First Citizens Bank & Trust Co. Sells 3,065 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

First Citizens Bank & Trust Co. reduced its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 14.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,418 shares of the semiconductor manufacturer’s stock after selling 3,065 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Advanced Micro Devices were worth $2,225,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Creative Capital Management Investments LLC boosted its stake in shares of Advanced Micro Devices by 124.6% in the 3rd quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 86 shares in the last quarter. ZRC Wealth Management LLC raised its holdings in Advanced Micro Devices by 90.4% during the 3rd quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 75 shares during the last quarter. Global Wealth Strategies & Associates bought a new position in Advanced Micro Devices during the 4th quarter worth approximately $26,000. FSA Wealth Management LLC bought a new stake in shares of Advanced Micro Devices in the 3rd quarter valued at $41,000. Finally, Coston McIsaac & Partners increased its stake in shares of Advanced Micro Devices by 319.4% in the 3rd quarter. Coston McIsaac & Partners now owns 260 shares of the semiconductor manufacturer’s stock valued at $42,000 after acquiring an additional 198 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Bank of America lowered shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $180.00 to $155.00 in a research note on Monday, December 9th. Piper Sandler reissued an “overweight” rating and issued a $180.00 price target (down from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Citigroup reduced their target price on shares of Advanced Micro Devices from $200.00 to $175.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Mizuho reduced their price objective on shares of Advanced Micro Devices from $180.00 to $160.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Finally, StockNews.com lowered shares of Advanced Micro Devices from a “hold” rating to a “sell” rating in a research report on Tuesday, January 14th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $176.33.

Insiders Place Their Bets

In other news, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were 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 in the company, valued at $41,558,469.49. This represents a 12.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Lisa T. Su sold 76,496 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total transaction of $10,912,919.36. Following the sale, the chief executive officer now owns 3,566,762 shares in the company, valued at approximately $508,834,266.92. The trade was a 2.10 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 197,036 shares of company stock worth $28,165,821. 0.73% of the stock is currently owned by company insiders.

Advanced Micro Devices Stock Performance

Shares of NASDAQ:AMD opened at $122.84 on Monday. The company has a market cap of $199.35 billion, a price-to-earnings ratio of 110.67, a price-to-earnings-growth ratio of 1.09 and a beta of 1.66. The company has a 50-day moving average price of $128.12 and a 200-day moving average price of $143.50. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a 12 month low of $114.41 and a 12 month high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, meeting 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 company had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter in the previous year, the company earned $0.53 earnings per share. Advanced Micro Devices’s quarterly revenue was up 17.6% on a year-over-year basis. As a group, equities analysts anticipate that Advanced Micro Devices, Inc. will post 2.54 EPS for the current year.

Advanced Micro Devices 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.