Corebridge Financial Inc. Reduces Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Corebridge Financial Inc. trimmed its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 5.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 507,101 shares of the semiconductor manufacturer’s stock after selling 27,626 shares during the quarter. Corebridge Financial Inc.’s holdings in Advanced Micro Devices were worth $61,253,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMD. Vanguard Group Inc. lifted its holdings in Advanced Micro Devices by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer’s stock worth $18,143,884,000 after buying an additional 1,441,626 shares during the period. State Street Corp raised its holdings in shares of Advanced Micro Devices by 2.3% during the third quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock valued at $11,513,538,000 after acquiring an additional 1,580,035 shares in the last quarter. Geode Capital Management LLC lifted its stake in Advanced Micro Devices by 1.3% in the third quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock worth $5,597,337,000 after acquiring an additional 441,924 shares during the period. Fisher Asset Management LLC boosted its holdings in Advanced Micro Devices by 1.2% in the fourth quarter. Fisher Asset Management LLC now owns 24,086,020 shares of the semiconductor manufacturer’s stock valued at $2,909,350,000 after acquiring an additional 290,784 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Advanced Micro Devices by 8.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,472,211 shares of the semiconductor manufacturer’s stock valued at $3,195,000,000 after purchasing an additional 1,565,083 shares during the period. 71.34% of the stock is currently owned by institutional investors.

Insider Activity

In other Advanced Micro Devices news, EVP Philip Guido purchased 4,645 shares of Advanced Micro Devices stock in a transaction dated Friday, February 7th. The stock was purchased at an average price of $107.56 per share, with a total value of $499,616.20. Following the transaction, the executive vice president now directly owns 33,522 shares of the company’s stock, valued at $3,605,626.32. This trade represents a 16.09 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AMD. Citigroup reaffirmed a “buy” rating on shares of Advanced Micro Devices in a research report on Wednesday, February 19th. Morgan Stanley set a $137.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, February 5th. HSBC reiterated a “reduce” rating and set a $110.00 target price (down previously from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, January 8th. Piper Sandler restated an “overweight” rating on shares of Advanced Micro Devices in a research note on Wednesday, February 19th. Finally, Mizuho reduced their price target on Advanced Micro Devices from $140.00 to $120.00 and set an “outperform” rating on the stock in a research note on Friday, March 14th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, nineteen have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Advanced Micro Devices has an average rating of “Moderate Buy” and a consensus target price of $155.14.

Advanced Micro Devices Price Performance

AMD opened at $106.44 on Monday. The company’s 50-day simple moving average is $110.28 and its two-hundred day simple moving average is $131.78. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62. The stock has a market capitalization of $172.48 billion, a P/E ratio of 107.52, a P/E/G ratio of 1.11 and a beta of 1.74. Advanced Micro Devices, Inc. has a 52-week low of $94.73 and a 52-week high of $187.28.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.07. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. As a group, analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

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.