Moran Wealth Management LLC Trims Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Moran Wealth Management LLC decreased its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 5.7% during the third quarter, HoldingsChannel reports. The firm owned 11,126 shares of the semiconductor manufacturer’s stock after selling 667 shares during the period. Moran Wealth Management LLC’s holdings in Advanced Micro Devices were worth $1,826,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of AMD. Swiss National Bank lifted its holdings in shares of Advanced Micro Devices by 0.3% during the 3rd quarter. Swiss National Bank now owns 4,797,575 shares of the semiconductor manufacturer’s stock valued at $787,186,000 after buying an additional 12,500 shares during the period. Harvest Portfolios Group Inc. increased its position in Advanced Micro Devices by 4.4% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 146,445 shares of the semiconductor manufacturer’s stock valued at $24,029,000 after purchasing an additional 6,168 shares during the period. Principal Financial Group Inc. raised its holdings in Advanced Micro Devices by 30.2% in the third quarter. Principal Financial Group Inc. now owns 2,537,968 shares of the semiconductor manufacturer’s stock worth $416,430,000 after purchasing an additional 588,595 shares in the last quarter. Vectors Research Management LLC acquired a new stake in Advanced Micro Devices in the third quarter worth about $1,394,000. Finally, Prospera Financial Services Inc lifted its holdings in shares of Advanced Micro Devices by 50.7% during the third quarter. Prospera Financial Services Inc now owns 87,602 shares of the semiconductor manufacturer’s stock worth $14,374,000 after purchasing an additional 29,453 shares during the period. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Trading Down 0.3 %

NASDAQ AMD opened at $137.21 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50. The stock has a market cap of $222.67 billion, a P/E ratio of 123.61, a price-to-earnings-growth ratio of 1.93 and a beta of 1.71. The stock has a 50 day simple moving average of $153.95 and a two-hundred day simple moving average of $154.70. 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 quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, hitting the consensus estimate of $0.92. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The firm had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter in the prior year, the business earned $0.53 EPS. The business’s quarterly revenue was up 17.6% on a year-over-year basis. On average, analysts forecast that Advanced Micro Devices, Inc. will post 2.53 earnings per share for the current year.

Insider Activity 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 that occurred on Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total value of $5,743,301.80. Following the sale, the executive vice president now directly owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. This trade represents a 12.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 sale, the chief executive officer now directly 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 position. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AMD. Barclays decreased their target price on Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $180.00 price target on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Robert W. Baird dropped their price target on Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Susquehanna reaffirmed a “positive” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a report on Wednesday, July 31st. Finally, 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 research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $192.79.

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.