Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Sold by MAI Capital Management

MAI Capital Management decreased its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 8.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 98,568 shares of the semiconductor manufacturer’s stock after selling 9,263 shares during the quarter. MAI Capital Management’s holdings in Advanced Micro Devices were worth $16,173,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in AMD. International Assets Investment Management LLC boosted its stake in Advanced Micro Devices by 17,137.3% during the 3rd quarter. International Assets Investment Management LLC now owns 7,860,909 shares of the semiconductor manufacturer’s stock valued at $1,289,818,000 after purchasing an additional 7,815,305 shares during the period. Van ECK Associates Corp grew its holdings in Advanced Micro Devices by 52.6% in the 2nd quarter. Van ECK Associates Corp now owns 8,645,658 shares of the semiconductor manufacturer’s stock worth $1,402,412,000 after buying an additional 2,979,204 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Advanced Micro Devices by 42.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock valued at $1,381,679,000 after acquiring an additional 2,497,056 shares during the period. Renaissance Technologies LLC bought a new stake in Advanced Micro Devices during the 2nd quarter valued at $296,178,000. Finally, Swedbank AB acquired a new position in Advanced Micro Devices during the 1st quarter worth $290,842,000. 71.34% of the stock is currently owned by institutional investors.

Advanced Micro Devices Stock Performance

Shares of NASDAQ AMD opened at $138.93 on Tuesday. Advanced Micro Devices, Inc. has a one year low of $116.37 and a one year high of $227.30. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. The business has a fifty day simple moving average of $154.53 and a 200 day simple moving average of $155.02. The firm has a market capitalization of $225.46 billion, a price-to-earnings ratio of 125.16, a PEG ratio of 1.87 and a beta of 1.71.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, hitting analysts’ consensus estimates of $0.92. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The company had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same period last year, the firm earned $0.53 EPS. The firm’s revenue for the quarter was up 17.6% compared to the same quarter last year. Sell-side analysts expect that Advanced Micro Devices, Inc. will post 2.53 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on AMD shares. Roth Mkm restated a “buy” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research note on Friday, October 11th. Edward Jones initiated coverage on shares of Advanced Micro Devices in a research note on Tuesday, August 20th. They issued a “buy” rating for the company. Morgan Stanley lowered 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. Susquehanna reaffirmed a “positive” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Finally, TD Cowen cut their price objective on shares of Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $192.79.

Insider Activity

In other news, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total transaction 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 12.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Lisa T. Su sold 80,000 shares of the business’s 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 transaction, the chief executive officer now directly owns 3,566,762 shares in the company, valued at $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 0.73% of the company’s stock.

About Advanced Micro Devices

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.