Fmr LLC Sells 5,911,340 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Fmr LLC cut its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 18.1% in the third quarter, Holdings Channel.com reports. The firm owned 26,704,903 shares of the semiconductor manufacturer’s stock after selling 5,911,340 shares during the period. Fmr LLC’s holdings in Advanced Micro Devices were worth $4,381,740,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Semmax Financial Advisors Inc. boosted its stake in Advanced Micro Devices by 926.7% during the first quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer’s stock worth $28,000 after buying an additional 139 shares in the last quarter. Creative Capital Management Investments LLC increased its stake in Advanced Micro Devices by 124.6% in the third quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 86 shares during the period. ZRC Wealth Management LLC increased its stake in Advanced Micro Devices by 90.4% in the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 75 shares during the period. Fairway Wealth LLC acquired a new position in Advanced Micro Devices in the second quarter worth about $27,000. Finally, Morton Brown Family Wealth LLC boosted its holdings in Advanced Micro Devices by 94.4% during the second quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock valued at $27,000 after purchasing an additional 85 shares in the last quarter. Institutional investors own 71.34% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on AMD. Bank of America restated a “buy” rating and set a $180.00 target price on shares of Advanced Micro Devices in a research report on Thursday, October 3rd. Truist Financial cut their price objective on Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating for the company in a report on Wednesday, July 31st. Susquehanna restated a “positive” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, July 31st. StockNews.com cut Advanced Micro Devices from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. Finally, Piper Sandler reissued an “overweight” rating and issued a $180.00 price objective (down previously from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $192.79.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Forrest Eugene Norrod sold 40,540 shares of Advanced Micro Devices stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total value of $5,743,301.80. Following the completion of the transaction, the executive vice president now directly owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. This trade represents a 12.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Lisa T. Su sold 80,000 shares of Advanced Micro Devices stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total value of $11,509,600.00. Following the completion of the sale, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at approximately $513,150,048.94. The trade was a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.65% of the company’s stock.

Advanced Micro Devices Stock Up 2.0 %

Shares of NASDAQ AMD opened at $141.13 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50. Advanced Micro Devices, Inc. has a 52 week low of $116.37 and a 52 week high of $227.30. The stock has a market capitalization of $229.03 billion, a P/E ratio of 127.14, a PEG ratio of 1.91 and a beta of 1.71. The stock’s fifty day moving average is $153.45 and its 200 day moving average is $154.51.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, hitting the consensus estimate of $0.92. The company had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.71 billion. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.53 earnings per share. Sell-side analysts forecast that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current fiscal year.

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.