reduction of 2.1% in its AMD position indicates a strategic move, as it previously held 2,515,278 shares. The fund's decision to trim its stake could be influenced by various market factors or portfolio adjustments, but the specific reasons were not disclosed.

Institutional Activity in AMD

There were no other funds reported in the peer group for AMD during this filing period. However, market interest in AMD remains strong, as seen in recent coverage of other investment activities. For instance, on October 14, 2026, First Citizens Bank & Trust significantly increased its AMD holdings by over 207%, showing confidence in the semiconductor sector.

Stock Performance Insights

AMD shares traded at $564.89 on the NasdaqGS on May 18, 2026, slightly down from the previous close of $570.82. The stock has seen fluctuations, with a 52-week range between $188.22 and $658.52. This recent trim comes as the stock hovers above its 50-day moving average of $536.35, suggesting it is maintaining a solid position in the market.

Analysts Set New Price Targets

On October 6, 2026, Citigroup maintained its Buy rating on AMD with a price target of $800, up from $575. Mizuho also kept its Outperform rating with a new target of $705, increased from $580. Stifel, StoneX, and Rosenblatt further affirmed their Buy ratings with targets ranging from $685 to $700. The consensus among analysts remains a strong buy, with a mean price target of $636.21 based on 50 opinions.

What Advanced Micro Devices, Inc. Does

Advanced Micro Devices, Inc. is a semiconductor company based in Santa Clara, California. It designs and manufactures a variety of products including microprocessors, GPUs, and AI accelerators, serving various sectors including data centers and gaming. The recent activity from the California State Teachers Retirement System highlights ongoing investor interest in AMD amidst a competitive market.

What's Next for AMD

Investors will be watching AMD closely as it approaches its next earnings report scheduled for November 3, 2026. The recent 13F filing reflects past holdings and may not represent current positions, so further filings will be important to track any changes in institutional investments.