Shikiar Asset Management Inc. Sells 13,115 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Shikiar Asset Management Inc. lowered its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 16.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 66,287 shares of the semiconductor manufacturer’s stock after selling 13,115 shares during the period. Advanced Micro Devices comprises about 2.1% of Shikiar Asset Management Inc.’s investment portfolio, making the stock its 18th largest position. Shikiar Asset Management Inc.’s holdings in Advanced Micro Devices were worth $8,007,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMD. Charles Schwab Investment Management Inc. grew its stake in shares of Advanced Micro Devices by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,656,965 shares of the semiconductor manufacturer’s stock worth $1,584,515,000 after buying an additional 177,700 shares during the last quarter. Swiss National Bank grew its stake in shares of Advanced Micro Devices by 0.3% in the third quarter. Swiss National Bank now owns 4,797,575 shares of the semiconductor manufacturer’s stock worth $787,186,000 after acquiring an additional 12,500 shares during the last quarter. Shum Financial Group Inc. bought a new position in shares of Advanced Micro Devices during the third quarter valued at $858,000. State Street Corp raised its position in shares of Advanced Micro Devices by 2.3% in the 3rd quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after purchasing an additional 1,580,035 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Advanced Micro Devices by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock worth $5,597,337,000 after purchasing an additional 441,924 shares in the last quarter. 71.34% of the stock is owned by hedge funds and other institutional investors.

Advanced Micro Devices Price Performance

NASDAQ AMD opened at $121.46 on Friday. The stock has a market cap of $197.11 billion, a price-to-earnings ratio of 109.42, a PEG ratio of 1.03 and a beta of 1.66. Advanced Micro Devices, Inc. has a 12 month low of $114.41 and a 12 month high of $227.30. The company’s 50 day moving average is $130.47 and its two-hundred day moving average is $145.58. 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 (NASDAQ:AMD) last released its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, meeting analysts’ consensus estimates 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 EPS. Advanced Micro Devices’s revenue for the quarter was up 17.6% on a year-over-year basis. As a group, research analysts anticipate that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current year.

Analysts Set New Price Targets

AMD has been the subject of several recent analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 target price on shares of Advanced Micro Devices in a report on Monday, October 28th. KeyCorp decreased their price objective on shares of Advanced Micro Devices from $220.00 to $150.00 and set an “overweight” rating for the company in a report on Tuesday. StockNews.com downgraded Advanced Micro Devices from a “hold” rating to a “sell” rating in a research note on Tuesday. The Goldman Sachs Group cut Advanced Micro Devices from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $175.00 to $129.00 in a research note on Friday, January 10th. Finally, TD Cowen dropped their price objective on Advanced Micro Devices from $185.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Advanced Micro Devices has a consensus rating of “Moderate Buy” and a consensus target price of $178.61.

Insider Transactions at Advanced Micro Devices

In other news, CEO Lisa T. Su sold 80,000 shares of Advanced Micro Devices stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total value 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. The trade was a 2.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $5,743,301.80. Following the transaction, the executive vice president now directly owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. The trade was a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 197,036 shares of company stock valued at $28,165,821 over the last 90 days. Company insiders own 0.65% 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.