Cannon Advisors Inc. Sells 271 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Cannon Advisors Inc. lessened its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 7.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,344 shares of the semiconductor manufacturer’s stock after selling 271 shares during the period. Cannon Advisors Inc.’s holdings in Advanced Micro Devices were worth $404,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Advanced Micro Devices by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer’s stock valued at $18,143,884,000 after buying an additional 1,441,626 shares during the last quarter. State Street Corp boosted its stake 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 valued at $11,513,538,000 after purchasing an additional 1,580,035 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Advanced Micro Devices by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 35,079,256 shares of the semiconductor manufacturer’s stock worth $4,224,840,000 after purchasing an additional 835,413 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Advanced Micro Devices by 1.2% in the fourth quarter. Fisher Asset Management LLC now owns 24,086,020 shares of the semiconductor manufacturer’s stock worth $2,909,350,000 after purchasing an additional 290,784 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Advanced Micro Devices during the fourth quarter valued at $2,867,193,000. 71.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on AMD. Truist Financial set a $130.00 price objective on Advanced Micro Devices in a report on Wednesday, February 5th. Roth Capital set a $140.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, February 5th. UBS Group set a $175.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, February 5th. Wells Fargo & Company restated an “overweight” rating on shares of Advanced Micro Devices in a report on Wednesday, February 19th. Finally, Jefferies Financial Group lowered shares of Advanced Micro Devices from a “buy” rating to a “hold” rating and decreased their target price for the company from $135.00 to $120.00 in a research note on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and an average target price of $152.72.

Advanced Micro Devices Stock Performance

NASDAQ:AMD opened at $102.74 on Tuesday. The stock has a 50-day moving average price of $109.01 and a 200 day moving average price of $130.35. The stock has a market capitalization of $166.49 billion, a P/E ratio of 103.78, a P/E/G ratio of 1.11 and a beta of 1.74. Advanced Micro Devices, Inc. has a 12-month low of $94.73 and a 12-month high of $187.28. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.07. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. Equities research analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Philip Guido acquired 4,645 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were acquired at an average cost of $107.56 per share, with a total value of $499,616.20. Following the acquisition, the executive vice president now directly owns 33,522 shares of the company’s stock, valued at approximately $3,605,626.32. The trade was a 16.09 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.73% of the stock is currently owned by insiders.

Advanced Micro Devices Company 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.