Pictet North America Advisors 13F: Cuts AMD Stake by $1.1M
Key Points
- Pictet North America Advisors cut its AMD holdings by 7.9% to end with 21,084 shares valued at about $12.9 million.
- Advanced Micro Devices operates in semiconductors across data center, client, gaming, and embedded segments with $41.3 billion in trailing annual revenue.
- Wall Street analysts maintain a strong buy consensus on AMD with multiple firms raising price targets through October 2026.
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Pictet North America Advisors reduced its investment in Advanced Micro Devices, Inc. (AMD) by 1,805 shares during the period, according to a Form 13F filing filed with the SEC on October 21, 2026.
The fund trimmed its position by 7.9%, bringing its total ownership down to 21,084 shares. The remaining stake was valued at approximately $12.9 million at the time of the report.
AMD
Advanced Micro Devices, Inc.
Other Institutional Activity in Advanced Micro Devices, Inc.
Other major investors have also adjusted their positions in the semiconductor giant recently. Sumitomo Mitsui DS Asset Management Company grew its holdings by 6,793 shares, ending with 272,294 shares worth about $166.6 million. Accurate Wealth Management raised its position by 2,454 shares, or 18.1%, to hold 16,040 shares valued at roughly $9.7 million. Meanwhile, Quilter trimmed its stake by 80,337 shares, or 10.8%, leaving it with 663,518 shares worth about $405.9 million.
Advanced Micro Devices, Inc. Stock Down 1.0%
Advanced Micro Devices, Inc. shares closed at $552.72 on October 21, 2026. The stock recently traded around $552.70 on October 22, 2026, sitting well above its 200-day moving average of $399.08 and roughly 16.1% below its 52-week high of $658.52.
Recent Earnings
Advanced Micro Devices, Inc. generated $41.3 billion in trailing-twelve-month revenue with an earnings per share of $3.92. The company posted a net profit margin of 15.6% and a return on equity of 10.2%. Its next quarterly earnings report is scheduled for November 3, 2026.
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.
Insider Buying and Selling at Advanced Micro Devices, Inc.
Company insiders have executed several transactions in recent months. Chief Financial Officer Jean X Hu sold 15,000 shares on August 25, 2026, for a total value of about $7.1 million. Chief Executive Officer Lisa T Su sold 95,000 shares on September 10, 2026, valued at approximately $48.1 million. Officer Forrest Eugene Norrod sold 17,261 shares on September 15, 2026, and an additional 17,262 shares on October 15, 2026.
Analysts Set New Price Targets
Wall Street firms have actively updated their views on the stock. On October 5, 2026, Stifel maintained a Buy rating and raised its price target from $635.00 to $700.00. Citigroup maintained a Buy rating on October 6, 2026, lifting its target from $575.00 to $800.00. Mizuho maintained an Outperform rating on October 6, 2026, raising its target from $580.00 to $705.00. Wedbush reiterated its Outperform rating with a $600.00 target on October 20, 2026. Finally, Susquehanna maintained a Positive rating on October 21, 2026, bumping its target from $550.00 to $620.00. Overall, the stock carries a strong buy recommendation from 50 analysts, with a mean price target of $637.61.
About Advanced Micro Devices, Inc.
Advanced Micro Devices, Inc. is a Santa Clara, California-based technology company that designs semiconductors for computers, servers, and embedded systems. Operating through data center, client, gaming, and embedded divisions, the company competes in markets driven by artificial intelligence and high-performance computing.
Bottom Line
Investors are keeping a close eye on Advanced Micro Devices, Inc. as the company prepares to report its next earnings results on November 3, 2026. Institutional adjustments and analyst target revisions continue to shape market sentiment around the stock.
Related Filing Alerts
Source: Pictet North America Advisors's 13F filing on $AMD (Oct 21, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts