Grimes & Company Inc. Cuts Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Grimes & Company Inc. cut its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 1.3% during the 4th quarter, Holdings Channel reports. The firm owned 125,195 shares of the semiconductor manufacturer’s stock after selling 1,637 shares during the quarter. Grimes & Company Inc.’s holdings in Advanced Micro Devices were worth $15,122,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp increased its holdings in Advanced Micro Devices by 2.3% during the 3rd quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after acquiring an additional 1,580,035 shares during the period. Geode Capital Management LLC increased its holdings in shares of Advanced Micro Devices by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock worth $5,597,337,000 after buying an additional 441,924 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of Advanced Micro Devices by 2.8% in the 3rd quarter. Fisher Asset Management LLC now owns 23,795,236 shares of the semiconductor manufacturer’s stock worth $3,904,323,000 after buying an additional 644,039 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Advanced Micro Devices by 8.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,472,211 shares of the semiconductor manufacturer’s stock worth $3,195,000,000 after buying an additional 1,565,083 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Advanced Micro Devices by 1.4% in the 2nd quarter. Legal & General Group Plc now owns 13,310,158 shares of the semiconductor manufacturer’s stock worth $2,159,039,000 after buying an additional 188,580 shares during the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total value of $5,743,301.80. Following the completion of the sale, the executive vice president now directly owns 293,347 shares of the company’s stock, valued at $41,558,469.49. This represents a 12.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Lisa T. Su sold 76,496 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $142.66, for a total transaction of $10,912,919.36. Following the completion of the sale, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at approximately $508,834,266.92. This trade represents a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 197,036 shares of company stock valued at $28,165,821. 0.73% of the stock is currently owned by company insiders.

Advanced Micro Devices Trading Down 0.2 %

AMD stock opened at $122.84 on Friday. The stock has a market capitalization of $199.35 billion, a price-to-earnings ratio of 110.67, a price-to-earnings-growth ratio of 1.09 and a beta of 1.66. Advanced Micro Devices, Inc. has a twelve month low of $114.41 and a twelve month high of $227.30. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. The firm’s fifty day simple moving average is $128.12 and its two-hundred day simple moving average is $143.73.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.92. The firm had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The business’s revenue was up 17.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.53 earnings per share. As a group, analysts anticipate that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on AMD shares. Citigroup reduced their target price on shares of Advanced Micro Devices from $200.00 to $175.00 and set a “buy” rating on the stock in a report on Tuesday. StockNews.com lowered shares of Advanced Micro Devices from a “hold” rating to a “sell” rating in a report on Tuesday, January 14th. Bank of America lowered shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and reduced their target price for the company from $180.00 to $155.00 in a report on Monday, December 9th. Evercore ISI increased their target price on shares of Advanced Micro Devices from $193.00 to $198.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group cut shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and dropped their price target for the company from $175.00 to $129.00 in a research report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Advanced Micro Devices has a consensus rating of “Moderate Buy” and an average price target of $176.33.

Advanced Micro Devices Profile

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates through Data Center, Client, Gaming, and Embedded segments. The company offers x86 microprocessors and graphics processing units (GPUs) as an accelerated processing unit, chipsets, data center, and professional GPUs; and embedded processors, and semi-custom system-on-chip (SoC) products, microprocessor and SoC development services and technology, data processing unites, field programmable gate arrays (FPGA), and adaptive SoC products.