Fred Alger Management LLC Lowers Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Fred Alger Management LLC cut its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 33.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 443,911 shares of the semiconductor manufacturer’s stock after selling 220,612 shares during the period. Fred Alger Management LLC’s holdings in Advanced Micro Devices were worth $53,620,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Bear Mountain Capital Inc. acquired a new position in Advanced Micro Devices during the fourth quarter valued at approximately $25,000. Halbert Hargrove Global Advisors LLC purchased a new stake in Advanced Micro Devices during the 4th quarter worth $29,000. Summit Securities Group LLC acquired a new stake in Advanced Micro Devices in the 4th quarter valued at $31,000. Retirement Wealth Solutions LLC purchased a new position in Advanced Micro Devices in the fourth quarter valued at about $32,000. Finally, IAG Wealth Partners LLC lifted its stake in shares of Advanced Micro Devices by 74.7% during the fourth quarter. IAG Wealth Partners LLC now owns 276 shares of the semiconductor manufacturer’s stock worth $33,000 after purchasing an additional 118 shares in the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Philip Guido bought 4,645 shares of the stock in a transaction on Friday, February 7th. The shares were purchased at an average price 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 $3,605,626.32. This represents a 16.09 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total value of $1,670,725.00. Following the completion of the sale, the executive vice president now directly owns 1,713,710 shares of the company’s stock, valued at $163,607,893.70. This represents a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. StockNews.com downgraded Advanced Micro Devices from a “hold” rating to a “sell” rating in a report on Wednesday, March 26th. Barclays reduced their target price on shares of Advanced Micro Devices from $140.00 to $110.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Wedbush reaffirmed an “outperform” rating and set a $120.00 price target (up previously from $115.00) on shares of Advanced Micro Devices in a research note on Wednesday. Bank of America upgraded Advanced Micro Devices from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a research note on Wednesday. Finally, Hsbc Global Res cut Advanced Micro Devices from a “strong-buy” rating to a “moderate sell” rating in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.19.

Advanced Micro Devices Stock Up 1.9 %

AMD stock opened at $100.54 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.62 and a quick ratio of 1.83. Advanced Micro Devices, Inc. has a 12 month low of $76.48 and a 12 month high of $187.28. The firm has a market cap of $162.50 billion, a PE ratio of 101.55, a P/E/G ratio of 1.11 and a beta of 1.97. The firm has a 50 day simple moving average of $97.30 and a 200 day simple moving average of $117.39.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. The business had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.10 billion. During the same period in the previous year, the company earned $0.62 EPS. The firm’s revenue was up 35.9% on a year-over-year basis. Equities research analysts forecast that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

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.