California Public Employees Retirement System Decreases Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

California Public Employees Retirement System cut its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 2.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,903,227 shares of the semiconductor manufacturer’s stock after selling 64,285 shares during the period. California Public Employees Retirement System’s holdings in Advanced Micro Devices were worth $427,965,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of AMD. RWA Wealth Partners LLC purchased a new position in shares of Advanced Micro Devices during the fourth quarter valued at approximately $788,000. Sage Mountain Advisors LLC raised its holdings in shares of Advanced Micro Devices by 3.4% during the fourth quarter. Sage Mountain Advisors LLC now owns 6,014 shares of the semiconductor manufacturer’s stock valued at $887,000 after purchasing an additional 197 shares during the last quarter. Townsend Asset Management Corp NC ADV purchased a new position in shares of Advanced Micro Devices during the fourth quarter valued at approximately $296,000. Summit Wealth & Retirement Planning Inc. purchased a new position in shares of Advanced Micro Devices during the fourth quarter valued at approximately $256,000. Finally, Jennison Associates LLC raised its holdings in shares of Advanced Micro Devices by 5.9% during the fourth quarter. Jennison Associates LLC now owns 26,886,280 shares of the semiconductor manufacturer’s stock valued at $3,963,307,000 after purchasing an additional 1,490,997 shares during the last quarter. 71.34% of the stock is owned by hedge funds and other institutional investors.

Advanced Micro Devices Price Performance

AMD stock traded up $2.00 during mid-day trading on Monday, hitting $148.64. The company had a trading volume of 49,149,047 shares, compared to its average volume of 74,307,734. The company has a market capitalization of $240.22 billion, a price-to-earnings ratio of 282.18, a P/E/G ratio of 2.23 and a beta of 1.64. Advanced Micro Devices, Inc. has a 12-month low of $81.02 and a 12-month high of $227.30. The company has a quick ratio of 1.86, a current ratio of 2.51 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average price of $179.64 and a 200 day moving average price of $149.24.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $0.77 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.77. The firm had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.13 billion. Advanced Micro Devices had a net margin of 3.77% and a return on equity of 5.73%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.54 EPS. On average, research analysts anticipate that Advanced Micro Devices, Inc. will post 2.64 earnings per share for the current year.

Insider Activity

In other news, EVP Forrest Eugene Norrod sold 59,293 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $175.94, for a total transaction of $10,432,010.42. Following the sale, the executive vice president now directly owns 258,690 shares in the company, valued at approximately $45,513,918.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Forrest Eugene Norrod sold 59,293 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $175.94, for a total transaction of $10,432,010.42. Following the sale, the executive vice president now directly owns 258,690 shares in the company, valued at approximately $45,513,918.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Darla M. Smith sold 1,678 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $188.66, for a total transaction of $316,571.48. Following the completion of the sale, the chief accounting officer now directly owns 4,209 shares in the company, valued at $794,069.94. The disclosure for this sale can be found here. In the last three months, insiders have sold 341,143 shares of company stock worth $62,580,844. 0.65% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

AMD has been the subject of several research reports. DZ Bank reissued a “hold” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a report on Thursday, March 7th. Northland Securities raised shares of Advanced Micro Devices from a “market perform” rating to an “outperform” rating and set a $195.00 target price for the company in a report on Wednesday, January 31st. UBS Group upped their target price on shares of Advanced Micro Devices from $135.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Barclays upped their target price on shares of Advanced Micro Devices from $200.00 to $235.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Finally, Evercore ISI assumed coverage on shares of Advanced Micro Devices in a report on Tuesday, April 16th. They set an “outperform” rating and a $200.00 target price for the company. Four investment analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $185.59.

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.