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

Fred Alger Management LLC lessened its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 25.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 664,523 shares of the semiconductor manufacturer’s stock after selling 223,504 shares during the period. Fred Alger Management LLC’s holdings in Advanced Micro Devices were worth $109,035,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Creative Capital Management Investments LLC lifted its position in shares of Advanced Micro Devices by 124.6% during the 3rd quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 86 shares during the last quarter. ZRC Wealth Management LLC grew its holdings in Advanced Micro Devices by 90.4% during the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 75 shares during the period. Morton Brown Family Wealth LLC lifted its position in Advanced Micro Devices by 94.4% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock valued at $27,000 after acquiring an additional 85 shares in the last quarter. Fairway Wealth LLC bought a new position in shares of Advanced Micro Devices in the 2nd quarter valued at about $27,000. Finally, Chelsea Counsel Co. bought a new stake in Advanced Micro Devices in the first quarter valued at approximately $34,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

Advanced Micro Devices Trading Down 1.1 %

NASDAQ:AMD opened at $136.24 on Friday. Advanced Micro Devices, Inc. has a 12-month low of $116.37 and a 12-month 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 stock’s 50 day simple moving average is $152.53 and its 200-day simple moving average is $154.16. The firm has a market cap of $221.09 billion, a P/E ratio of 122.74, a PEG ratio of 1.88 and a beta of 1.71.

Advanced Micro Devices (NASDAQ:AMD) last announced 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. The company had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. Advanced Micro Devices’s quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 EPS. Equities analysts anticipate that Advanced Micro Devices, Inc. will post 2.54 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on AMD shares. Roth Mkm reissued a “buy” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a research note on Friday, October 11th. Benchmark restated a “buy” rating and set a $200.00 price target on shares of Advanced Micro Devices in a research note on Thursday, October 31st. UBS Group reduced their price objective on shares of Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $180.00 price target on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $180.00 price target (down from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.79.

Insider Activity at Advanced Micro Devices

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. The trade was a 12.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Lisa T. Su sold 80,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the completion of the transaction, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at approximately $513,150,048.94. This trade represents a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is owned by insiders.

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.