State of Michigan Retirement System Has $117.11 Million Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

State of Michigan Retirement System lessened its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 12.4% during the fourth quarter, HoldingsChannel reports. The fund owned 969,540 shares of the semiconductor manufacturer’s stock after selling 137,300 shares during the quarter. Advanced Micro Devices accounts for about 0.6% of State of Michigan Retirement System’s investment portfolio, making the stock its 25th biggest holding. State of Michigan Retirement System’s holdings in Advanced Micro Devices were worth $117,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in Advanced Micro Devices by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,656,965 shares of the semiconductor manufacturer’s stock valued at $1,584,515,000 after buying an additional 177,700 shares during the last quarter. Swiss National Bank increased its stake in Advanced Micro Devices by 0.3% in the 3rd quarter. Swiss National Bank now owns 4,797,575 shares of the semiconductor manufacturer’s stock valued at $787,186,000 after buying an additional 12,500 shares during the last quarter. Shum Financial Group Inc. purchased a new stake in Advanced Micro Devices in the 3rd quarter valued at about $858,000. State Street Corp increased its stake in Advanced Micro Devices by 2.3% in 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 buying an additional 1,580,035 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in 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 valued at $5,597,337,000 after buying an additional 441,924 shares during the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

Wall Street Analysts Forecast Growth

AMD has been the subject of several research analyst reports. Melius Research restated a “hold” rating and set a $129.00 price target (down previously from $160.00) on shares of Advanced Micro Devices in a research note on Tuesday, January 28th. Susquehanna decreased their price target on shares of Advanced Micro Devices from $165.00 to $150.00 and set a “positive” rating for the company in a research note on Wednesday, February 5th. Wolfe Research lowered shares of Advanced Micro Devices from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 16th. Truist Financial set a $130.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, February 5th. Finally, Loop Capital initiated coverage on shares of Advanced Micro Devices in a research note on Tuesday, January 14th. They set a “buy” rating and a $175.00 price target for the company. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nineteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $155.83.

Insider Activity

In related news, EVP Philip Guido acquired 4,645 shares of the stock in a transaction dated Friday, February 7th. The shares were purchased at an average price of $107.56 per share, for a total transaction of $499,616.20. Following the transaction, the executive vice president now owns 33,522 shares in the company, valued at $3,605,626.32. This represents a 16.09 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Lisa T. Su sold 76,496 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total transaction of $10,912,919.36. Following the sale, the chief executive officer now owns 3,566,762 shares in the company, valued at approximately $508,834,266.92. This trade represents a 2.10 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.

Advanced Micro Devices Stock Down 1.6 %

Shares of NASDAQ:AMD opened at $98.23 on Tuesday. The firm has a fifty day moving average price of $116.41 and a two-hundred day moving average price of $136.49. 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 one year low of $97.09 and a one year high of $227.30. The company has a market cap of $159.18 billion, a price-to-earnings ratio of 99.22, a PEG ratio of 1.11 and a beta of 1.65.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 EPS for the quarter, meeting the consensus estimate of $1.07. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. Analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 EPS 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.