GM Advisory Group LLC Cuts Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

GM Advisory Group LLC lessened its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 15.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 15,344 shares of the semiconductor manufacturer’s stock after selling 2,911 shares during the quarter. GM Advisory Group LLC’s holdings in Advanced Micro Devices were worth $2,518,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Allen Capital Group LLC grew its stake in Advanced Micro Devices by 36.0% during the 3rd quarter. Allen Capital Group LLC now owns 2,478 shares of the semiconductor manufacturer’s stock worth $407,000 after purchasing an additional 656 shares in the last quarter. Raymond James Trust N.A. boosted its stake in shares of Advanced Micro Devices by 2.4% in the 3rd quarter. Raymond James Trust N.A. now owns 40,596 shares of the semiconductor manufacturer’s stock valued at $6,661,000 after buying an additional 954 shares during the period. AlphaCore Capital LLC grew its position in shares of Advanced Micro Devices by 18.0% during the third quarter. AlphaCore Capital LLC now owns 4,657 shares of the semiconductor manufacturer’s stock worth $764,000 after buying an additional 712 shares in the last quarter. Darden Wealth Group Inc increased its stake in shares of Advanced Micro Devices by 1.4% during the third quarter. Darden Wealth Group Inc now owns 12,576 shares of the semiconductor manufacturer’s stock worth $2,063,000 after buying an additional 172 shares during the period. Finally, Eagle Asset Management Inc. raised its holdings in Advanced Micro Devices by 39.9% in the third quarter. Eagle Asset Management Inc. now owns 21,810 shares of the semiconductor manufacturer’s stock valued at $3,579,000 after acquiring an additional 6,216 shares in the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

Advanced Micro Devices Stock Performance

NASDAQ:AMD opened at $137.21 on Friday. The firm’s fifty day simple moving average is $153.95 and its 200-day simple moving average is $154.70. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. The stock has a market cap of $222.67 billion, a PE ratio of 123.61, a price-to-earnings-growth ratio of 1.93 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.

Advanced Micro Devices (NASDAQ:AMD) last issued its 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 for the quarter, compared to analyst estimates of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The firm’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.53 earnings per share. Analysts expect that Advanced Micro Devices, Inc. will post 2.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on AMD. Bank of America reiterated a “buy” rating and set a $180.00 price target on shares of Advanced Micro Devices in a report on Thursday, October 3rd. Susquehanna reissued a “positive” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a report on Wednesday, July 31st. Robert W. Baird decreased their price target on Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Edward Jones initiated coverage on Advanced Micro Devices in a report on Tuesday, August 20th. They issued a “buy” rating on the stock. Finally, Truist Financial decreased their target price on Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating for the company in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $192.79.

Insider Buying and Selling at Advanced Micro Devices

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction on Tuesday, November 5th. The stock was 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 $41,558,469.49. This trade represents a 12.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lisa T. Su sold 80,000 shares of the company’s 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 owns 3,566,762 shares in the company, 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. 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.