Sierra Summit Advisors LLC Reduces Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Sierra Summit Advisors LLC lessened its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 82.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,855 shares of the semiconductor manufacturer’s stock after selling 45,602 shares during the quarter. Sierra Summit Advisors LLC’s holdings in Advanced Micro Devices were worth $1,190,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of AMD. Norges Bank acquired a new stake in Advanced Micro Devices during the fourth quarter worth about $2,867,193,000. Van ECK Associates Corp boosted its position in Advanced Micro Devices by 23.3% in the 4th quarter. Van ECK Associates Corp now owns 11,859,744 shares of the semiconductor manufacturer’s stock worth $1,432,538,000 after purchasing an additional 2,238,866 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Advanced Micro Devices by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer’s stock worth $18,143,884,000 after purchasing an additional 1,441,626 shares during the period. Alecta Tjanstepension Omsesidigt purchased a new position in shares of Advanced Micro Devices during the 4th quarter valued at approximately $165,952,000. Finally, Geode Capital Management LLC lifted its stake in shares of Advanced Micro Devices by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 35,079,256 shares of the semiconductor manufacturer’s stock valued at $4,224,840,000 after purchasing an additional 835,413 shares during the period. 71.34% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Philip Guido acquired 4,645 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were purchased at an average cost of $107.56 per share, for a total transaction of $499,616.20. Following the acquisition, the executive vice president now owns 33,522 shares in the company, valued at $3,605,626.32. The trade was a 16.09 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.65% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on AMD shares. Citigroup restated a “buy” rating on shares of Advanced Micro Devices in a research report on Wednesday, February 19th. Mizuho cut their price target on Advanced Micro Devices from $140.00 to $120.00 and set an “outperform” rating for the company in a research note on Friday, March 14th. UBS Group set a $175.00 price target on Advanced Micro Devices in a research report on Wednesday, February 5th. Melius Research restated a “hold” rating and issued a $129.00 price objective (down from $160.00) on shares of Advanced Micro Devices in a research report on Tuesday, January 28th. Finally, Wedbush reiterated an “outperform” rating and set a $150.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and a consensus price target of $152.72.

Advanced Micro Devices Trading Down 8.6 %

Shares of AMD opened at $85.76 on Monday. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average price of $106.88 and a 200 day moving average price of $128.81. Advanced Micro Devices, Inc. has a 12-month low of $81.68 and a 12-month high of $187.28. The firm has a market capitalization of $138.61 billion, a P/E ratio of 86.63, a P/E/G ratio of 1.11 and a beta of 1.88.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.07. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. Sell-side analysts forecast that Advanced Micro Devices, Inc. will post 3.87 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.