Baillie Gifford & Co. Cuts Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Baillie Gifford & Co. trimmed its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 16.7% during the third quarter, HoldingsChannel reports. The firm owned 7,001,808 shares of the semiconductor manufacturer’s stock after selling 1,401,605 shares during the quarter. Advanced Micro Devices accounts for about 0.9% of Baillie Gifford & Co.’s investment portfolio, making the stock its 26th biggest holding. Baillie Gifford & Co.’s holdings in Advanced Micro Devices were worth $1,148,857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in AMD. Harvest Portfolios Group Inc. raised its holdings in shares of Advanced Micro Devices by 4.4% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 146,445 shares of the semiconductor manufacturer’s stock worth $24,029,000 after purchasing an additional 6,168 shares during the period. Principal Financial Group Inc. grew its stake in shares of Advanced Micro Devices by 30.2% during the 3rd quarter. Principal Financial Group Inc. now owns 2,537,968 shares of the semiconductor manufacturer’s stock worth $416,430,000 after acquiring an additional 588,595 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Advanced Micro Devices by 59.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 309,561 shares of the semiconductor manufacturer’s stock worth $50,214,000 after acquiring an additional 116,020 shares during the last quarter. Laffer Tengler Investments Inc. raised its stake in Advanced Micro Devices by 3,139.2% in the 3rd quarter. Laffer Tengler Investments Inc. now owns 10,236 shares of the semiconductor manufacturer’s stock valued at $1,680,000 after acquiring an additional 9,920 shares during the period. Finally, Pittenger & Anderson Inc. lifted its holdings in Advanced Micro Devices by 338.8% during the third quarter. Pittenger & Anderson Inc. now owns 47,695 shares of the semiconductor manufacturer’s stock valued at $7,826,000 after purchasing an additional 36,825 shares during the last quarter. Institutional investors own 71.34% of the company’s stock.

Insider Transactions at Advanced Micro Devices

In related news, CEO Lisa T. Su sold 80,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total value of $11,509,600.00. Following the transaction, the chief executive officer now owns 3,566,762 shares in the company, valued at $513,150,048.94. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 40,540 shares of Advanced Micro Devices stock in a transaction on 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 sale, the executive vice president now owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lisa T. Su sold 80,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total value of $11,509,600.00. Following the transaction, the chief executive officer now directly owns 3,566,762 shares in the company, valued at approximately $513,150,048.94. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

Advanced Micro Devices Trading Down 0.4 %

Shares of NASDAQ AMD opened at $147.35 on Tuesday. The stock has a market cap of $239.12 billion, a P/E ratio of 132.75, a price-to-earnings-growth ratio of 2.05 and a beta of 1.71. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78. Advanced Micro Devices, Inc. has a 1 year low of $116.00 and a 1 year high of $227.30. The firm has a 50-day moving average of $154.41 and a 200 day moving average of $155.52.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, hitting analysts’ consensus estimates of $0.92. The firm 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 revenue for the quarter was up 17.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.53 EPS. As a group, sell-side analysts expect that Advanced Micro Devices, Inc. will post 2.53 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on AMD. Piper Sandler restated an “overweight” rating and set a $180.00 price target (down from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. TD Cowen cut their price target on Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. StockNews.com cut Advanced Micro Devices from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. Morgan Stanley decreased their price target on Advanced Micro Devices from $178.00 to $169.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 30th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $180.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Advanced Micro Devices has an average rating of “Moderate Buy” and a consensus target price of $192.79.

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.