Concentric Capital Strategies LP Has $16.15 Million Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Concentric Capital Strategies LP decreased its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 39.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,419 shares of the semiconductor manufacturer’s stock after selling 63,569 shares during the quarter. Advanced Micro Devices makes up about 0.7% of Concentric Capital Strategies LP’s investment portfolio, making the stock its 19th largest position. Concentric Capital Strategies LP’s holdings in Advanced Micro Devices were worth $16,149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in Advanced Micro Devices by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,656,965 shares of the semiconductor manufacturer’s stock worth $1,584,515,000 after acquiring an additional 177,700 shares during the last quarter. Swiss National Bank boosted its stake in Advanced Micro Devices by 0.3% in the third quarter. Swiss National Bank now owns 4,797,575 shares of the semiconductor manufacturer’s stock worth $787,186,000 after purchasing an additional 12,500 shares in the last quarter. Shum Financial Group Inc. bought a new stake in shares of Advanced Micro Devices during the third quarter worth $858,000. Harvest Portfolios Group Inc. raised its holdings in shares of Advanced Micro Devices by 4.4% in the third quarter. Harvest Portfolios Group Inc. now owns 146,445 shares of the semiconductor manufacturer’s stock valued at $24,029,000 after buying an additional 6,168 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in 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 buying an additional 588,595 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Advanced Micro Devices Stock Up 0.7 %

AMD stock opened at $137.18 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78. The stock has a market capitalization of $222.62 billion, a P/E ratio of 123.59, a P/E/G ratio of 1.89 and a beta of 1.71. Advanced Micro Devices, Inc. has a fifty-two week low of $116.37 and a fifty-two week high of $227.30. The business has a 50-day moving average of $152.16 and a 200-day moving average of $154.03.

Advanced Micro Devices (NASDAQ:AMD) last issued 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 during the quarter, compared to analysts’ expectations of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The business’s quarterly revenue was up 17.6% on a year-over-year basis. During the same period last year, the business earned $0.53 EPS. On average, sell-side analysts anticipate that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AMD. Evercore ISI boosted their target price on shares of Advanced Micro Devices from $193.00 to $198.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Citigroup dropped their price objective on shares of Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. TD Cowen decreased their price objective on 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. Barclays dropped their target price on Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $180.00 price objective (down from $200.00) 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 issued a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $192.79.

Insider Buying and Selling at Advanced Micro Devices

In related news, CEO Lisa T. Su sold 80,000 shares of the business’s stock in a transaction on 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 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 2.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction 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 represents a 12.14 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.73% of the company’s stock.

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.