Intech Investment Management LLC Sells 30,801 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Intech Investment Management LLC lowered its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 13.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 195,586 shares of the semiconductor manufacturer’s stock after selling 30,801 shares during the quarter. Intech Investment Management LLC’s holdings in Advanced Micro Devices were worth $32,092,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. King Luther Capital Management Corp grew its holdings in shares of Advanced Micro Devices by 7.7% during the 3rd quarter. King Luther Capital Management Corp now owns 54,994 shares of the semiconductor manufacturer’s stock worth $9,023,000 after acquiring an additional 3,919 shares during the period. Cornerstone Advisors LLC lifted its position in Advanced Micro Devices by 11.7% in the 3rd quarter. Cornerstone Advisors LLC now owns 70,400 shares of the semiconductor manufacturer’s stock valued at $11,551,000 after acquiring an additional 7,400 shares in the last quarter. Citizens Financial Group Inc. RI lifted its holdings in shares of Advanced Micro Devices by 11.0% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 15,954 shares of the semiconductor manufacturer’s stock valued at $2,618,000 after buying an additional 1,583 shares during the period. Moors & Cabot Inc. lifted its holdings in shares of Advanced Micro Devices by 10.9% during the 3rd quarter. Moors & Cabot Inc. now owns 21,018 shares of the semiconductor manufacturer’s stock valued at $3,449,000 after buying an additional 2,062 shares during the period. Finally, Altman Advisors Inc. bought a new position in Advanced Micro Devices in the 3rd quarter worth $1,493,000. Institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Stock Down 1.3 %

AMD stock opened at $137.60 on Thursday. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a fifty-two week low of $116.37 and a fifty-two week high of $227.30. The firm’s 50-day simple moving average is $154.22 and its 200 day simple moving average is $154.82. The stock has a market cap of $223.30 billion, a PE ratio of 123.96, a price-to-earnings-growth 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 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.92. The business had revenue of $6.82 billion for 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 company’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.53 EPS. As a group, sell-side analysts predict that Advanced Micro Devices, Inc. will post 2.53 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Morgan Stanley reduced their price objective on Advanced Micro Devices from $178.00 to $169.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 30th. Susquehanna reissued a “positive” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, July 31st. Bank of America reissued a “buy” rating and set a $180.00 target price on shares of Advanced Micro Devices in a research note on Thursday, October 3rd. Citigroup cut 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 report on Wednesday, October 30th. Finally, Truist Financial cut their price target on shares of Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating for the company in a report on Wednesday, July 31st. One equities research 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.79.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total value of $5,743,301.80. Following the completion of the transaction, the executive vice president now directly owns 293,347 shares in the company, valued at $41,558,469.49. This trade represents a 12.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Lisa T. Su sold 80,000 shares of the firm’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 transaction of $11,509,600.00. Following the sale, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at approximately $513,150,048.94. This represents a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.65% 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.